HOW TO BUDGET YOUR MONEY: The 50/30/20 Rule (Beginner Money Management)

HOW TO BUDGET YOUR MONEY: The 50/30/20 Rule (Beginner Money Management)

• Get 1 Free Share, worth up to £200! When you sign up for FreeTrade using this link:
• Get 1 Free Share, worth up to £100! When you sign up for Trading 212, with this link:
• £7.21 of Bitcoin if you sign up to Coinbase with this link:
• Up to £20 if you sign up to Monese with this link, and use code: ALEX1387
• £5 If you sign up to Curve with this link, and used code: D56JLABN
• £5 if you sign up to Cash App with this link, and use code: NFDHJTH
• £10 if you sign up for an Amex Platinum Cashback Everyday credit card with this link:
• 1200 Bonus Points if you sign up for an Amex Gold credit card with this link:
• £25 If you sign up for an Aqua Classic credit card (to start building your credit score) with this link:
• £25 If you sign up for a Vanquis credit card (to start building your credit score) with this link:

(Please note most of these referral links are mutually beneficial and help support this channel. Do not feel obliged to use any them and make sure to research the services yourself)



• How To Invest Your First £1000 –
• Best Sites for Stock Market Analysis –
• Dollar Cost Averaging –

Disclaimer: Always do your own research and never blindly follow someone else’s advice. Always read the terms before signing up or investing in anything. These are simply my opinions and it is not advice in any way.

Whats good guys. Today we are going to be looking at one of the simplest but effective ways in which you can budget your money. Its perfect if you are new to managing your finances and is really easy to implement. The strategy is called the 50/30/20 rule. And it doesn’t require any long winded expenses tracking.

The idea is that as soon as you get paid/receive any income you split it up into 3 categories by a specific percentage.
– First we have Needs, which will be 50%, and this money will be used for all your essential expenses like: rent, food, bills, clothes, travel expenses, etc.
– Next we have Wants, utilising 30%, which will be all those things you spend money on that are not essential but are there to help make our lives more enjoyable and fulfilling. This could be: eating out, holidays, designer clothes, hobbies, activities, neflix, etc.
– Finally we have Financial Goals / Savings which will be made up of the remaining 20%. This will be any financially driven things in your life, so it could be everyday savings, saving for investments, retirement fund, saving for children, saving for a house deposit etc.

In the video I will be going through exactly how I think is the best way in practice to start implementing this strategy utilising mobile banking app features, and also how i use the idea as a foundation for my own budget.

I hope you enjoy the video and make sure to like and subscribe for more.
And as always do let me know your thoughts down in the comments.

► Music Credit
Joakim Karud Track Name: “Vacation” Music By: Joakim Karud @ Official Joakim Karud SoundCloud Page HERE – Official “Joakim Karud” YouTube Channel HERE – License for commercial use: Creative Commons Attribution 3.0 Unported “Share Alike” (CC BY-SA 3.0) License. Full License HERE –… Music promoted by NCM

► Contents
00:00 – Intro
01:43 – What is The 50/30/20 Rule?
04:00 – How to Implement It?
05:09 – 50/30/20 Limitations
07:39 – How I Use The Rule?
09:32 – Outro

► Tags:
free money, money saving expert, alex glasse, graham stephan, passive income, investing in the stock market, proerty investments, finance, credit rating, rewards credit card, make money online, reselling, gary v, make money, side hustle ideas, side hustles, investing in the stockmarket, make money from home, make money during lockdown, investing, moneybox app, moneybox review, moneybox, vangaurd, wealthify, investing for begginers, review, mobile investing, robbinhood investing, money talk, nutmeg, nutmeg review, nutmeg investment, trading 212, freetrade, first time buyer, uk property, property investment, help to buy isa, lifetime isa, buying a home, saving money, deposit, rental property, live for free, investing in assets, assets


Articles You May Like

Ryan Serhant: NYC real estate is back and trophy real estate now taking its place in the sun
Buying 7 Rental Units In Rhode Island! Buy Real Estate to Cashflow & Get Rich!
How to Find Comparables in Real Estate?
Robert Kiyosaki | Shift Your Mindset to a Major Crash, The Economy Is Coming Apart Like Never Before
Keller Williams Elevate – Productivity Coaching Relaunch August 2021

Leave a Reply

Your email address will not be published. Required fields are marked *