50/20/20/10 Rule

How to use your income

Chris Soschner
3 min readMar 31, 2020

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Are you always broke? Wondering what luck other people had to be financially independent?

I was never a believer in luck, will of God, or a written faith. My mindset is that every person on this planet is the master of their faith. When it comes to money, it is the same. Yes, of course, some might be born rich, have inherited some money. And in the end, they have to live by the same habits as everybody else — or they lose their fortune quickly.

So what is this golden rule? The number one habit every person must develop in today’s society? It is no magic, no trick, it just needs the discipline to accomplish. It is also not important how much wealth or debt you already have. It can be applied at any time — step by step, it will lead to financial independence when the person is disciplined and follows the rule.

I call it the 50/20/20/10 Rule. I am always thriving to learn new things, especially in the areas of health and business. When I was a young man, I wanted to get a university degree. In those days, it was flagged as the number 1 necessity to earn a high income and the only place that gave access to an abundance of knowledge — back in the 80s/90s of the last century — pre-internet era. As I had to finance everything myself, I had to create habits and a tight budget. Those established rules serve…

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Chris Soschner

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