The 50/15/5 rule for multiple financial goals
- 50% of your income goes toward essential expenses: rent, bills, minimum debt payments.
- 15% percent goes to retirement savings. They also suggest you increase this by 1% each year.
- 5% goes toward unexpected monthly expenses or building an emergency fund.
What you do with the rest of the money it’s up to you.
5.12K
20.9K reads
CURATED FROM
IDEAS CURATED BY
"There's no money in poetry, but then there's no poetry in money, either." ~ Robert Graves
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
The importance of perseverance
How to embrace failure as a learning opportunity
The power of innovation and creativity
Related collections
Similar ideas to The 50/15/5 rule for multiple financial goals
The "zero-sum budget"
An emergency savings fund buffer is vital for freelancers. It will help you to keep your head above water when your income fluctuates.
A zero-sum budget means living off last month's income alone. This can be done in the following way:
- Start
Needs, wants and savings
- Needs: these are those bills that you absolutely must pay and are the things necessary for survival (rent or mortgage payments, car payments, groceries, insurance, health care, minimum debt payment, and utilities).
- Wants: these include all the things...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates