Mom always said "money can't buy you happiness" but was she right? Yes and No. While money cannot purchase life long joy, it certainly acts as an investment in your overall wellbeing.
According to the concept of primary foods outlined in my course studies at IIN, living a well balanced life doesn't just mean eating right, it means finding stability in all areas of your life. These areas include spirituality, career, physical activity, relationships and finance, to name a few.
In order to find personal "money merriment," wealth management expert Manisha Thakor, developed a simple budgeting equation that can turn even the biggest spendthrift into a savvy saver!
Thakor's equation evaluates a person's take home income (before taxes) and breaks it up as follows:
50% = Needs (housing, transportation, food, insurance, etc)
30% = Wants (things that bring you joy)
20% = Savings
By applying these percentages to your ledger, you will be able to prove Mom wrong by being "happy with your money."
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