The 50/30/20 rule is right for everyone, regardless of your income level. Even if you are just starting your career, you should start saving some portion of your after-tax income. Financial discipline and prudence with your income should start as early as possible. The earlier you start saving, the better your financial future will be. Through the power of compounding, regular savings can help you build your net worth and asset base. This is the path to wealth maximization in the long run. Avoid taking on unnecessary debt to buy expensive products that you may not need. This leads to the so-called zero-cost EMIs or loans with zero processing fees, which are not actually costless. For the temporary enjoyment of some wants, you are taking on the onerous responsibility of debt. Ideally, you can even allocate your post-tax income based on the following ratio: 50, 20, and 30. This means you increase your savings component by reducing the wants component. Such an allocation will help make your retirement years financially secure and your life independent.