You have made quite good points and helpful tips, your last statement says it all; one can have sufficient income and financial knowledge but without discipline to plan and follow it through, it’ll all be a waste.

It’s good budgeting your income but the assigning of percentage might not be for everyone, it’s not everyone who’s able to survive on 50% of their income and with the current economic situation in the country sometimes you might even find it hard to survive on the full income. It’s only those with more than one source of income or large income earners that can freely and successfully plan with this 50/30/20 percentage. Hence before one can think of investment first work hard to increase your sources of income, that way you have more fluidity in your planning and financial services.

That is not to say low income earners can’t invest, but they can only afford to invest as much as they can afford to lose at the time, their emergency funds also is less, their major aim is to survive first before investment.