Do You Use the 50:30:20 Rule?

[Kane]

The 50:30:20 rule offers a simple solution to manage your money to build wealth through your existing income structure. According to this rule, you will have to manage your entire expenses with 50 percent of your income, you will have to use 30 percent for wants, and the remaining 20 for savings and investments. If 20 percent of your income is very small, you can use micro-investment platforms like Acorns, Stash etc. to invest small.
Do you use the rule of 50:30:20?

 

[saoussen57651]

This rule could be applied if someone is doing real work like in guru platform or bark or similar platforms where you are paid 100 $ to accomplish a job, it could not be applied for PTP earning. If you spend one month to earn 10 $ so 5 $ a month what could do as expense?

 

[Grant]

I don't really follow this rule, but I think I come close to it. I have savings, spend only what I can, and have saved most of it. I will buy something for myself, but it's rare. My money is focused on bills first, necessities next and then money for myself or savings and investing.