I want to share with you the budget that I personally use on my journey to building wealth

I started with a simple 50/30/20 rule

WHY BUDGET?

I am a big believer that a budget allows you to jump into a driving seat of your personal finance

Not only you understand where your money goes but also allows you to make conscious decisions about your spendings

Budget can also speed up your asset accumulation journey

NEEDS - 50%

This is the biggest part of your expenses - things you can’t live without

You need to think here - this is the part of your budget that will be present no matter the situation you are in

WANTS - 30%

This is your entertainment budget

Move it to a separate card/account - this will make managing your budget a lot easier

INVEST - 20%

Investing should be done as a priority

The moment you are paid - get the direct debit to move the money into your investment account

The more you automate - the easier it will be to stick with it

MAKE IT PERSONAL

The best part about any budget - you can change the percentages and make it personal to you

I try to invest roughly 30-35% every month - this works the best for me