BOOST YOUR FINANCIAL POTENTIAL WITH THESE WEALTH STRATEGIES || इन धन रणनीतियों के साथ अपनी वित्तीय क्षमता बढ़ाएं || 50/30/20 RULE IN FINANCE
"Maximize Your Financial Potential: A Strategic Approach to Wealth Building" 50/30/20 FINANCE FORMULA Allocating 50% of your after-tax income towards essential expenses, also known as needs, is a fundamental aspect of the 50/30/20 rule. This category includes expenses that are necessary for your basic living requirements and well-being. Here's a more detailed breakdown of what falls under the "Needs" category: 1. Rent or Mortgage: This is typically the largest expense for most individuals or families. It includes your monthly rent payment or mortgage, property taxes, and homeowners' insurance. 2. Utilities: This category covers essential services like electricity, water, gas, heating, and internet or phone bills. 3. Groceries: Food is a basic necessity, so your grocery expenses fall under this category. This includes both groceries you buy at the store and dining at home. 4. Transportation: Costs related to commuting to work, school, or other essential d...