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Rules of thumb are basically loose that apply broadly to many different situations. We talk about rules of thumb a lot here on Dough Roller.When it comes to personal finance, the key word is There are no one size fits all rules for running your budget, savings, retirement planning, or other aspects of your financial life.With that said, some general, tried and tested rules can prove useful for planning your financial life. While you might decide custodia samsung galaxy grand neo to tweak these rules in application, they can be helpful for guiding your financial decision making.So without further ado, here are 31 financial rules of thumb that will help you rock your budget (and retirement savings, future financial planning, and more!).1. Pay yourself first. This is an old rule of thumb that helps you save, rather than spending all your money. Even if your budget is tight, as soon as you get paid, put some money into savings. Saving first, rather than last, means you much more likely to save money instead of spending it.2. Add your raise to your savings account. Once you achieved a salary that funds cover samsung s6 moschino a lifestyle you content with, don move significantly above that. When you get a raise, put it into savings rather than spending it. This can help avoid the problem of lifestyle inflation, cover samsung s8 rigida while growing your savings significantly.Related: Here a list of high yield savings accounts.3. When an appliance breaks, buy a new one if the custodia cover samsung s7 edge appliances is 8+ years custodia cover iphone 7 8 plus old or the repair would cost more than half the replacement cost. This goes for things like fridges, TVs, dishwashers, cover samsung j16 ebay etc. Get an estimate on the repair cost. If that cost is 50% or more of the replacement cost, you usually wiser custodia samsung gran neo plus to just replace the broken appliance. And for older appliances, you might cover samsung galaxi note 3 consider doing the same even if the repair costs are lower. Older appliances are more likely to have subsequent issues with other parts.4. Use 1 of an unexpected windfall for a treat, but bank the rest. Whether it a gift, an inheritance, or an unexpected bonus, use flip cover samsung ace 3 just a small percentage to treat yourself right away. Put the rest in the bank, and give yourself a few months to cover samsung s8 cartoon think about the wisest way to spend that unexpected money.5. Try the 50/30/20 rule for budgeting. If you new to budgeting, try allocating 50% of your take home pay towards necessities (food, shelter, utilities, clothing, etc.), 30% towards lifestyle choices (vacations, gym fees, hobbies, cell phone plans, etc.), and 20% towards financial goals and priorities (extra debt payments, savings, etc.). This isn a perfect budget, but it can be a good place to begin.6. Track at least your problem spending areas. Some people like a very detailed budget. Others, not so much. If you don want to track every line item, track at least those areas cover samsung a5 glitter where you tend to over spend, whether that dining out, buying new clothes, or spending on kids items. This can help you control your spending without being bogged down by an over detailed budget.Tool Tip: Personal Capital offers a free dashboard to track your spending and your investments.7. Spend about 10 of your budget on food. This includes groceries as well custodia samsung galaxy note 3 neo n7505 as dining out. If you struggle to keep your budget within this range, find places to cover samsung galaxy note 10 plus cut back.8. Allot 2 of your budget for personal items. This includes items like entertainment, getting your hair cut, and buying clothing, which would take up no more than about 8% of your monthly budget. This is a flexible area, though, and you can always cut back if you need to save more money.Savings and Investing9. Save three to six months expenses in an emergency fund. There are lots of different rules of thumb for this one, but this cover samsung s8 uomo one makes the most sense for the most people. Remember, this is expenses not income. And if you in a volatile field of work or the economy is in a downturn, consider saving eight or even 12 months worth of expenses.10. Use the rule of 72 to determine how long it will take your investment to double. To use this rule, divide 72 by the expected growth rate of your investments, expressed as a percentage. If you expect to earn 10% per year, for instance, it take you about 7.2 years to double your money. Learn more about this rule and how to use it here.11. Aim to have your portfolio double about every ten years. How do you know if your investments are on track and growing well One rule of thumb is that your portfolio, if well managed, should double about every ten years. Your mileage may vary, of course, but if you not even close to doubling after a decade, flip cover samsung a8 consider rebalancing your investments.12. Put no more than 30 of your net income towards minimum debt payments. This is the rule if you have a mortgage. If you don have a mortgage, then you should put no more than 30 of your net income towards both minimum debt payments and your monthly rent. This is a somewhat high figure, and it always better to have even less of your income devoted to debt. But the 30 range is what mortgage lenders, in particular, will look at when considering debt to income ratio.13. Pay off your highest interest debt first. You find lots of disagreement custodia cover samsung a3 about debt repayment methods, but this is the one that will save you the most and get your debt paid off most quickly. One time you might want to deviate: if you trying to boost your credit score quickly. In this case, first pay off any cover samsung k zoom amazon credit cards that are currently maxed out. Then, pay off debt from highest to lowest interest rate.Tool Tip: Use a 0% balance transfer card to reduce your interest payments. Here a list of some of the best current offers, including one that doesn charge a transfer fee.14. Save 10 of your income for retirement. The old rule of thumb was to save 10% of your gross income for retirement. That seems to be a little low these days, especially for younger workers who may not have a pension to fill in the gaps. Aim a little higher than that, especially later in your career, if you really want to be ready for retirement.15. Subtract your age from 100; the resulting number is the percentage of your portfolio you should invest in stocks. If you 50, for instance, you should invest about 50% of your overall portfolio in stocks. This is another rule of thumb that can vary greatly. If you more risk tolerant or planning to work and custodia antiurto samsung s8 invest longer, you could bump this rate up. If you less risk tolerant or want to retire early, you might consider a more conservative style.16. Always take the employer match on your retirement account. If your employer offers any match at all for retirement investments, save at least enough to get that match…

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