FINANCE

10 Clever Personal Finance Rules that will help u save more. 1) Rule of 72 2) 100- Age Rule 3) 50-30-20 Rule 4) 1st Week Rule 5) 6X Emergency Fund 6) 20X Term insurance 7) 40% EMI Rule 8) 2X Savings Rule 9) 3*3*3 Plan 10) 25X Retirement Rule.   1. Rule of 72  Always wondering when your money will double ?  This Rule will Help ! Simply Divide 72 by your expected Rate of return. Ex - if a bond is Giving 10% returns,  Divide 72 by 10 = 7.2 Years Note - This rule provides close but not exact outcome.  2.100 - Age Rule Worried about asset allocation ? i.e. how much should you invest in Equity vs Fixed income ? -Simply Subtract your age from 100 and that is your allocation to equity Eg - If your age is 25, 100 - 25 = 75 Thus 75% of your investments should be in equities 3. 50-30-20 Rule Struggling with budgeting ?  Divide your income like this : ➡️50% Spend on needs (bills, education, transport, food etc) ➡️30% on wants (Holidays, Movies, restaurants etc) ➡️20% S...

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