The 30:30:30:10 Rule 

The 30-30-30-10 plan is helpful as a reference for covering your house expenses,savings,paying off debt , and still allowing you to spend and have fun. You can use this rule for ypur retirement savings too.

A benchmark 

The 30-30-30-10 rule isa benchmark that help you save a specific portion of your earnings each month.it isa percentages - based budgeting trick that sets a benchmark for expenses in different essential categories , says the kotak Mahindra bank website.

How to use the rule 

30% for the children as inheritance;30% for your own future to protect from inflation ; 30%to spend and use and live the retired life;and 10% for emergencies , says Uma shashikant , Chairperson, Centre for investment Education and Learning.

Where to invest 

The 30% meant for inheritance can be in equity ; the  30% for the future could be in a hybrid product that has equity and debt ; the 30% for spending needs to be in income bearing debt and the 10% for emergency should be in liquid assets .

Use this if...

Want to prioritise financial goals; have goals that need considerable money to be achievable; want to create an emergency fund, Cut unnecessary expenses.

Steps to follow 

Figure Out monthly income,categorise expenses,list down financial goals , start spending and reviewing regularly. 

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