Tools, practices and methods
The world is full of amazing tools that may be perfectly suited to accelerate our journey, but often we only discover them through chance encounters, and can lose years being stuck in sub optimal loops.
Our endeavor is to catalog a growing list of tools and eventually match them to you based on your context.
The 50/30/20 Budgeting Rule
The 50/30/20 rule is a budgeting principle that recommends dividing your after-tax income into three main categories: allocate 50% to essential needs such as housing and utilities, 30% to discretionary wants like entertainment and dining out, and reserve 20% for savings and debt repayment, encompassing contributions to savings accounts, retirement funds, and debt reduction.
The Envelope System
The envelope system is a budgeting method that involves allocating and managing cash for different spending categories using physical envelopes. This system is designed to help individuals and households control their spending, prioritize financial goals, and avoid overspending in specific areas.
Help us build this list, please suggest any tool / method or practice that you know.