Money management is important to build wealth. Without a good formula, you will hardly have a stable investment and saving since there is no ‘rule”. I read in an article that a traditional budget with detailed planning will not work well, as the writer has experienced. According to him, using a Balanced Money Formula is a good alternative. The formula is based on net income, which then you should split between portion for “needs” and “savings”. There are some guides for the reasonable percentage, however. I find the formula to be really useful. It isn’t a strict way of spending money, it’s a way of spending money wisely and rationally. The percentage in “need”, for example, already includes those you need for fancy wants. So you work and play, while keep good management for future wealth. Find the formula here.