How to spend your monthly salary?

Monthly salary expenditures should be budgeted based on personal circumstances and needs. Here are some common spending categories and suggestions:

Living necessities: These expenses include things like rent or mortgage, food, utilities, communications, health care and insurance premiums. You can allocate your budget proportionally based on your personal needs.

Savings: You should put a portion of your income into an emergency savings account for emergencies. It is recommended to put 5% to 10% of your monthly salary into an emergency savings account.

Debt repayment: If you have any outstanding debts, such as credit card debt, loans, etc., you should prioritize paying them off. It is recommended to devote 10% to 20% of your available income to debt repayment each month.

Entertainment expenses: You can set aside a portion of your budget for entertainment expenses, such as shopping, travel, and entertainment activities. It is recommended to set aside between 10% and 20% of your monthly salary for entertainment.

Investment: If you have idle funds, you can consider investing in stocks, funds or real estate, etc. Investing can help you grow your wealth and achieve your long-term financial goals.

In short, everyone’s income and expenditure are different, and they need to make budget planning based on their own specific circumstances. Creating a budget plan can help you manage your money wisely, avoid waste and debt, and help you achieve your financial goals.