The Economic Times News

Smart Money Tip of the Week: How the 50-30-20 rule helps you take charge of your money

It is essential to strike a good balance between our current needs and future requirements. The amount of money required for future life goals like retirement is so much that it cannot be accumulated during a short period of time and needs dedicated long-term planning. The 50-30-20 thumb rule can be used to guide you on how much to save and spend in a month.