Don't Spend Less, Spend Right
Try this 50:30:20 rule.
Break down your income after tax -
- 50% on basic needs,
- 30% on wants/desires/things you love,
- 20% on savings, to invest.
Reflect on the 'why' before you 'buy'.
Stay away from bad debt.
Clear your loans faster (either by paying extra EMIs per year or by increasing your EMIs every year).
Saving is not s*xy, but we should save for emergencies and our dreams.
Savings give you the ultimate F*ck-you power (The power to walk away from a job you hate, to handle a medical emergency without deleting your reserves, to move into your place, and the power to live life on your terms.
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This book is by an Indian Author "Ankur Warikoo". He has been terrible with his money management nearly all his life. This was because he was never taught anything about money. All that he was taught was how to earn a living. So he set out to write this book for his younger self, sharing everything he had been taught while adulting. It is practical, has no technical jargon, and teaches how to earn, spend, and put money to work.
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