What are the 3 rules of money?

Where should my money go?

At least 20% of your income should be spent on savings. Meanwhile, another 50% (maximum) should go to needs, and 30% to discretionary subjects. This is called the practical 50/30/20 rule and provides a quick and easy way to schedule your money.

Where is the safest place to store money? You want security and maximum interest on funds that you access regularly. Online savings accounts are among the safest savings vehicles, with federal insurance covering up to $ 250,000 in deposits per holder, be it through a bank or credit union. See the article : Why do people want to be rich?. (A joint account with two holders is insured up to $ 500,000.)

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What are the tips to save money?

8 easy ways to save money See the article : What do you call a female millionaire?.

  • Save your expenses. The first step to starting saving is figuring out how much you are spending. …
  • Include savings in your budget. …
  • Find ways to reduce your expenses. …
  • Set savings goals. …
  • Define your financial priorities. …
  • Choose the right tools. …
  • Make saving automatic. …
  • Watch your savings grow.

What’s the 30 day rule? Thanks to the 30-day savings rule, you postpone all irrelevant purchases and impulse purchases by 30 days. Instead of spending money on something you may not need, you’ll think about it for 30 days. At the end of this 30-day period, if you still want to make that purchase, you can do so.

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