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How To Manage Your Money (50/30/20 Rule)




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Title :  How To Manage Your Money (50/30/20 Rule)
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Comments How To Manage Your Money (50/30/20 Rule)



Fabio Cortese
I have a question: in which category should you insert the expenses for the education like books, training course, ecc? Do you think are correct to put this expenses in the savings categories? I see them like an investment
Comment from : Fabio Cortese


AYIDE SUNDAY MANUSA
Assests that can make you rich
Comment from : AYIDE SUNDAY MANUSA


Invested In Me
Yo who mans is this, he’s got to be a genius or something
Comment from : Invested In Me


PETER Kabinson
great ideas
Comment from : PETER Kabinson


Jarex Zinn
I can’t live if of 50 for needs more like 85
Comment from : Jarex Zinn


Rhonda Phillips
Wow I cannot read your writing dude can you write a little bit neater I'm trying to watch this video and learn but I can't read what you're writing on the board it's so messy
Comment from : Rhonda Phillips


Raaf Jansen
Dude this is impossible for low income I make 2000, 600 is the lowest rent, 880 for car gas groceries insurance and everything, that's 1480 total, that's 74 Only 520 left More like 74/13/13
Comment from : Raaf Jansen


GrantedSnake
As 19 year old who earns 150 a month this is very helpful for my future life
Comment from : GrantedSnake


Jasmine Joy Dicla
I'm 17 and yeah 50 of what I make goes to needs I give some to mom for groceries, some for wifi The other 50 goes to wants I get so little for my wants with everything being pricey nowadays brbrMy mom tells me I need to save up but like, buying what I want with my own money makes me feel like I'm healing from not getting anything I wanted when I was younger I hate that she's trying to tell me not to buy so much but I understand, I feel bad too but I just gotta
Comment from : Jasmine Joy Dicla


Kimberly Salazar
The economic crisis is just a time that differentiates the wise from the other, the wise will invest right now either in stock or cryptocurrency just to hold some shares of something
Comment from : Kimberly Salazar


Aline Filipe
Since loosing my job what has been helping me is my investment in ETFs and penny stocks, accounting for over $ 7k monthly dividends still one of my best decisions in life
Comment from : Aline Filipe


Max Nguyen
Investing has changed my life perspective on how to succeed in life Working multiple jobs for money isn’t the optimal way to attain financial freedom Indeed trading has showed me that
Comment from : Max Nguyen


MrPickle
I have a question , if my parent pay fro ny food and everything , can i change ans save 60 and for wants 40 Is it ok?
Comment from : MrPickle


Christian Duval
I alway base my cost of living on minimum salaryall extra cash go for savingbrAlso when I get married 25years ago, I tell my wife the same rulebrWith all money pilling up and interest compoundI was able to take my retired at 40butI quit my six figure job to start my own early 2000brAt 57I when thru 3 mortgageI own manufacturing automated facility, rental property in Canada and USAlso I own my own personnal bankbrImagine, since 2013 my personnal imcome is $15 000 per yearand same thing fo the next 10 yearbrbrThat mean I paid ZERO personnalonly corporatebrbrOnly way to achieve that is to have no debt and live with passive investmentnot at your name
Comment from : Christian Duval


Edward Sichilima
You super
Comment from : Edward Sichilima


Washington Henry
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN TRADE WELL ON DEMO But I THINK THE REAL MARKET IS MANIPULATED CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
Comment from : Washington Henry


Mlungisi Zulu
😢😢My wants always pours over to my needs I am aware of the flaw now Discipline and committing to my budget is where I fail dismally 😞
Comment from : Mlungisi Zulu


ithabeleng mohlokonya
Thank just got my first job and had no idea how i can make a budget
Comment from : ithabeleng mohlokonya


Paul M McKinney
I am very excited about the prospect of using cryptocurrency, not just as a money equivalent, but using it as a way to earn something as a result of doing some type of work
Comment from : Paul M McKinney


Rob Lowe
The best decision I ever made in my life was investing in financial market Trust me guys, it pays!😊
Comment from : Rob Lowe


Tôn Thất Công
I realized that the secret to making a million is saving for a better investment I always tell myself you don't need that new Maserati or that vacation just yet That mindset helped me make more money investing For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million
Comment from : Tôn Thất Công


Roger Fernandez
Thank you for this
Comment from : Roger Fernandez


Deji Peter
Investing in cryptos now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today
Comment from : Deji Peter


Bethany Forrester
What’s the difference in this rule and the 80/20 rule other then you are splitting up the 80 into 50/30 for needs and wants
Comment from : Bethany Forrester


Jaes art
Thank you very muchgraduated high school last year and working for months now and I'm see no progressin my accountwasting it on my wants in daysits hard to change this habbit but by the grace of God it will
Comment from : Jaes art


Loopy
What happens when your needs surpass 50? As in I earn $860 after tax, $490 goes on rent, $130 on food, $50 on petrol to get to work, $15 on car insurance, $18 on car registration, $45 on utilities, $22 on cell bills, not to mention unknown costs like doctors bills, medical prescriptions, car maintenance/repairs etc And just like that, your 50:30:20 rule sounds like a magical fairyland dream
Comment from : Loopy


Bella Trina
Am a new subscriber I just came across your page I must say I love this video this exactly the video I need right now🙌
Comment from : Bella Trina


igotWeedinhereCowboy
If you have an exact figure of your “needs” each month and setting aside 50 each check almost doubles that number, should use that extra for savings or keep my needs bucket overflowing?
Comment from : igotWeedinhereCowboy


ملتقى دجلة والفرات
What about some groceries? Are they also included on necessities? Because a person can survive on bread and beans
Comment from : ملتقى دجلة والفرات


Jiren Sentry
I don't see how the 20 percent isn't a need And 30 percent seems quite high when factoring savings and debt payments
Comment from : Jiren Sentry


Incognito Girl
"I know my wife will, but I'll be alright"brAnd just like that he was sleeping on the couch Lol
Comment from : Incognito Girl


Cringe Doctor
50 of my salary does not pay for my monthly needs lol
Comment from : Cringe Doctor


OwninFools
I just started doing this in 2022 and my needs/wants categories sort of fused together I want to be debt free therefore i need to pay off my loans By the end of Feb I should have 2K saved up I'm poor, yet I'm honestly richI'm afraid to be debt free
Comment from : OwninFools


James Njoroge
Amazing Thanks Marko!
Comment from : James Njoroge


TRYAN★STEAMZ
Extremely helpful with I'm in Africa and our schools are full of fake teaching
Comment from : TRYAN★STEAMZ


Renee Bills
Don't you think we are supposed to be taught all this in school? investment is part of a great idea though
Comment from : Renee Bills


Marina Nava
You can't die from not having shelter or eating nothing 😂🤣the fear
Comment from : Marina Nava


red4666
Where should your Emergency Fund be parked? We can't just have it sitting in a checking account It's got to be liquid to some degree and collecting more than that measly 2 interest Any suggestions?
Comment from : red4666


Jonathan Barbas
I'm saying $270 a day for 3 months
Comment from : Jonathan Barbas


Capital Note💸
Wow❕ brGreat Content Sir⭐⭐⭐⭐⭐
Comment from : Capital Note💸


Nina
Recently I’ve been getting back into fashion… which means a whole lot of shopping and I spent 50 of my noney Though I am not an adult saving is important to me
Comment from : Nina


PlayAsh
I have a question, please answer mebrFor savings, when you have a lot of things to save for Do you save all in the same bank account How do you do it?
Comment from : PlayAsh


Arrious& sammy always&forever
I'm learning something from this video so I could be my own payee for my social security income
Comment from : Arrious& sammy always&forever


Ravaugn ✨❤️
Thanks Marko!
Comment from : Ravaugn ✨❤️


Julian Taylor
I really liked the video, keep it up bro!
Comment from : Julian Taylor


Steven paul
Never knew cryptocurrencys could be so challenging! Kept running back to these YouTube videos to learn more about this your video is indeed helpful
Comment from : Steven paul


enigma07777
Would insurance premiums count as wants or needs? I estimate about 20 of our income goes on insurance premiumsbrThankyou
Comment from : enigma07777


Maya Amandra
Can I know Car Loans in what category? Help me🙁
Comment from : Maya Amandra


fnkripto
What if i am a kid and i dont have needs because i am not paying for any of the remt electricity ext
Comment from : fnkripto


Dustii Santiago
Worth the watch, easy to understand and straight to the point!
Comment from : Dustii Santiago


Angel Cedeno
I felt personally attacked when he said the grill I was gonna get was a want 😂
Comment from : Angel Cedeno


HAVA
so i need to earn the double amount of my obligation outcomes adulting
Comment from : HAVA


kabootar club pk
Good
Comment from : kabootar club pk


Sydney Scott
this was really informative, thank you for making this video
Comment from : Sydney Scott


Ace Punters
its not earth shutting information but; hell yeah, why not?
Comment from : Ace Punters


Prajjwal Pawar
i like ur old school white board approach its better thn facny presentation
Comment from : Prajjwal Pawar


Pajah
Thank you
Comment from : Pajah


NECRO: Storm
I'm currently working with 70 savings, 20 need, 10 wantbrbrI need a new car soon since my current one is a money pit of crap
Comment from : NECRO: Storm


How To Steve
That's a very comfortable approach regarding how to manage your money Simple, not the most efficient, but it's a good start Thanks for sharing it!
Comment from : How To Steve


Williams Smith
The Success behind my profit earning in Bitcoin investment is not solely on my skills but the help of investing with an expert
Comment from : Williams Smith


Valentin Hernandez
i would say 50 on needs and wants, 30 Investing, 20 Saving
Comment from : Valentin Hernandez


jerrym
Very helpful info/content A could of follow-up questions: 1) What are your thoughts about how would/should the s breakdown differently for retirees? 2) For people with mortgages, does that get factored in to the 50 of living expenses/needs or the 20 of paying down debt? I'm assuming 50/needs, but would like to confirm TIA
Comment from : jerrym


Advesh Darvekar
The education system doesn't want you to know all this stuff so that these big companies can take advantage to naive people who can't manage their income
Comment from : Advesh Darvekar


Animated World
Great 😃 thanks
Comment from : Animated World


Nick inocencio
currently have 23k in student loans, make 44k a month, own a car paid out, credit card debt always under 30 utilization, 40 in investments, 20 spending on wants, 20 in savings, 20 going into debt what am i doing wrong?
Comment from : Nick inocencio


Yusuf Hamid
I am 27 and I have only one source of income but still get difficulty in budgeting especially saving what you suggest to me?
Comment from : Yusuf Hamid


lhitz Busaing
Thanks for this video sirlove it and it help me a lotGod bless you
Comment from : lhitz Busaing


Kierra Drayton
I love this video, so simply put and easy to understand Definitely going to be using the 50/30/20 rule from now on
Comment from : Kierra Drayton


ashish ghosh
Thank u sir
Comment from : ashish ghosh


Happy_Grateful_Soul
This is really important video
Comment from : Happy_Grateful_Soul


Webster Dark
It's never to late to learn I really want to start saving money
Comment from : Webster Dark


DR Sarah Princess MWema
U r cute nd smart lol
Comment from : DR Sarah Princess MWema


Melvin, the mighty man!
6:06
Comment from : Melvin, the mighty man!


Good Life
Many thanks I've never had my finances in some kind of structure and this will assist me greatly
Comment from : Good Life


Samuel K
youtube/oFz5GF7pIlc
Comment from : Samuel K


Kaman Dan
love you marko no homo 🙂brkeep making more vids keep inspiring
Comment from : Kaman Dan


Jupiter Eye
This is almost impossible to maintain for most people Some places are so unaffordable, you can't have a year worth of expenses or even 6 months as that would be like 50-70k or more Who has that money laying around? Second, groceries, gas, utilities, have all gone up in many places, and now you have much more than 50 for these monthly expenses As for eating out, I myself don't eat out much at all, however, I would argue for many people it isn't actually that much cheaper, taking into account groceries affordability, electricity spent, gas, time spent which many people don't have The problem is that this modern lifestyle is consumer-oriented and hyper-growth oriented, these "ideal" ratios are way too hard to follow for many people For other people who had parents thinking a generation ahead, the road may be much easier
Comment from : Jupiter Eye


Victor G
If I wanted to save up for a nice computer, would I put that under the savings category or (if it's for hobby) would I set aside $ from my wants category to save up for it? Some combo of the two?
Comment from : Victor G


Pia Love
Yes! I like this rule :-)
Comment from : Pia Love


Daniel Adams
I like this
Comment from : Daniel Adams


Dextrose Ten
in money we always invest in what is relevant at time of exchange, futurely the smartest common investment is one whos value can be converted to a real world currency of choice, any object is as good as its guarantor such as a start up that seeks investment farming by issuing a limited number of an object
Comment from : Dextrose Ten


Otis Moody
Its qlways earth shattering bro appreciate it
Comment from : Otis Moody


Temapo Kaino
GOOD VIDEO INDEED BUT WANTED TO KNOW IF GIFTING-LIKE IN GIVING MONEY TO SOMEONE IF FALLING UNDER THE 50 OR 20 PERCENT?
Comment from : Temapo Kaino


netlink53
The best investment I made was getting my builders license and building my house for my family Now I owe no one
Comment from : netlink53


Tshire Letso
💖
Comment from : Tshire Letso


Winnie Damian
Success depends on the actions or steps you take to achieve it Show me a man without investment and I'll tell you how long it takes to go bankrupt Investing creates a safe haven for the future With the right investment choice that has at least a 2 minimum risk and with the advice of an expert, profits and interest are 100 guaranteed
Comment from : Winnie Damian


peacexoom
Greatwe should be financial educated
Comment from : peacexoom


Raymond Simmons
Excellent video I am 60/15/25, although your 50/30/20 is a good model for most people It is such a good idea to think of your finances in terms of these 3 categories and making sure that you are saving at least that 20 Most of my 60 is food, rent, monthly bills and my car
Comment from : Raymond Simmons


Tricky William
Having a great personality sir!
Comment from : Tricky William


bsen
Very nice
Comment from : bsen


Bowl_Of_Pho
Ahh I make like 37k a year I’m 22 I feel like it’s so hard to get ahead of every day life till you get into a 47-57k a year for a single adult after my benefits and taxes and 401k I am thrown down to almost 1800 a month without overtime
Comment from : Bowl_Of_Pho


Noah
Got some spare cash burning a hole in your pocket? Then perhaps you’d like to get in on the NFT craze or just invest in stocks Now’s your chance to own a bit of history or, at the very least, a collectible cryptocurrency token that’s one of a kind (well, in a way)
Comment from : Noah


Brian Patel
Quick question, why not do 20 wants and 30 savings?
Comment from : Brian Patel


Steven Smith
i like it thanks
Comment from : Steven Smith


Ashton Gofer
I’m doing 25 to whatever you want and 75 to bills saving and everything else that are needed and 25 to spend I might go to 125 and save more but I don’t know
Comment from : Ashton Gofer


JustJulia
This may sound really stupid, but is it better to do a 50/30/20 monthly? Or is it possible incorporating that into a bi-weekly plan?
Comment from : JustJulia


Melinda Pierce
thank you
Comment from : Melinda Pierce


KingReyReyes
Like you said, it’s common sense but if we don’t actually look at the numbers it’s surprising how much is put in certain categories Thank you! Will definitely have to categorize my spending
Comment from : KingReyReyes


NotSam321
How would I break this apart? Like how could I separate my wants money and needs money How do I make sure that when I buy McDonald’s I’m using my “wants” money instead of needs?
Comment from : NotSam321



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