First of all, you need to
assess how much you require for your present lifestyle. Then, you need
to figure out how much you require for financial security. This
calculation will help you decide how much to save every month. At least
you should try to save 10% of your paycheck. Try to save 20% for your
better financial future.
Have you heard about 50/30/20
rule? THe rules suggests that you should separate your monthly budget
into three different parts in 5:3:2 ratio. 50% of the income must be
reserved for essential costs like-housing and food, 30% must be
considered for lifestyle costs like - parties, music, movies, etc. and
more or less 20% must be allocated toward “financial needs.” So,
your debt payments, retirement saving, and, of course, investments may
be included within this category.
Sub: #1 posted on Thu, 10/20/2016 - 14:22
Industry Expert
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Sub: #2 posted on Mon, 10/31/2016 - 02:41
(Posts: 467 | Credits: )