Tittaphoa
@yukitomi
http://imoney.rubystdio.software iMoney - A personal finance management app that assists users in effectively managing their income and expenses through the 50/30/20 rule. Allot 50% of income for essential needs, 30% for personal spending, and 20% for savings or debt repayment.
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Tittaphoa
@yukitomi
50% of income should be allocated for essential needs. Essential needs are the expenses that you're obligated to pay each month regardless of location or activity. These can include rent, main food costs, transportation expenses, utilities like electricity and water, health insurance, any bank loan interests, etc
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Tittaphoa
@yukitomi
The 50/20/30 rule is a budgeting principle that divides income into three segments; 50% for essential needs, 20% for savings and investments, and the remaining 30% for personal wants and desires.
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