7. Master Finances - Deepstash
7. Master Finances

7. Master Finances

  • Save 10%-20% of your income and invest wisely.
  • Avoid debt and focus on long-term financial goals.
  • Understand the value of delayed gratification when managing money.

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Similar ideas to 7. Master Finances

The 70:20:10 budgeting method

The 70:20:10 budgeting method

This method suggests that you allocate 70 percent of your income to expenses, 20 percent to savings, and the remaining 10 percent to debt.

70:20:10 may work for someone with a healthy emergency fund and minimal debt.

How long it will take you to save enough

How long it will take you to amass 25 times your income is based on the percentage of your income you save.

When you save 20 percent of your income, assuming a five percent average annual return, you'll hit 25 times your yearly income in just over 40 years.

20%: Savings

20%: Savings

Finally, try to allocate 20% of your net income to savings and investments. This includes adding money to an emergency fund in a bank savings account, making IRA contributions to a

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