How I Stopped My Money From Disappearing (the 50/30/20 Rule) - Investment - Nairaland
Nairaland Forum › Nairaland General › Investment › How I Stopped My Money From Disappearing (the 50/30/20 Rule) (622 Views)
| How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Echezo(op): 6:47am On Sep 01, 2025 |
I no dey collect salary again; these days, I earn from my own hustle. But whether it’s salary or business money, the problem na the same: money dey enter, money dey vanish. 😅 What really changed things for me was applying the 50/30/20 Rule. It’s a simple way to manage money so you’re not broke before month end. 👉🏽 50% for Essentials : Food, bills, transport, rent (if you pay one). Basically, the things you must spend on to survive. 👉🏽 30% for Wants : Enjoyment no dey bad. Outings, shopping, entertainment. Just balance am so it doesn’t consume everything. 👉🏽 20% for Savings & Investments : This one dey keep me steady. I set money aside for emergencies, savings, or something small that can grow over time. The truth is, the first few months no easy. But now I fit look back and see how far I’ve come because I’m not just working hard, my money too dey work for me. I share this because it has helped me stay in control, whether the month is good or slow. Maybe it can help someone else here too. 👉🏽 For me, the “wants” side still tempts me sometimes. How about you? Which part of this rule do you struggle with most? My name is Echez O' Ford, I hang out writing at successzenith 2 Likes
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| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Celestialsword: 6:51am On Sep 01, 2025 |
What of house rent,can 20% of your savings pay for your house rent annually 2 Likes |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Thereedemer: 8:08am On Sep 01, 2025 |
Celestialsword:Maybe na Canada him dey What of house rent,can 20% of your savings pay for your house rent annually 21 character needed |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Stephen0mozzy: 8:27am On Sep 01, 2025 |
Celestialsword:You're not expected to save your one year salary in a month na. Your monthly rent should be covered in the 50% kept for Needs (and kept aside for those who pay rent annually). If your monthly rent (annual rent divide by 12) is greater than 25% of your monthly income, then it's too much, and you'll likely need to be doing 70-20-10. Sha just save money. 3 Likes |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Echezo(op): 7:01am On Sep 02, 2025 |
"shaa, Just save money," that is the point my friend. Stephen0mozzy: 2 Likes |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by ibechris(m): 9:12am On Sep 02, 2025 |
If I were u,I would do the reverse. 50% savings and investments 30% feeding and 20% leisure. 2 Likes |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Sirchiboy: 11:04am On Sep 02, 2025 |
Echezo: |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Sirchiboy: 11:06am On Sep 02, 2025 |
Can you break it down into four place with rent percent as its own entity 👉🏽 1 Like |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Echezo(op): 12:38pm On Sep 02, 2025 |
Abi na 😊 Thereedemer: |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Echezo(op): 12:40pm On Sep 02, 2025 |
20% leisure is not bad at all, it can eve go lesser, but I tried to accommodate all here buddy. ibechris: |
| Re: How I Stopped My Money From Disappearing (the 50/30/20 Rule) by Echezo(op): 12:44pm On Sep 02, 2025 |
sure thing, especially if you are serious: 1️⃣ Rent – 20% Set aside about 20% of your income for rent. If your rent is yearly, divide it monthly and start saving small small so you don’t struggle when the bill comes. 2️⃣ Essentials – 40% This covers food, transport, electricity, internet, and other basic bills you must handle every month. 3️⃣ Wants – 20% Things like shopping, outings, entertainment, aso ebi, data bingeing. Just control it, and if you can get it to be less than 20%, you will do better. 4️⃣ Savings & Investments – 20% Put money aside for emergencies, savings plans, or investments (mutual funds, cooperative, or even a side hustle that brings returns). The idea is not to be rigid but to create balance. And some months, if things lighten up, save and invest more. And keep looking for ways to cut down on expenses, no body gets financial freedom through spending. PS. If your rent is very high, you can adjust a little but make sure savings doesn’t disappear completely. That’s what keeps you from starting over every year." Sirchiboy: |
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