How to become rich with 9-5 job ๐Ÿ’ฐ

This is the easiest way of financial planning specially for beginners
(And for all!)

This is how you'll become rich with 9-5
(Hint : Only If you follow 50-30-20 rule)

Wait....What? What's 50:30:20 rule?

Don't worry. Just readโ€ผ๏ธ๐Ÿ‘‡

1/ Budgeting - The 1st ๐Ÿƒ to financial freedom โ€ผ๏ธ

If you earn, you need to budget your money.

A budget is telling your money where to go instead of wondering where it went.

Budgeting your money is an investment in your future.
2/ Start budgeting your money. Have a plan about how to use the money you'll receive.

Don't think that your salary is less and you can't save. You can. You just have to find a way out.

The sooner you start Investing, the sonner you'll be a millionaire.
3/ So, the million dollar question - What's 50:30:20?

If you have just started your career, the 50:30:20 formula is the best one and the simplest to follow. ( Btw not only for starters, anyone can do it ๐Ÿ’ฏ)
4/ This is how you must allocate your money and make a budget ๐Ÿ‘‡

50% - Needs (Rent/EMI, Food, bills, etc)

30% - Wants (Car, A trip, Electronics, etc)

20% - Save (Retirement, education, etc)
Invest ( Stocks, Real estate, gold)
5/ Let say : You earn $1000 a month

Allocate -
50% on Needs - $500
30% on Wants - $300
20% on Saving & Investing - $200

(Wants are also necessary. Everyone needs a trip. Enjoy your life, but also Investโ€ผ๏ธ)
6/ The Bonus -

Now that you've understood how to budget your money. Let's understand how to increase your saving/Investing.

Specially for the people who are in their 20's/30's.

When you gain experience in your job, you'll also get increments (Salary hikes)
7/ But, What most people do is : when they get an increment, they increase their proportion of expenses in wants.

Don't do this โŒ

Instead, reverse the 50:30:20 Rule (For incremental amount)
8/ Let say : Now, You earn $1200 a month (After increment)

Incremental amount ($200) -
50% Invest - $100
30% Wants - $60
20% Needs - $40

Now, your total allocation will be -
Needs - $500 + $40 = $540
Wants - $300 + $60 = $360
Investment - $200 + $100 = $300
9/ You saw what I did here?

1๏ธโƒฃ You started with 50:30:20 Rule

2๏ธโƒฃ You gain experience, get increment

3๏ธโƒฃ You reverse 50:30:20 Rule on incremental amount
10/ Here's how the calculations work -

For $1000 - For $200 - (Hike)
50% - Needs 50% - Investing
30% - Wants 30% - Wants
20% - Investing 20% - Needs
11/ This method will only work in the long run.

โœ… Start early
โœ… Make a budget
โœ… Keep on Investing for long term
โœ… You'll find you've created a huge corpus (Capital)
โœ… Then, retire early & enjoy your life ๐Ÿค—
So that was "How to get rich with 9-5!
I hope you found it useful.

For more educational threads on money, finance, and economics, do follow the page @MoneyWell_

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๐™Ž๐™๐™–๐™ง๐™ž๐™ฃ๐™œ ๐™ข๐™ฎ ๐™ฌ๐™ž๐™จ๐™™๐™ค๐™ข ๐‘พ๐’๐’'๐’• ๐’ƒ๐’† ๐’”๐’–๐’“๐’‘๐’“๐’Š๐’”๐’†๐’… ๐’Š๐’‡ ๐’•๐’๐’Ž๐’๐’“๐’“๐’๐’˜ ๐’– ๐’“๐’†๐’‚๐’… ๐’•๐’‰๐’† ๐’”๐’‚๐’Ž๐’† ๐’”๐’•๐’–๐’‡๐’‡ ๐’Š๐’ 50๐’Œ ๐’˜๐’๐’“๐’Œ๐’”๐’‰๐’๐’‘ ๐’๐’“ ๐’”๐’๐’Ž๐’†๐’๐’๐’† ๐’Ž๐’‚๐’๐’‚๐’ˆ๐’Š๐’๐’ˆ ๐’š๐’๐’–๐’“ ๐’Ž๐’๐’๐’†๐’š ๐’˜๐’Š๐’•๐’‰ ๐’”๐’‚๐’Ž๐’† ๐’๐’๐’ˆ๐’Š๐’„
Simple and effective way 2 make Money


Idea 1:- Use pivot level like 14800 in case of nifty and sell 14800straddle monthly expiry (365+335) exit if nifty closes on daily basis below S1 or above R1

After closing below S1 if it closes above S1 next day or any day enter the same position again vice versa for R1

Idea2:- Use R1 and S1 corresponding strikes multiple
Incase of R1 15337 take 15300ce
N in case of S1 14221 use 14200pe
Sell both and hold till expiry or exit if nifty closes below S1 or above R1 around closing
If the same bounces above S1 and falls below R1 re-enfer same strikes

Use same criteria for nifty, usdinr and banknifty

(This is must)Use this margin rule for 1lot banknifty pair keep 4Lax margin
For nifty one lot keep 3Lax
For usdinr 100lots keep 4Lax

I bet you if you do this on consistent basis your ROI will be more than 70% on yearly basis.

Couldn't explain easier than this

Criticisms are most welcomed.
And here they are...

THE WINNERS OF THE 24 HOUR STARTUP CHALLENGE

Remember, this money is just fun. If you launched a product (or even attempted a launch) - you did something worth MUCH more than $1,000.

#24hrstartup

The winners ๐Ÿ‘‡

#10

Lattes For Change - Skip a latte and save a life.

https://t.co/M75RAirZzs

@frantzfries built a platform where you can see how skipping your morning latte could do for the world.

A great product for a great cause.

Congrats Chris on winning $250!


#9

Instaland - Create amazing landing pages for your followers.

https://t.co/5KkveJTAsy

A team project! @bpmct and @BaileyPumfleet built a tool for social media influencers to create simple "swipe up" landing pages for followers.

Really impressive for 24 hours. Congrats!


#8

SayHenlo - Chat without distractions

https://t.co/og0B7gmkW6

Built by @DaltonEdwards, it's a platform for combatting conversation overload. This product was also coded exclusively from an iPad ๐Ÿ˜ฒ

Dalton is a beast. I'm so excited he placed in the top 10.


#7

CoderStory - Learn to code from developers across the globe!

https://t.co/86Ay6nF4AY

Built by @jesswallaceuk, the project is focused on highlighting the experience of developers and people learning to code.

I wish this existed when I learned to code! Congrats on $250!!