We all worry that money is being spent more than we earn. That is, the income is eighty and the expenses are rupees. However, the reason for spending too much is our unthinkable purchases. In the midst of the corona crisis, bumper discount offers are coming from our e-commerce site on our-your-phone or e-mail. Many times, we even buy unwanted items in the greed of the offer. This will adversely affect our financial condition. To avoid this, we can take the help of rule 30.
What is Rule 30?
If you want to buy something and you’ve got an offer, you still have 30 days to wait. If you think you need that product after 30 days, definitely buy it. If you forget that product after 30 days and do not feel the need to buy it, you will automatically avoid that cost. That is, Rule 30 prevents you from buying suddenly. Because of this, you are saved from buying unnecessary items.
Also Read: Reserve Flight Ticket for Rs 999, Monsoon Sale of Alliance Air from Saturday
The 50/20/30 rule also works
Also Read: Market Price: Price of edible oils, mustard, crude, tin declined by Rs 2,365, gram barley and lentil prices
Under this, financial advisers recommend that 50 percent of our after-tax earnings can be spent on essential things. 30 per cent can be spent on luxury or desires. However, luxury spending can be optional. That is, they can also be avoided. Such expenses include inking at the best restaurants and buying the latest gadgets. 20% of monthly income should be invested for savings and financial goals.
