Good Finance, founding partner of Good Lender is now a columnist for Destak. He writes every fortnight on Mondays the column Your Pocket. In his first text, published on September 28, he talks about Rule 50-15-35, a useful tool to help you organize your finances and control cash outflows.
There are a lot of people managing to transform financial life, even in a time of crisis. In fact, this is an ideal time for you to get organized and take charge of your pocket.
Good Lender’s research has shown that those who start getting organized and looking for ways to control their money periodically can improve their financial health by 15%. Best of all: this happens in just one month!
Ideally, start by understanding how much you get and spend very accurately. And it is not worth using the base gross salary; discounts need to be considered. You can write down all the expenses in a notebook, use an Excel spreadsheet on your computer, or an automated financial control application such as Good Lender. The important thing is to have everything recorded to see where the slips are.
Once you understand where your money is going, it’s time to make a more appropriate and realistic budget. For this, I recommend Rule 50-15-35. For it, you must spend with the essentials (housing, transportation, market, education, health) at most 50% of the income. Another 15% go to the financial priorities, such as payment of debts and financing or investment allocation. The remaining 35% you can spend with lifestyle – bars, restaurants, leisure, travel, shopping etc.
It pays to strive to meet what is planned in the budget. I am sure that by following this line, and being disciplined, it will be easier to control the money that comes out and achieve your dreams.
Good Finance is co-founder of Good Lender, Brazil’s first automatic and free financial manager.
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