A personal finance enthusiast has taken to TikTok to share his advice on how to budget an average UK salary of £30,000.
Brian, who goes by ‘frugal spender’ on TikTok, has amassed over 87,000 followers who eagerly consume his money advice clips.
In addition to budgeting, Brian’s other videos cover topics like ‘pay day must-do’s,’ ‘future investments,’ and ‘common money lies.’
In this particular video, the personal finance expert is seen walking through a park as he explains his budgeting approach for the average UK salary of £30,000.
He introduces the 50/20/30 rule, a method that provides clarity on financial priorities by allocating 50% to essentials, 20% to savings, and 30% to lifestyle expenses.
Brian, from Gloucestershire, has taken to TikTok to share his advice on how to budget an average UK salary of £30,000
According to Brian, the take-home pay after taxes and pensions is around £2,000. He emphasizes that his budgeting strategy revolves around the 50/30/20 rule:
‘50% of my take-home pay goes to needs, 30% to wants, and 20% to savings.’
To illustrate, he says, ‘For needs, £1,000 out of £2,000 will be allocated to expenses like mortgage, car, petrol, and food, everything necessary for survival.’
He also acknowledges that going over this budget means “living beyond my means.”
Next, Brian discusses allocating 30% of his monthly income (£600 in this case) to wants, which includes gym memberships, subscriptions, and entertainment.
With information flashing up on the screen, he says ‘Now as you can see here, the (monthly) take home pay after tax and pensions is just under £2,000, let’s call it £2,000’
Lastly, Brian advises allocating the final 20% (£400 in this case) towards short, medium, and long-term savings and investment goals.
While Brian’s video has garnered over 1.2 million views and sparked more than 2,500 comments, many viewers expressed skepticism about the feasibility of his advice.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
