I'm a college student and I have much MUCH less wisdom about finances than pretty much everyone on this sub. That said, I feel like sharing a tip that if someone like me can follow, anyone can.
I live by the 20-50-30 rule. With any money I receive (income, birthdays, etc.) I allocate 20% into an investment account (I find the Betterment app to work well if you don't know what to do), 50% goes towards survival (food, necessary clothing, transit, rent, etc.), and 30% goes towards whatever you want. You earned that and don't need to feel guilty about how you spend it.
That's really it. I'm sure there are better options than Betterment as far as investing goes. I'm not sure if this is a common knowledge rule of thumb or if it's just something my mentor came up with. I'd love to hear what you guys think about this.
Submitted August 02, 2017 at 09:45AM by Ninenine222 http://ift.tt/2voRTUZ
