Question

What percentage of your salary should go to savings? A. 5% B. 10% C. 20 D. 50%

Answer 1

Answer:

D

Explanation:

Answer 2

20% of your salary should go to savings.

Option - C

Explanation:

At least 20% of your money should be spent on investments. More is all right; less is not recommended. Meanwhile, another 50 percent (maximum) is expected to go to needs, while 30 percent goes to budgetary items.

This is termed the 50/30/20 thumb rule, which offers quick and easy guidance. To take a quick look to find out how much you need to save each month, consider looking at your objectives. Broadly speaking, the economic goals will be broken down into three buckets:

• Expenditures come in less than a year.

• Expenditures to come in less than a decade.

• Quite long-term costs that are a century or more out.