How to become rich with 9-5 job 💰 This is the easiest way …

1/ Budgeting - The 1st 🏃 to financial freedom ‼️

If you earn, you need to budget your money.

A budget is telling your money where to go instead of wondering where it went.

Budgeting your money is an investment in your future.

2/ Start budgeting your money. Have a plan about how to use the money you'll receive.

Don't think that your salary is less and you can't save. You can. You just have to find a way out.

The sooner you start Investing, the sonner you'll be a millionaire.

3/ So, the million dollar question - What's 50:30:20?

If you have just started your career, the 50:30:20 formula is the best one and the simplest to follow. ( Btw not only for starters, anyone can do it 💯)

4/ This is how you must allocate your money and make a budget 👇

50% - Needs (Rent/EMI, Food, bills, etc)

30% - Wants (Car, A trip, Electronics, etc)

20% - Save (Retirement, education, etc)
Invest ( Stocks, Real estate, gold)

5/ Let say : You earn $1000 a month

Allocate -
50% on Needs - $500
30% on Wants - $300
20% on Saving & Investing - $200

(Wants are also necessary. Everyone needs a trip. Enjoy your life, but also Invest‼️)

6/ The Bonus -

Now that you've understood how to budget your money. Let's understand how to increase your saving/Investing.

Specially for the people who are in their 20's/30's.

When you gain experience in your job, you'll also get increments (Salary hikes)

7/ But, What most people do is : when they get an increment, they increase their proportion of expenses in wants.

Don't do this ❌

Instead, reverse the 50:30:20 Rule (For incremental amount)

8/ Let say : Now, You earn $1200 a month (After increment)

Incremental amount ($200) -
50% Invest - $100
30% Wants - $60
20% Needs - $40

Now, your total allocation will be -
Needs - $500 + $40 = $540
Wants - $300 + $60 = $360
Investment - $200 + $100 = $300

9/ You saw what I did here?

1️⃣ You started with 50:30:20 Rule

2️⃣ You gain experience, get increment

3️⃣ You reverse 50:30:20 Rule on incremental amount

10/ Here's how the calculations work -

For $1000 - For $200 - (Hike)
50% - Needs 50% - Investing
30% - Wants 30% - Wants
20% - Investing 20% - Needs

11/ This method will only work in the long run.

✅ Start early
✅ Make a budget
✅ Keep on Investing for long term
✅ You'll find you've created a huge corpus (Capital)
✅ Then, retire early & enjoy your life 🤗

So that was "How to get rich with 9-5!
I hope you found it useful.

For more educational threads on money, finance, and economics, do follow the page @MoneyWell_

How to become rich with 9-5 job 💰

This is the easiest way of financial planning specially for beginners
(And for all!)

This is how you'll become rich with 9-5
(Hint : Only If you follow 50-30-20 rule)

Wait....What? What's 50:30:20 rule?

Don't worry. Just read‼️👇

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How to become rich with 9-5 job 💰This is the easiest way of financial planning specially for beginners(And for all!)This is how you'll become rich with 9-5(Hint : Only If you follow 50-30-20 rule)Wait....What? What's 50:30:20 rule? Don't worry. Just read‼️👇

You May Also Like

How to become rich with 9-5 job 💰

This is the easiest way of financial planning specially for beginners
(And for all!)

This is how you'll become rich with 9-5
(Hint : Only If you follow 50-30-20 rule)

Wait....What? What's 50:30:20 rule?

Don't worry. Just read‼️👇