Setting up your budget
Spend only about 80% of the money you get and save the other 20%. Use 80/20 rule when planning your budget. Divide your income into at least two categories:
Expenses – 80% of the budget
Money that you will spend in the short-run (e.g. lunch at school, cinema, etc.).
Savings – 20% of the budget
Money that will be spent on more expensive things (e.g. a smartphone, clothes, etc,)
With our expenditure monitoring tool My Budget you can easily keep track of your spending. There you can see a categorized overview of your expenditure and find out where you’ve spent money and where you might save. To learn more and start using the tool, press here.