Retirement planning: Want to save a hefty corpus for retirement? Start with 30-30-30-10 to save more – Retirement planning: Follow the 30-30-30-10 rule

Let me show you how it works with a practical example. For instance, your monthly income is Rs 50,000.

Here is how your earnings will be split across your budget according to the 30-30-30-10 rule.
i) The first Rs 15,000 will be spent on housing costs such as rent or home loan EMI.

ii) Next Rs 15,000 will be used for essential expenses such as groceries, paying multiple utility bills, transportation costs, etc.
iii) You have to allocate Rs 15,000 to meet your short-term and long-term goals.
iv) The remaining Rs 5,000 will be used for your wants or discretionary costs such as dining out or watching movies.