Managing Finance - 50-30-20 Rule
This is how you should split up your net income(in hand salary)...
- 50% of your income should pay your needs(Things you can't live without)
- 30% for your wants(good to haves)
- Eating out
- 20% Savings / Investments / Debt payments
- Emergency Fund - 6-12 months of living expense.
- Retirement Planning
PS: I've seen other sources where 30 and 20 are interchanged.