Posted on Apr 3, 2019

Blue Copper Capital

There are multiple methods for budgeting but a simple and effective one is the 50/20/30 rule. This rule is as easy as it sounds! Every time you get paid, 50% of that income should be set aside for your essentials, such as: utilities, grocery shopping, rent, medications and gas for your car. The other 20% should be set aside for your savings and debt repayments. Lastly, the other 30% should be used for things that you would like to have but are not necessary, such as Christmas shopping. If you prioritize your money, you will have a much better control over your income.
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