No matter the size of your paycheck, it's always wise to take good care of your hard-earned money. And that's where personal finance comes in, lending a helping hand! Managing our budget ensures we have money to cover our needs and leisure activities while reaching our financial goals.One of the most common budget techniques is the 50 - 30 - 20 rule. What does it mean?&nbsp;<ul><li style="color: rgb(14, 16, 26)">50% of your earnings should go toward your basic needs and everyday expenses, such as groceries, bills, and more.</li><li style="color: rgb(14, 16, 26)">30% of your income should go towards all the extras in life that make you smile. You don't need them, but it is nice to have them. Some examples include travelling, eating out, and having fun.&nbsp;</li><li style="color: rgb(14, 16, 26)">Lastly, the 20% remaining would go towards your future. This category would include trust funds, savings and your retirement plan. <img src="https://letcheck.b-cdn.net/1428/2-1729017413242.png" alt="description-image" style="width: 221px; height: auto; cursor: pointer; margin: 0px auto 0px 0px;" draggable="true"></li></ul>You can tweak the percentages and the categories depending on your financial goals. This is an example of what your budget might look like:<ul><li style="color: rgb(0, 0, 0)">55% goes to expenses.</li><li style="color: rgb(0, 0, 0)">10% to do things you enjoy doing.</li><li style="color: rgb(0, 0, 0)">10% to your retirement fund/investment.</li><li style="color: rgb(0, 0, 0)">10% savings.</li><li style="color: rgb(0, 0, 0)">10% personal development.</li><li style="color: rgb(0, 0, 0)">0.05% charity, donations, supporting others.&nbsp;</li></ul>There are two essential rules here:<ol><li style="color: rgb(0, 0, 0)">You can only spend within the designated category e.g. you don’t use your savings to pay for bills and vice versa.&nbsp;</li><li style="color: rgb(0, 0, 0)">If you don’t have it, you can’t spend it. You need to wait for the next week/month to replenish your budget.</li></ol>It is wise to open different accounts for each section. That helps distribute the funds and manage it more easily. You can always withdraw cash and put it in envelopes. In the long run, this exercise makes you believe there is money for everything that matters to you.&nbsp;Staying within your budget can be quite a task, as some categories may tempt you to spend a little extra. However, fear not! With time, you'll master the art of spending the allotted amount without breaching it.&nbsp;What does that have to do with our well-being?&nbsp;If you think about it, our time is very similar to our money. One could argue that you can create massive wealth, but can you create unlimited time? Unfortunately, the answer is no.Whether you are talking about your income or your time, it is all about finding the right balance to spend it. That is where well-being lies.&nbsp;Spending all your income to pay for your expenses will make progressing in your career and leading a fulfilling life difficult. In the same way, If you only spend your time pursuing your career, the quality of your relationships will suffer, your ability to bounce back from challenges will be diminished and enjoying life will get progressively harder.&nbsp;Our time is equally as precious as our money, if not more. That is why we must pay attention to how we spend it. Finance teaches us how to budget our income based on our priorities. Can we use the same principles to create wellness? Absolutely!&nbsp;Taking care of your well-being goes beyond having the means to handle obstacles and bounce back. It's about embracing a fulfilling life where you have time to pursue the things that bring you joy and fulfilment.There should be time to:&nbsp;<ul><li style="color: rgb(0, 0, 0)">Develop your career (50%)</li><li style="color: rgb(0, 0, 0)">Have fun and socialise (30%)</li><li style="color: rgb(0, 0, 0)">Check-in with yourself and do what you care about (20%).&nbsp;</li></ul>I know your priorities might be others, and that is perfect. We are all different. What would they look like for you?Please feel free to use this concept to tailor it to your needs.<img src="https://letcheck.b-cdn.net/1428/4-2-1729016464534.png" alt="description-image" style="width: 315px; height: auto; cursor: pointer; margin: 0px auto;" draggable="true">

How to use finance principles to increase wellbeing and nurture your self-love. 

Elevating Your Well-being Using Finance Principles. 

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Elevating Your Well-being Using Finance Principles.

Elevating Your Well-being Using Finance Principles.

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