Last Updated on November 4, 2022 by admin
Here are some of the most popular TikToks about saving money:
- The 50/30/20 Rule
- This TikTok from @thebrokemillennial breaks down the 50/30/20 Rule, which is a simple way to budget your money. The rule goes like this: 50% of your income goes towards essentials (rent, food, etc.), 30% goes towards wants (shopping, travel, etc.), and 20% goes towards savings or debt repayment. This rule is a great starting point for anyone who wants to get their finances in order.
2. The Envelope System
@thebudgetnistadreams shows viewers how to use the envelope system to save money. The envelope system is a cash-based system where you put money into different envelopes labeled with different expenses ( rent, food, entertainment, etc.). Once the money in an envelope is gone, you can’t spend any more in that category until you replenish the envelope with more cash. This system can help you stay mindful of your spending and avoid overspending in any one area.
3. Investing Tips
Investing can seem like a daunting task, but @kelly_finance makes it seem easy with her investing tips on TikTok. She recommends starting small and investing in what you know; for example, if you’re passionate about makeup, consider investing in beauty stocks. Kelly also stresses the importance of having a diversified portfolio; this means investing in different types of assets (stocks, bonds, real estate) so that your risk is spread out and you’re more likely to see gains over time.
