Eating out at restaurants or cafes, or ordering takeaways.Wants can vary, but may include things like: So for example, if you take home £1,800 each month, £540 should go towards this category. In line with the 50/30/20 rule, you should put aside 30% of your income (after tax) for your wants. ‘Wants’ can be classed as non-essential expenses - so things you like to spend your money on, but don’t actually need day-to-day. If you have an expensive phone contract, you might also want to consider switching to a cheaper plan. ![]() And if your insurance is up for renewal soon, you could shop around or use a comparison website to find a better deal. For example, instead of going to one supermarket to do a food shop, you could visit a few supermarkets to make the most of the various offers available. If you find that your needs are costing more than 50% of your income, there may be ways to bring down these expenses.
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