Rules
Crucial Guidelines for Personal Finance
Personal finance is all about managing your money effectively to achieve financial freedom. It involves making informed decisions about budgeting, debt management, saving, and investing.
By following these essential rules of personal finance, you can improve your financial skills, reduce stress, and make better financial decisions.
Essential Rules of Personal Finance
Avoid overspending by creating a budget that accounts for all your income and expenses. This will help you avoid debt and make timely payments.
This rule helps you estimate the time it takes for an investment to double in value. Divide 72 by the expected rate of return, and you’ll get the number of years it’ll take to double your investment.
While a 20% down payment is ideal, it’s not always necessary. Consider your budget and explore loan options that require a smaller down payment.