You’re making good money, and it’s easy to want to blow that whole paycheck. But we’ll show you a simple rule that will allow you to live large and get your financial house in order too.
If you went into finance for the love of pulling 15-hour days, more power to you. But if working in anticipation of that fateful day in February when your bonus hits your bank account, let’s just say that you aren’t alone.
When your monthly paycheck arrives, you might get stars in your eyes. You forget about that massive student loan and nagging credit card bills. Suddenly bottle service every weekend seems like a great idea. Who doesn’t love those sparklers? If you’re not careful, those morning hangovers could have a lasting effect on your bank balance. Here’s a quick crash course in how to divide up your earnings like a boss—ahem, managing director so that you can still afford the life you want without busting your budget.
Let’s discuss some general guidelines, which make up what we like to call the 50/20/30 Rule:
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