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The question of "how much money should i spend"?
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[QUOTE="Mika, post: 264808, member: 29399"] I don't think anyone should have a difficulty in answering a simple question like "how much money should I spend?" If you know the rule of 50/30/20 in personal budgeting, you should be able to answer this question. The rule of 50/30/20 says that you should spend only 50 percent of your income on necessities, you should save 30 percent of your income on fun/enjoyment/luxuries, and save 20 percent of your income on emergency funds and investment funds. The rule says your spending should never be more than 80 percent of your income and the 80 percent spending should cover everything from your rent, food, loan repayments, credit card bills, health care expenses, buying new clothes, going to movies, etc. The rule of spending 50 percent on necessities and 30 percent on luxuries is the maximum you can spend on these categories. If you can keep your expenses lower, and add more to your savings on investment funds or emergency funds, that would be better. [/QUOTE]
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