1. Live Within Your Means
Do you want to improve your budgeting habits? Follow the simple 50/30/20 rule.
Determine your income and expenses using a budgeting spreadsheet or app.
- Allocate 50% of your income for essentials (needs), such as food, housing, and bills.
- Allot 30% for discretionary spending (wants), like personal items and leisure activities.
- Save 20% for your financial goals. Budgeting can still be enjoyable!
Remember: Never spend more than you earn. If something is beyond your means, save until you can afford it.
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Lawyer turned Artist Visionary Curator & Gallerist. Empowering self-love and joy through art & words. www.innerjoyart.com 💝 Instagram : dymphna.art
Budgeting is a very important aspect in one's life and business too. Personally, I think it will be beneficial if this is taught to children as part of their early childhood education. It can support building financial literacy, discipline, awareness and self-control since young.
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