The 50/20/30 Budget

It is undoubtedly difficult to live in this concrete city on a budget. While the barrier to saving is definitely high, let us loosen up a bit and introduce you to the tricks to budgeting!

Among all the doable saving options that we can follow, the 50/20/30 Budget is the relatively more popular one. As the name suggests, we have to allocate our salary according to the proportion mentioned, in order to prevent excessive spending. 

To make it off to a good start, firstly we would have to place 50% of our monthly pay for essential needs. It might include rent, bills, groceries and transportation fees. 

Secondly, the 30% of it would be solely dedicated to your shopping sprees. (YES!) Feel free to enjoy your staycation, spend it for the movies, grab the latest gadget or makeup beauty boosts.  

The last 20% that remains goes to your savings. Apart from saving it for emergency fund, you can of course make good use of those to invest. Make sure you have a detailed digest on each saving trick, to optimize it for your financial goal. 

Although 50/30/20 is the golden rule of thumb, things may not always happen as expected – and this is the time when your contingency plan comes to rescue! We can make slight adjustments to our budget, might as well do it with a little extra help using additional tools. Speaking of that, tiips has recently launched the latest eDDA feature for purchasing gold every month! After each monthly auto-transaction is confirmed, users would be receiving reminders for the status updates accordingly. While the steps are just easy peasy, it frees up our time and declutters our day as we don’t have to select the suitable wealth building product manually every month. If saving or living on a budget has been bewildering you, then this 50/30/20 budget could be an alternative option. 


tiips Calculator