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

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Title	:	How To Manage Your Money (50/30/20 Rule)
Lasting	:	7.08
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Views	:	3,3 jt

I'M NEW TO BTC AND I'VE BEEN MAKING LOSSES TRYING TO MAKE PROFIT MYSELF IN TRADINGI THOUGHT TRADING DEMO ACCOUNT IS JUST LIKE TRADING THE REAL MARKET CAN ANYONE HELP ME OUT OR AT LEAST ADVISE ME ON WHAT TO DO?
Comment from : Melinda judi

Sorry for watching this video
Comment from : joekickass

1 Intentionbr2 Listen br3 Understandbr4 Applybr5 Memorisebr6 Spread
Comment from : Khaledur Studying

Thank you for the financial tip I had understood better on the 20 percent part,the want I was trying to live a better life
Comment from : Mark Rodriguez

First time clicking on one of your videos But I would love to see more financial videos
Comment from : Cory Collins

I am beyond 50of needs
Comment from : Cléodie Bleu

Me :br110 needsbr0 wantsbr0 savesbrbrPray for me guys (Am teacher)
Comment from : Next Page

So all of this logically makes sense, but I think the issue becomes that 50 of a lot of people's income, barely covers their needs For example, I make roughly $50,000 a year My health insurance for our family costs $14,000k per year I have Price shopped I have looked at other companies for work, but they are all pretty similar to cost My deductible isn't very high, so that helps Right off the bat, my income is taken down to 26,000 a yearbrbrWe have a family of four We hunt and fish, to save cost on groceries Even with this and only shopping every few weeks, cutting coupons and saving, we spend around $600 a month in groceries We are now down to roughly 19,000 a year We have a shoebox house and pay $1,400 a month This leaves us at almost $0 Now everything extra we have goes to pay off necessary bills, meeting power water sewer whatever My husband's income, if factor into this, allows us roughly $500 of flexibility monthly This covers all of our utilities and our gasoline and our car insurance and all of our other necessary bills I'm not including streaming services or anything like that, which we completely, meaning we only have one thing that we use and that is it, one subscription service When you talk about it, but you have to make the money to do it, and it looks economy and with how much everything cost, it's HARD
Comment from : Leah Smith

I admire the financial independence of people, But you can live better if you work a little more After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum I plan to work until I'm at least 45
Comment from : Thomas William

What graph do you recommend me using for savings Or should i use one of these phone apps
Comment from : Jose Romero

I changed my username because it offended people

I wish I knew this before This summer I worked full time and I spent all of money paying off my credit card debt only for it rise again My credit score is pretty bad especially since I opened a new credit card account
Comment from : I changed my username because it offended people

40 20 40
Comment from : Madhu C M

Nice ❤❤❤
Comment from : Madhu C M

Thanks I’m running with this info!
Comment from : tandy simmons

I'ma try this thanks your greatly appreciated not gonna lie I'm 22 and stressing about what to do on a lot of things but I got to start somewhere
Comment from : tsuntsun

I'm stuck in a housing crisis Rent is now 70 of my income
Comment from : Seyyah Ali

The best investors will often tell you that one vital ingredient for stock market success is an overlooked and underappreciated one: patience I've heard of investors making over $400k profit in this current sinking market, and I'm looking for ideas on how to earn similar profits
Comment from : Joseph Reynolds

The stock Market
Comment from : Thabang Mabapa

Great information bless you
Comment from : Elizabeth Mercurius

respect💯
Comment from : GEMZ IS MAGNIFICENT

You are not saving shit with 20
Comment from : Dain

Is there supposed to be like left over money ? brI get 2504 a month brMy bills really only consist ofbr600 rentbr136 phone br73 wifi brbrIm left with 1695brbrI do the 50,30 , 20 brbrAnd im left with 425 extra money ariund there im confused
Comment from : Nico Angelo

Thanks, man
Comment from : Lance Kotan

I use 50 50 rule 50 for needs and 50 for saving, investing etc
Comment from : Shail Murtaza

Ppl can't manage they money publicly
Comment from : Blessed

❤❤Great video
Comment from : Heba Omar

60- Needs , 25- Wants, 15+- Retirement/savings Because inflation has gone up so bad sometimes the needs will take 60 of your check Make sure you save 15 for retirement though so you can at least retire
Comment from : Ispencer

Monthly needs and "some wants" an average of $2000/mo?? I wish Respectfully, your advice doesn't apply to Canada The fact that Canadians are able to pay a mortgage and put food on the table has stunned my American family members for decades
Comment from : FS

How about tution fee of my university?brBooks buying expenses?brbrIn which category these expenses will go?
Comment from : Imran Khan

Great video!
Comment from : magma Treasures

You are suppose to pay yourself first
Comment from : leo dass

Are you trying to build your income and prepare for retirement? It’s important to choose stocks that are expected to hold up in inflationary environments To combat the negative effect of inflation, it’s a good idea to diversify your portfolio across different asset classes, such as stocks, bonds, and real estate I've been using the services of a verifiable financial advisor Robin Brezik I started with $340k, with her assistance I've have made more than $700k You too can do same
Comment from : Ronald H Story

I find it very interesting on budgeting this way I use to do it but the 20 goes to savings not paying debts I use my credit card only for the "wants" and once I have to pay my credit card, the amount dedicated to the "wants" goes to pay the debt Maybe it is because I do not yet have debt relating to big things 😅 But this is the way it is working for me Thanks for sharing this We appreciate
Comment from : Anne L Ndiaye

Found your video at the perfect time when I needed the mostI wish they taught me this in college,"A good question opens the mind, a statement keeps it closed"Simply brilliant "It's always a good time to be rich, Starting early is the best, you've helped me alot with your advice, imagine investing $4000 and receiving $16,300 Vilma Kim is the best
Comment from : Clara Wakanda

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Comment from : Esther

awesome
Comment from : Adeodatus Abdul

What about investments?
Comment from : hiza

"for whatever reason, they're so busy"br😅😅 well when we have 3 jobs
Comment from : Calakapepe

My needs work out at 34 of take home pay
Comment from : ep1929

I began my investment journey at the age of 33, primarily through hard work and dedication Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time This success reinforces the importance of the advice mentioned earlier It is not about achieving quick wealth, but rather ensuring long-term financial prosperity
Comment from : Raul Romero

you are the king of trading, mango ahead
Comment from : Alla Ilina

I’m a teen and I would like to get wealthy and successful I’m not really understanding the stock market or how to invest What should I do to grow in knowledge of these things?
Comment from : aniyjoon

I grew up poor and frugal, so when I became a high demand specialty doctor (radiologist), I ended up saving/investing about 50 Ha ha ha! Now that I am retired with a federal pension, I could draw down on my investments for more than 30 years and have more annual income than when I was working full time
Comment from : Dr MitoFit

My formula: Invest more than you spend, Needs before Wants
Comment from : WillactMoney

With inflation at 297, I'm looking to enter the market now and ride it out as the economy improves I'm putting together a $50,000 portfolio Do you have any stock recommendations?
Comment from : Patricia Martin

With inflation at 297, I'm looking to enter the market now and ride it out as the economy improves I'm putting together a $50,000 portfolio Do you have any stock recommendations?
Comment from : Lloyd Bernard

Thank you for this video! So enlightening!! 👏🏻
Comment from : Ana Paula Domingos

im glad that im watching this after college, this should help me with life's blunders i suppose
Comment from : BUMBOKLAATRY

I love you 🎉🇺🇬
Comment from : Anit Anit

50 needs like bills insurance etc br30 investing want to build wealth over time br20 wants
Comment from : 360 shawn

Wouldn’t it be great if 50 of your income could cover your needs!
Comment from : Ethan Christensen

As someone living with parents my needs aren’t as great as they would be if I was living on my own for now My savings are at least 30 per month Hoping to increase it as my income grows
Comment from : Addei

Thanks!
Comment from : Joachim Weaver

Investors have just turned back the clock on the Fed’s tightening campaign and cast aside the Fed fears that ruled them for 15 months I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any suggestions
Comment from : Zahair OBrian

Thanks
Comment from : Andrew Jonathan

The hardest part of a budget is starting a budget
Comment from : David Hughes

Thank you so much ❤
Comment from : A A

50-All spend 30-Investing 20- save
Comment from : ELYOR

This is informative and aesthetically pleasing to listen to
Comment from : Amaranth

Investing is considered a bedrock in making generational wealth Most people don't know when, where or what to invest in Fortunately, great investors of the past and present can provide us with guidance and ideas Meaningful contributions are always welcomed
Comment from : Mr Steve

I have a 3 fund portfolio consisting of 33 S&P, 33 Total stock, and 33 international I feel a need to focus on complete growth so I went 100 stocks, but does the SP500 and TSM overlap too much to make sense holding both? However I’ve been in the red for a month now I work hard for my money, so investing is making me a nervous sad wreck I don’t know if I should sell everything, sit and just wait but watching my portfolio of $450k dwindle away is such an eye -sore
Comment from : William Yejun

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?
Comment from : Addilyn Tuffin

I say 30 savingsbr20 wants
Comment from : LoveAlwaysWin

Thank you so much for this amazing and helpful video
Comment from : Muhammad Naveed

yes thank you
Comment from : mduduzi zungu

Kiyosaki as my late husband would say have achieved an incredible feat in the stock market He turned thousands to billions, and have made a lot of people wealthy in the process I really saw the potential of the stock market by reading Berkshire's annual letters I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market I just don't want to lose everything
Comment from : jessica moore

Nice
Comment from : The Mindie Molina Show

Additional break down- 10 tithing, unknown percent medical, unknown percent inflation/price gouging,
Comment from : D Aug

I save a lot of money by eating in So $400-$500 mo gets me healthy food Also weight loss due to hidden (cheaper) oils in restaurants (need to know your ingredients) Take your daily eating out and multiply by 30 days Compare to my grocery bill
Comment from : Tiff Hamill

Hello, I’m new to your channel I am in my early 20s I am turning 25, and I am learning how to manage my money This video is straightforward to the point and I’m learning everything I can about finance and managing money Also, I am learning about frugal living there’s lot of misconceptions people make about frugal living thinking you cheap when the point of it is being intentional or cautious with your money brbrThis video is helping me learn how to manage my money Next, I might need to learn how to budget which I don’t know how to do yet
Comment from : KarolineTheArtist

The pandemic has shown us just how quickly decades of planning, investing and saving can be completely upended This could mean your current financial plan might leave you without enough money to last your retirement A recent Vanguard study found that, on average, a hypothetical $500K investment would grow to over $34 million under the care of an advisor over 25 years, whereas the expected value from self-management would be $169 million, or 50 less
Comment from : Sherry Brooks

Stocks and securities are over rated
Comment from : William Johnson

a car is a want or need?
Comment from : Maynor Herrera

I don't know if anyone can teach someone how to invest? I had no idea how it works
Comment from : Balikis Bolanle

Love it 👏 simple and easy to follow
Comment from : Joshua Paul

My problem is, I am gonna be living with my dad for as long as it helps me, to some it might seem like I am immature or just a manchile bcs of this but listen, we live in a 4 bedroom house, 6 months of the yr he isnt even home In 2 months I am finishing school and getting a job By living with him I dont need to put 50 of my income into needs, I can do 50 investing, 30 wants and 20 needs (want to pay the electricity bills etc for him) I get alot of hate for this but most ppl dont realise how much money I will have saved up by the time I will be 26 (my gf graduates when I am 26), right after she graduates we can make a deposit worth most of the mortgage and move in to a decent house together thanks to the money we will have saved up Is it stupid to think like this or any ideas how I can improve my plan? (planning on splitting my investments between index funds and stocks)
Comment from : Reddit Conspiracies

I always save money for education, but this week I had to spend some of that money on a health emergency and I was so angry Now I understand that it's also clever to save money for that moments, so I don't feel like Im stealing from my education funds
Comment from : Gianna Paulina

Even though this was only a seven minute video you literally just taught me something I wasn’t even taught in highschool I’m about to be 23 and I’m terrible with my finances and I know I must do better I didn’t want to watch someones 10 minute video on how they break down their own personal budget I’m glad you uploaded this!
Comment from : Fanny

Im here with fresh school graduationbrand thanks mate
Comment from : NHOLHUDHOO

Everybody by Force will learn how to make money because our needs and wants won't allow us settle but we need people like you to teach how to manage our moneybrThank you so much
Comment from : Topthinkug

Really important knowledge for us to know 👍🏻
Comment from : Financial Independence UK Academy

I need help with managing money
Comment from : Rousic Reasoning

Awesome insight! Your capacity seems limitless Making a plan and being aware of your financial needs are still the best ways to be ready for anything I've been investing for 11 years and am quite happy with my choice The good news is that it's not too late; fortunately, I was able to ensure a $250k profit in the first quarter of 2023
Comment from : Bobby Blue

The 50/30/20 rule is a great baseline, but once you understand this, start to refine your percentages for yourself I've been able to increase my investing percentage to 37 of my income over the years
Comment from : Cori Arnold | Win With Your Money

America is done All signs suggest that 2023 will be a year of severe economic pain all over the nation Put those money to work now to make it grow I knew I had to invest I didn't think a few hundred dollars a month would add up But it is From 2020 to date, I have made around $600,000
Comment from : alex young

What is your favorite financial system? Marko
Comment from : Monther Qandeel

Does saving for a house go into the needs category in the current unaffordable market?
Comment from : Y B

Unfortunately The majority of individuals seem unaware of and careless when it comes to investing, despite the fact that it should be the best thing a person can do for himself My gains from stocks and cryptocurrencies are still having a significant impact on my fortune So I have no inclination to rely entirely on my pay or to wait for the market to go up
Comment from : Kelvin McDonald