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Mastering Personal Finance: The 20-30-50 Rule and Online Earning for Commerce Students | By Shivaji Hari


It's crucial to build solid personal finance abilities as you pursue your CA, CMA, or CS credentials. This post will discuss the 20-30-50 rule, a practical financial management principle. We'll also go over ways that you can work online while still completing your education.

Section 1: Understanding the 20-30-50 Rule

  • The 20-30-50 Rule: The Basics

To save, spend on wants, and pay for necessities, divide your money into three equal portions.

  1. 20% of your salary should be saved.
  2. 30% of your salary should be used for non-essentials.
  3. Pay your bills, rent, and other essential expenses with the remaining.

With a part-time work, let's say you earn 10,000 a month. According to the 50-20-30 rule, your income should be split into the following three groups:

  • Minimum 5,000 in necessary expenses (50%)

                 Pay for important expenses with half of your salary, or 5,000.

                 Rent, groceries, transport, and bills are a few examples of necessary expenses.

                 You must pay these bills each month in order to maintain your standard of living.

  • 2,000 saved (20%)

                 Save up two thousand Rupees, or 20% of your income.

                 For unforeseen expenses and crises, saving is crucial.

                 It's afuture needs and emergencies.

                 It's a good idea to build up an emergency fund or save for specific goals like             

              further education or a trip.

  • Discretionary Spending (30%): 3,000

              Use 30% of your income (₹3,000) for discretionary spending.

              Discretionary spending is for things that aren't essential but bring you joy or    


             This can include going out with friends, buying books or hobbies, or enjoying     

             entertainment activities.

  • Customizing the Rule for Students
  1. Adjust the percentages based on your financial needs and goals.
  2. Consider factors like student loans, educational expenses, and future plans.
  3. Use the rule as a starting point and modify it to fit your situation.

 Section 2: Online Earning Opportunities for Commerce Students

2.1 Online Freelancing Platforms

  • Websites like Upwork, Indigolearn (1FIN) , Freelancer, Guru and Fiverr offer a variety of opportunities for commerce students.
  • You can find accounting, data entry, content writing, and other freelance jobs on these platforms.
  • Create a profile, highlight your skills, and start bidding on projects that interest you.

2.2 Tutoring and Education Platforms

  • Join tutoring platforms like Chegg , Bartleby, Vedantu , or Teachable to offer your expertise in commerce subjects.
  • Help students with accounting, economics, finance, or other commerce-related topics.
  • Create and sell your own online courses to share your knowledge with a broader audience.

2.3 Entrepreneurial Ventures

  • Consider starting your own e-commerce business on platforms like Shopify or Etsy.

             Utilize your commerce skills to sell products online, whether it's handmade crafts,               

             clothing, or digital goods.

  • Explore local markets or set up your own website to reach customers.

**Before beginning work on any site, it is essential to check the rules, payment schedule, and reputation to confirm validity. Finding real earning prospects will be easier if you create a great profile, highlight your qualifications, and act professionally.



Commerce students have access to various online platforms that offer part-time earning opportunities. By following the 20-30-50 rule and exploring websites like Upwork, Freelancer, Fiverr, Chegg, IndigoLearn , Shopify, and Etsy, you can earn money while studying. Remember to manage your time effectively, maintain discipline in personal finance, and invest in your future for long-term financial success. With dedication and smart financial choices, you can achieve both acade

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Shivaji Hari
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