How is the savings method recommended by experts that allows you to save money even with a low salary

Saving is a common practice in any family household that wants to save a savings fund. Wealth For the holidays or for home renovation. However, in an unfavorable context such as inflation, saving capacity begins to appear inefficient. For this reason some tests a Method Which involves distributing income as rationally as possible.

It is known that money is what allows us to live in society, since it is a form of exchange to access goods or services. But Savings It is shown as a complementary activity, which promises to enhance it further and thus achieve other goals such as going abroad or buying a new vehicle. In this sense, many economic experts recommend implementing Method This is called the “50/30/20 rule,” which turns out to be a smart way to manage our finances.

What is the “50/30/20 Rule”?

to put it into practice Method Of Savings, we have to understand that this is an option to divide our monthly income into 3 different categories. In the first category we find “Fixed costs or necessities”, to which we allocate 50% Wealth Expenses to meet basic needs. That is, those expenses that should be prioritized are those that allow us to live and work, such as paying for services, rent or food.

As far as its second category is concerned MethodWhat is known as “variable costs or pleasures” we should also apply Savings 30% for other entertainment related expenses. For example, if we want to go shopping, have dinner or go to the movies, we should allocate only this part of the budget to these activities. However, we can be more effective by using Wealth If we take advantage of promotions, free activities and avoid making small purchases that will have a big impact at the end of the month, what is known as “ant spending”.

Finally, for the last category of MethodWe have to allocate 20% Wealth still Savings Serious. This means that less than half of the total monthly income should be set aside and stored in one place without spending it on anything. This way, you ensure that you have set a new long-term purchase goal, such as a home, travel, or a new vehicle, as well as have an emergency fund in case something unexpected happens in your way of life.