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  • Gastiadirizal Fawwaz (Listening 2) - Money Management

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    Gaes
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    There are many ways to manage personal finances, but one important rule is called 50:30:20, which dictates that 50% of one's finances should go towards needs like housing and groceries, 30% towards wants like hobbies and dining out, and 20% towards savings. This rule helps divide spending into necessities, desires, and long-term planning. However, it can be difficult to distinguish needs from wants and consistently apply this framework.

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    Gastiadirizal Fawwaz ( Listening 2 ) - Money Management

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    There are many ways to manage personal finances, but one important rule is called 50:30:20, which dictates that 50% of one's finances should go towards needs like housing and groceries, 30% towards wants like hobbies and dining out, and 20% towards savings. This rule helps divide spending into necessities, desires, and long-term planning. However, it can be difficult to distinguish needs from wants and consistently apply this framework.

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    6 views1 page

    Gastiadirizal Fawwaz (Listening 2) - Money Management

    Uploaded by

    Gaes
    There are many ways to manage personal finances, but one important rule is called 50:30:20, which dictates that 50% of one's finances should go towards needs like housing and groceries, 30% towards wants like hobbies and dining out, and 20% towards savings. This rule helps divide spending into necessities, desires, and long-term planning. However, it can be difficult to distinguish needs from wants and consistently apply this framework.

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    Financial Rules

    There are many ways to manage personal finances. Even everyone may have a different way. But money
    managemet has rules that must be applied. The most important thing to manage is our own needs and
    desires. Our finances will directly refer to our needs and wants. This rule is named 50:30:20. Which we
    have to divide 50% for needs, 30% for wants, and 20% for savings. We split 50% for our needs which
    usually includes groceries, housing, health, utilities, etc. Then split 30% for our desires which usually
    include shopping, dining out, hobbies, etc. While the remaining 20% we can save for unexpected needs
    or also for something we want in the future. I also applying this rules, but sometimes it’s hard to beat
    the ego. I can’t always separate needs and wants.

    Source : https://youtu.be/HQzoZfc3GwQ

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