@@learnwithbrshakya My view is that 50-30-20 is made for headlines more than practicality. Its an easy to digest rule of thumb, but I don't think it does anything for people. Firstly I think the saving/investing needs to come first. Then the rest should follow, and not by any arbitrary number, as it can put make people feel that they are unnecessarily doing well or not well if they are under the 50% on needs, for example.
The 30% into a Wants bucket is the bit I don't agree with.
Then what is your view?
@@learnwithbrshakya My view is that 50-30-20 is made for headlines more than practicality. Its an easy to digest rule of thumb, but I don't think it does anything for people.
Firstly I think the saving/investing needs to come first. Then the rest should follow, and not by any arbitrary number, as it can put make people feel that they are unnecessarily doing well or not well if they are under the 50% on needs, for example.
I have specifically said that 20% saving should be the 1st thing before anything else... because that money will be used to protection and investment.