Manage Your Money Like The Top 1% (The 60/20/20 Rule)

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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment/educational purposes only and should not be construed as financial or legal advice. You, and only you, are responsible for your investment decisions. This video, post & article should not be construed as investment advice. Capital at risk.
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In today's video, we’re diving into the 60-20-20 Budget Rule-a modern approach to managing your finances that can help you grow your net worth faster, especially in times of inflation.
What You’ll Learn:
The Breakdown of the 60-20-20 Rule: We’ll explain how to allocate your income with 60% for needs, 20% for savings and investments, and 20% for wants. This new rule adapts to rising living costs and inflation.
Why It Works: Discover why the 60-20-20 Rule is more effective in today’s economic climate compared to the traditional 50-30-20 rule. Learn how it helps you balance your spending, saving, and investing to accelerate your financial growth.
Benefits of the 60-20-20 Rule: From inflation-proofing your budget to promoting financial discipline and ensuring a balanced lifestyle, we’ll cover all the advantages that come with adopting this rule.
Real-Life Examples and Success Stories: See how real people have transformed their financial lives using the 60-20-20 budget strategy.
Why You Should Watch:
If you’re looking for a way to manage your money more effectively, build wealth faster, and adapt to changing economic conditions, this video is for you. We’ll provide actionable steps and tips to help you implement the 60-20-20 rule in your own life, ensuring you’re on the path to financial freedom.

[@SmartMoneywithKai]

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[@rino6497]

To buy Tesla through interactive brokers from the EU.
Which ticker do you recommend?
I don't want any margins, just simple stock hold.
Thank you in advance ❤

[@SmartMoneywithKai]

Hi. Interesting, just had a look and could only find it in the US & UK, not in Germany, though on Trading 212 you can buy Tesla in EUR in Germany 🤔

[@rino6497]

@@SmartMoneywithKai
I found one on the Interactive brokers app for desktop, with the ticker TLO.
It doesn't appear on my phone or desktop app.
What does that mean?

[@rino6497]

@@SmartMoneywithKai I found it.
It is TL0 not TLO

[@SmartMoneywithKai]

Great 👌

[@olafur2109]

Great stuff! Keep up the good work, very helpful and educational🙏

[@SmartMoneywithKai]

Thanks a lot 🙌 Very happy to hear that mate and will do 💯

[@xarislef7457]

Please HELP!! I invest in IB and see 2 VUAA one in Milan and one in London. Theoretically they should be exactly the same but I notice that the lifetime, i.e. All time returns have huge differences.
For example, the VUAA of London, which has USD, has a lifetime return of 103.16%, while Milan's that has in EUR , lifetime return is only 82.99%.
What can happen and which one should I finally choose to be okay?

[@SmartMoneywithKai]

Hi, most likely due to the currency impact. The London VUAA is denominated in USD, while Milan's is in EUR. Exchange rates impact the returns you see 👌 I invest in USD in London as I believe long-term it will outperform the EUR. Cheers

[@xarislef7457]

@@SmartMoneywithKai Because i am confused, irs better to invest in USD? My main currency is EUR by the way

[@SmartMoneywithKai]

Really depends on you, no right or wrong. I prefer USD 😉

[@cmazas]

Great 🎉🎉 thanks I am using your tracker and help me a lot to track my expenses

[@SmartMoneywithKai]

Fantastic to hear that and well done for using it and making it a part of your financial habits 👏

[@kyoshikozan1712]

In my humble opinion, allocating 60% of your earnings to living expenses is way too much. If I found myself in that situation I would be looking to increase my salary or moving away to a smaller city for cheaper rent.

[@SmartMoneywithKai]

Hi and fair point it is a lot indeed but for many a reality and they often mange to save even less than 10%. But great you are doing much better. May I ask what kind of percentages you are looking at in your own finances? Cheers

[@kyoshikozan1712]

I usually try to bring down cost of living to 40 (sometimes it's not possible) and keep "wants" at 20, it varies every month but I am very frugal in my lifestyle!

[@SmartMoneywithKai]

👏👏👏

[@TheXkofix]

45/15/40 and still think that I am doing something wrong 😂

[@SmartMoneywithKai]

I applaud you. Spending almost the same on your investments as you do on your needs is a great achievement 👌👏

[@BobDoe_69]

40/10/50

[@SmartMoneywithKai]

Wow, that’s incredible. Investing 50% of your income, hats off to you 👏👏👏

[@BobDoe_69]

@@SmartMoneywithKai yes need to make up lost time..sigh