![](https://blog.shecluded.com/wp-content/uploads/2023/08/I-Lifestyle-2-1010x569.png)
1. 50/30/20 rule
This rule applies to how to distribute your income:50% should be spent on your needs e.g. mortgage/rent, bills, food, work transport, etc.30% should be spent on your wants e.g. clothes, nights out20% should be saved or used to pay off debtFor example, let’s say you earn NGN 40,000 monthly (after…