The simple rule that could help you master saving for the future

Margaret Canning considers whether the 50:30:20 method could help unruly spenders, herself included, to get their money under control For financial planning, you could consider adopting the 50:30:20 rule, where you spend 50% of your income on needs, 30% on wants, such as indulgent shopping sprees, and 20% on saving We’re always told to be more sensible with our money, and to have a healthy amount saved for a rainy day. But speaking from experience, advice like that, wise and necessary though it is, can often become like a background hum that’s very easy to tune out of..