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Home » 3 Simple Steps To Manage Your Money Every Month

Do you find your bank account empty every month, wondering if you earn enough to even save? Whether you’re a student, fresh graduate or working toward retirement, you don’t need to be an expert in finance to manage your money well.

Knowing what to do with your hard-earned money isn’t difficult. Anyone can learn how to save their money and grow their wealth by following these 3 simple steps from the popular 50/20/30 rule.

What is the 50/20/30 rule?


Whether you make more or less than RM2000 a month, the 50/20/30 rule is a simple budgeting plan anyone can follow.

This will help you grow your savings every month and keep you in control of your money (instead of spending it all!).

Step 1: Set aside 50% for your monthly needs


Say you make RM2,000 a month (net income), so 50% of your income would be RM1,000. This means you need to set aside RM1,000 for the most important, necessary expenses such as:

  • Your Rent or Mortgage
  • Utilities such as water and electricity bill
  • Groceries & Food
  • Transportation
  • Debt & Credit Card bills


Step 2: Set aside 30% for your wants


30% of your money can go into things you don’t need. With a net income of RM2,000, RM600 can be spent on:

  • Movies
  • Lepak Sessions
  • Netflix/Spotify/Gaming subscriptions
  • High-Speed Internet
  • Vacations
  • Electronic Gadgets
  • And of course… Bobba Teas

Step 3: 20% goes into savings


Always remember to pay yourself first before allocating money to your needs and wants. With a RM2,000 net income, you should always put away RM400 (20%), into your savings account.

Your savings portion should go into:

  • Emergency Funds (for those rainy days)
  • Investments (assets that grow your money such as gold, stocks and real estate)

The 50/20/30 isn’t a hard and fast rule

If you feel that more money is needed for necessities in a particular month, you may decide to cut down on your wants, and if you absolutely have to – your savings. More often than not, you will find yourself having to make minor adjustments to the 50/20/30 rule.

For example, if you have more money left over from your necessities and wants, you should put them into your savings!

Set a goal & manage your monthly savings, right from your mobile phone

Download the HelloGold app and subscribe to the SmartSaver Plan – an automated monthly gold savings plan that was designed to help you save that 20%!

With SmartSaver, you:

  • Never have to worry about saving
  • Can set specific goals to save for (wedding, emergencies, etc)
  • Can relax and watch your savings automatically grow

Instead of stressing over managing, calculating and budgeting your money manually, let SmartSaver handle your savings for you! Simply set the amount you want to save every month and HelloGold SmartSaver will automatically purchase gold savings for you at the best prices every working day.

Let us manage your savings for you. Watch this video on how SmartSaver works.

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