Greetings to my esteemed friends on the Cent platform and the entire Hive blockchain. It's another day and time to share with you my thoughts and the general principles of budgeting and finance accumulation and how to apply these rules to my Hive goals. It's your friend 
Many people around the world lack savings due to poor budgeting and this has affected their abilities to accumulate finance that'll be used in achieving other things that can better their lives. It's obvious that budgeting is key to financial freedom but many failed in this aspect because they feel their incomes are to small to enable save appropriately.
Budgeting to me is the bloodline of saving and finance accumulation that'll in turn raise capital for business and other areas of life. Encouraging oneself is key in changing our financial fortunes.
What is the 50/30/20 rules of Budgeting?
50/30/20 rule is types of percentage-based budgets. The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings.
Budget 50% for necessities
Your necessities are usually your living expenses and should account for 50% of your after-tax income. Necessities are things you need that aren't optional. They're different from your wants, which are things you'd like to have but don't need to survive.
To me, necessities are categorized into the three basic needs of man: food, shelter and clothing. Food here simply refers to affordable but balanced meals that can boost one's health. Shelter should also be affordable and calculated from your annual income. For me, 20% of your annual income should cater for shelter, while clothing shouldn't be expensive but affordable cheaper clothes. Apart from the three basic needs of man, healthcare, childcare and insurance should be included as necessities.
Budget 30% for wants
Your wants are things you'd like to have but aren't necessary for survival. They're different from things you're saving for, like a house or vacation (these are your long-term savings goals and are included in the "savings" section of your budget). Wants should account for 30% of your after-tax income.
This aspect of budgeting makes life cool and enjoyable but if not budgeted probably can ruin your life. They're wants and not needs, so one can partially do without them. Life is too short not to be enjoyed. They make you feel as part of the world. They're important but shouldn't be done all the time.
Budget 20% for savings
In the 50/30/20 rule, the remaining 20% of your after-tax income should go toward your savings, which is used for heftier long-term goals. You can save for things you want or need, and you might use more than one savings account.
There's this temptation of spending your savings on other things not budgeted for but with discipline one can resist the temptation. To me, savings should be channeled into ventures that'll produce more income such as real estate.
Applying the 50/30/20 rule of Budgeting to my Hive Goal
Just like the real world, the aforementioned budgeting style can be applied on the Hive blockchain to achieve some heights in finance accumulation that'll profit the entire Hive blockchain.
Apart from bringing in capital into the Hive blockchain, one can accumulate rewards and segment them into other productive and rewarding and investment aspects of the blockchain.
50% Hive Rewards for Necessities
It's important to use your Hive rewards from your content to take care of yourself and family. Sometimes these rewards are small but consistency can make you accumulate huge rewards that'll support your other sources of income.
30% Hive Rewards for Investment
30% of rewards on posts can be set aside for investment on Hive-engine tokens. Hive-engine tokens are very productive and can increase ones finances on the Hive blockchain, although you need to check the volatility level of such token before investing. If I may recommend, Leo and Cent tokens are most reliable. You can invest in liquidity pools or stake your tokens and become a curator for the platform.
20% for wants
For me, 20% of one's earnings on the Hive blockchain can go for wants.
Hope you got something out of my content. Drop your thoughts on the comment section.
Thank you.