How To Determine The Amount Of Savings You Need?
To calculate your savings target, assess your financial goals—short, medium, and long-term, from buying a home to retirement.
Consider the 50/30/20 rule for budgeting: Allocate 50% for needs, 30% for wants, and 20% for savings each month.
Earning a good income is important, but it's equally crucial to regularly monitor and assess your expenses to reach your financial objectives.