At the end of the month, everyone smiles as they work home with their paycheck. We receive these notifications from our banks month after month, indicating that our salaries have been paid or earned some revenues. But just before we relish the exciting news of our hard-earned money, our minds begin to calculate the mounting bills we need to pay and all the things we would love to buy. People who drop their reviews about US companies on US-Reviews also complain of how they rarely have anything left to save after settling bills.
The question that financially conscious people often ask is, “How much should I save and invest this month?” Paying yourself first is one of the fundamental principles of personal finance, i.e., saving first before spending on anything else. How much you choose to save and invest depends on many variables, including your age, level of income, family size, overall cost patterns, and the goal of financial freedom.
Taking all of these into account, a monthly saving of around 20 percent is suitable for young income earners. Why twenty percent? It follows the rule of thumb of 50:20:30 personal finance. While this is not a one-cap-fits-all rule, it …
