Ask Question
BusinessBusiness
12 October, 18:18

You have been working at company for over six months and are still having problems saving money. What could you do to increase your savings? How did the advice from Saving and Budgeting apply to your plan?

+4
Answers (1)
  1. 12 October, 21:42
    0
    I took advice from Saving and Budgeting and implemented the 50-20-30 rule.

    Explanation:

    The rule is as follows:

    Spend 50% of your income on the necessities, such as paying for rent, food, mortgage etc

    Using 20% of your income to either pay of debt or if you have no debt, deposit it in a savings account

    Use the remaining 30% for 'discretionary' pending inducing socializing, a travelling or some hobbies.

    I personally did not have any debt so I was able to save a lot of money by putting away 20% of my income. Of course, this meant, I had little left for luxuries, but the rule forced me to live a more disciplined life.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You have been working at company for over six months and are still having problems saving money. What could you do to increase your ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Taylor, Inc. had accounts receivable of $310,000 and an allowance for doubtful accounts of $19,500 just before writing off as worthless an account receivable from Burton Company of $1,300.
Answers (1)
Cavalier Copper shows on its most recent balance sheet $840 million in total liabilities, $10 billion in treasury stock (recorded at par of $1/share) and $520 million in common stock outstanding (also recorded at par of $1/share).
Answers (1)
San Marcos Athletic Club wants to expand its facilities. On September 1, 2017, it secures a loan by signing a two year note for $250,000 at 5% annual interest. Interest payments are due 12 months to the day the note is signed.
Answers (1)
Entries for Note Collected by Bank Accompanying a bank statement for Santee Company is a credit memo for $15,120 representing the principal ($14,000) and interest ($1,120) on a note that had been collected by the bank.
Answers (1)
Shauntae is 75 years old. he purchased a single life annuity contract that will pay him $3,000 per month for 10 years. the expected return under the contract is:
Answers (1)
New Questions in Business
Robot Corporation is liquidated, with Marty receiving property having an adjusted basis of $60,000 and an FMV of $90,000. The property is subject to a $80,000 mortgage, which Marty assumes. Marty's basis in the Robot stock surrendered is $50,000.
Answers (1)
Sales and commission are based on selling price, not the costs you have been provided. Labor: 13.8 hours at 18.75 per hour Overhead: 92% of labor Material Costs: $65.
Answers (1)
When airbnb customers in malibu start paying hotel taxes, this will have the potential to raise the equilibrium price in this market and, therefore, decrease efficiency.
Answers (1)
Curtain Co. paid dividends of $14,000; $17,500; and $21,000 during Year 1, Year 2, and Year 3, respectively. The company had 2,400 shares of 7.0%, $100 par value preferred stock outstanding that paid a cumulative dividend.
Answers (1)
In order to accomplish the productivity plan, several Subject Matter Experts from various parts of the organizational have been enlisted. As a result, you have noticed friction and conflict among team members.
Answers (1)
Home » Business » You have been working at company for over six months and are still having problems saving money. What could you do to increase your savings? How did the advice from Saving and Budgeting apply to your plan?
Sign Up Forgot Password?