A few minutes on money

The 50/30/20 rule is a simple way to shape a month. Half of what comes in goes to needs, such as rent, groceries and bills. Thirty per cent goes to wants, such as eating out and hobbies. The last twenty goes to savings, or to paying off what you owe.

Start with what you must pay every month, then see what is left for the rest. If needs take more than half, look at the biggest ones first. Housing and transport usually move the most.

In Piggy the split is already there in your groups. Essentials are your needs, Everyday is your wants, and Saving for and Owing hold the last part. Give each bag its share, and each group's total tells you how close you are.

A rainy day fund is money kept for the unexpected: a medical bill, a car repair, a month without income.

A good first target is one month of essentials. Then build towards three to six months over time.

Make a bag for it under Saving for, call it Rainy day, and give it a little every month. Leave it alone unless something really goes wrong.

The snowball pays off the smallest debt first, for a quick win, then moves that payment on to the next smallest.

The avalanche pays off the highest interest first, which costs the least in the end.

Both work, and the best one is the one you keep doing. In Piggy, start a bag owing for each debt: say how much you owe, and watch it climb back to zero as you pay.

Investing puts money to work so it can grow faster than prices rise.

Compound growth rewards time in the market more than timing it. Starting small and early usually beats waiting for a better moment.

Piggy does not invest for you. What it can do is build the habit: a bag under Saving for that gets its share every month, so the money is there when you are ready.

Most people think they spend far less on the small things than they do, until they start writing it down.

Keep bags broad enough to pick quickly, and specific enough to be useful. Food and Transport beat one bag called Other.

Once a month, open Stats to see where the money went, then give each bag a little more or a little less when you plan the next month.

A household budget only works if everyone can see it and understands it. Keep the bags few, and name them the way everyone talks.

Save for something together, like a family trip, with a clear amount and a date. Watching the bag fill keeps everyone going.

Look at the month together once, at the end, rather than checking every spend as it happens.