Good evening Gents,
Was contemplating my navel and punting expenditure and came across an article which recommended how you should spend your hard earned cash.
The 50/20/30 rule suggests you should spend 50% of your income on living expenses, 20% on savings or achieving your financial goals and 30% on wants or discretionery spending.
Being the type I am (and luckily never having rugrats) my living expenses are much lower, my savings considerably higher and my wants no where near 30%.
Although as I enter my pre retirement stage I am lucky to be in a very comfortable financial position, I realize that maybe, I should start to splash out more and allocate more of my funds to that 30% mark.

Often there are threads on here about how much to spend on punting weekly, etc do you think this 50/20/30 is a good strategy?

Me thinks that to get to that comfortable financial position it might be prudent to allocate more into savings esp when you are young.

We all talk about a work/life balance and I know that in the past I have not had as much fun as probably I could have, based on this strategy.

Would you say 30% of your income spent on mongering and other Me activities ( trips, restaurants, events etc ) is realistic?

Puff Puff Prof

PS No I'm not an accountant.