When it comes to saving money, what is a good rule of thumb?

2 answers:

6 0

-Not to make impulse buys
-Open a savings account that directly adds a set amount of money into it from your paycheck monthly
-The '50-30-20' rule(<span>50 percent of your income toward necessities, like housing and bills. Twenty percent should then go toward financial goals, like paying off debt or </span>saving<span> for retirement. Finally, thirty percent of your income can be allocated to wants, like dining or entertainment.)</span>
-Create a budget

Citrus2011 [14]3 years ago

5 0

Your income should be greater than you're spending. So basically, don't spend more than you have. :)

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