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Anonymous

22 Dec 2021

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How would you adapt the 50-20-30 expenditure-savings-wealth method when you have to save for big ticket items?

I'm currently trying to save for my wedding and house, and currently use a 50-20-30 system to allocate my income. How would you allocate your income to save for big ticket items? Does it eat into the expenditure budget?

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1M45

Edited 22 Dec 2021

Never used that rule for budgeting. There is no fixed formula.
Work out the basic expenses for necessities, food, transport...... that is the fixed monthly overhead
Then build up emergency fund
the rest will need to prioritize, it takes sacrifice. You can rack up the amount you need for the big ticket item in 1 - 3 years.

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