How to Manage Your Money With A Quick Guide

How to manage your money – The most important aspect of adulting in life is knowing how to manage your money. And though you might think you know how to spend your money, there’s a good chance that you still don’t know how to actually manage it in a beneficial way. Even adults are still having problems with this exact issue.

So, to help you out with that here is a guide on how to manage your money that you can already use as a reference as soon as you’re 21, or 18 even.

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Avoid instant gratification

The whole trend with media these days is instant gratification. Starting from your cryptocurrencies, YouTube videos, mobile games, PC games, and others. Most things in your life right now are aimed to get a quick money out of your wallet in exchange for gratification.

A gratification that’s at the end of the day meaningless if you really think about it. Take mobile games for example. There will be a lot of tempting offers that the game made to you that can help you get above the rest and ease your grind a little bit.

This would be a good deal to take if your career is entirely based on said game, but seeing as it’s probably not, it turns into a horrible decision instead.


Yes, they might make you happy for a little while, but this happiness is only temporary. It will ebb away a couple of days or even minutes later. This applies to other forms of social media as well, as we’ve already implied before.

So, when you’re spending a lot of your time consuming these sorts of media, just think twice before you decide to spend your money on something. Really think carefully whether you’ll be happy for a long time with that thing, and if you don’t, then don’t bother with it.

How to Manage Your Money | Save something, no matter how little

The next thing to talk about on how to manage your money is perhaps the most important thing you could’ve learned as an adult: Always save something.

This applies to a lot of things in life, but money is the most prominent one out of the bunch. In general, it’s just a really good idea to have some sort saved money in your bank account or wallet or anywhere.

Why? Well, life is not always sunshine and rainbows. One way or another, we will end up at the bottom of the wheel. It could be from a medical emergency, college funds, car repair damage, or any other things in life that could totally blindside you.

Having a saving could literally be life-saving when you’re put in these situations as they’ll undoubtedly put a lot of stress onto you, and having money that you can use for it definitely alleviates a little of that stress away.

Do the 50/20/30 plan

Speaking of saving, let’s talk deeper into that with this 50/20/30 rule. This one is a fairly common rule that people use when they talk about how to manage your money.

Now, what do these numbers mean?

Well, it’s simple. They’re all percentages. So it basically means 50% for the essentials; the things that you can’t live without, 20% for savings as we mentioned above, and 30% for the other things in life that you’d like to spend your money on.

Spending 50% of your money on the essentials should be self-explanatory, but just to reiterate, having a set amount of money shelved away for the essentials is a very healthy habit to have and it will save you a lot of potential trouble down the line.

20% meanwhile is what you’re going to be saving into your bank accounts in case of emergencies the likes of the one we talked about earlier. This is a small number, yes, but it’s much better to have some sort of money saved rather than none at all.

And the last one is 30% for anything that you desire. It could be entertainment, clothing, restaurants, anything that you want to spend your money on. Following this plan gives you a lot of freedom into what you could spend your money on while also maintaining a solid structure of your financial wellbeing.

So if you’re having any problem managing your money, try the 50/20/30 plan. You can even modify it if you wanted. Just make sure to not have the last number higher than the first number. Trust us, it’d land you in a bad place.


Is the 50/20/30 too complicated? Try the 80/20

We’ve just rambled on about the 50/20/30 plan as one of the ways on how to manage your money, but if you feel like this method is too complicated or put too much stress on you, you can try the 80/20 instead.

This also goes into our earlier method that is saving your money however little, but just a little bit more structured. The 80/20 rule acts the same way as the 50/20/30 rule we talked about earlier. But instead of dividing your attention to all of these things, you only have to decide on two things.

Everything else vs. saving. Your everything else takes the 80% spot, and the saving takes the rest of 20%. It’s a simple way of visualizing your money and will certainly help you on how to manage your money.

It’s a little bit looser compared to the 50/20/30 plan, but hey, people work differently from one another. If the former is too much for you to keep track of, you can resort to this 80/20 plan instead.

How to Manage Your Money | Conclusion

Anyway, those are all we can say for this article on how to manage your money. As you can see, there are a lot of ways that you can follow regarding how to manage your money, and this article of ours has barely even scratched its surface.

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That being said though, the ones that we talked of above are some of the most efficient ones you can use to manage your money, no matter where you are in life. These methods can help you whether you’re a teenager or an adult. So, don’t be afraid to try them and follow them.

How to manage your money – Ahem, that’s all from us for now for this article on how to manage your money, we hope you find this guide on how to manage your money useful, and we’ll see you all later. See ya!

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