It’s normal for someone to want to rescue but I don’t know where to start. It is often thought that it is necessary to earn a large amount of money in order to be able to save some of it, but this is not entirely necessary.

The first thing you need to do is a plan to use money responsiblyThis creates a solid financial basis, so that there is a balance between what is spent and what can be saved.

The premise of the 50/30/20 rule It can act as a starting point to organize spending to gain control that can lead to savings, the Chase portal says.

What is the 50/30/20 rule about?

This financial savings system is primarily based on organizing the monthly income that an individual can observe them and categorize them into three parts based on expenses and percentages, according to BBVA these are:

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The purpose of this shared use system is becoming increasingly popular among those who save for the future and they want to have control over their monthly expenses without it becoming a kind of torture.

Is there any difference?

Finances, like everything else, They have basic principlesOne is that when saving, expenses are subtracted from income, resulting in savings: visually this would be: expenses – income = savings.

However, The order of the factors changes when the 50/30/20 rule is put into practice.this means that savings are deducted from income, resulting in this: income – savings = expenses.

This change means that, although it may seem trivial, the person takes into account the percentage of savings he has to make every month and in this way he has to put aside that amount from the moment he receives his income.

(JO)