Money is an important factor in everybody’s life. It is absolutely necessary for supporting your own and your family’s living. Based on the income structure, the lifestyle differs from person to person but without money no one can ever think of anything possible. In a middle-class family, generally after you receive your salary, major portion of the money disappears within the first few days of the month while paying your regular bills, loans, EMIs, etc. As a result, it becomes very difficult to manage financially during the later phase of the month. It would be quite disappointing if any emergency situations arise where you require a good amount of cash in order to recover from the situation.
Thus, it is always advisable to have a reasonable amount of money saved up which will be of great help during adverse situations. The best way to do it is to follow the 15-35-50 rule, i.e. set aside 35 percent of your salary for absolute essentials, a heavy 50 percent for all kinds of installments and monthly bills and save the balance 15 percent every month into a new savings account. In this way you will remain financially secure and it will definitely increase your confidence. Money View is a financial planning application that helps you in planning such kind of things effectively and also tracks your expenses automatically so that you can check and rearrange your budget according to your needs. The application is very user friendly and it comes for absolutely free of cost. Simply download the application and start managing your finance effectively by streamlining your expenses. By the way , have you ever seen a personal finance app?
