The Street Articles

  The 50/30/20 rule is a guideline for budget allocation to plan your spending to prepare you for the future and unforeseen circumstances. Your budget can be categorized into three simple buckets: Your necessities (50%) Your wants (30%) Your savings & investments (20%) Your Necessities 50% of your income goes to your needs. Your necessities are expenses which are important and can’t be avoided. Examples are housing, food, transportation, medication, utility bills. Whatever that you need to survive should be parked under this category.   Your Wants 30% of your income goes to your wants. Differentiating between necessities and wants isn’t always easy. Simply put, your wants are basically anything that you can live without. They can be the money you allocate for shopping, dining out, hobbies, gym subscription, or anything “extra” that is not essential to living. Hint: Your wants typically involve something that you do for fun. Your Savings & Investments The balance of 20%...

If you are looking for tips on how to grow the first RM10,000 or more in your savings, here are the seven smart ways you can invest and grow it. Read this article to find out. What would you do if you had RM10,000 in your savings right now? Some may splurge it on themselves or use it for their necessities, while others may stash it away for their own investments. Knowing how to manage that money is crucial, especially in this day and age where inflation, almost always, cuts through our money, making it harder for us to retain the value of our savings. In this article, we will explore the different ways you can invest and grow RM10,000. Following the announcement that contributors who are financially impacted by the pandemic could withdraw up to RM10,000 of savings from their Employees Provident Fund (EPF) Account 1, we were intrigued by what a person could actually invest in with RM10,000. Big disclaimer: we’re not advocating that you withdraw RM10,000 out of your EPF savings – what mo...