The 50/30/20 rule is a popular and easy budgeting tool that splits your monthly income into three groups:
50% for essentials: Rent, electricity, food, fuel, etc…
30% for needs: Clothing, restaurants, subscriptions, etc…
20% for savings
The rule is straightforward in practice.
However, with an inflation rate of approximately 8.1% in Cyprus from January-September 2022, the amounts spent on both essentials & needs have increased, while the monthly income has mainly remained the same, and the amount used for savings has decreased.
So how sKash payment tool has helped its users?
Users who adopted the sKash app & card to pay for their essentials or needs have been paying up to 10% less on their daily, weekly & monthly transactions. Hence, they were able to cope with the inflation rate & able to proceed with their budgeting rule without decreasing the percentage of their savings.

How does it work?
Any household has fixed costs such as Rent (if any), utility bills, groceries, fuel, insurance payments, etc.
Now sKashers who shop their grocery from our network of merchants & pay with sKash QR, and pay their utility bill from their sKash app, or pay with their VISA card to cover their fixed costs get instantly rewarded with cashback vouchers that they can use at the respective merchants – covering petrol stations, supermarkets, pharmacies and more than 1500+ points of sales in Cyprus.
Now we come to the leisure costs, such as enjoying an aromatic cup of coffee at your favourite coffee shop, indulging in a feast at your favourite restaurant, or buying a new pair of sneakers.
sKashers who pay for their leisure costs with their QR at our network of merchants or with their sKash VISA card anywhere else also get instantly rewarded with cashback vouchers that they can use at the respective merchants – covering petrol stations, supermarkets, pharmacies, and more than 1500+ points of sales in Cyprus.
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