The MOST helpful money rules 💸 (cheat sheet 🤑)

THE RULE OF 30%

You should never utilize more than 30% of a credit line

EX:A credit card with a $10k limit shouldn't have more than $3k on it

💵💲

THE RULE OF 115

115 divided by your rate of return is the number of years for your investment to triple

EX: An investment with an 8% return will triple in 115 / 8 = ~ 14 years

💵💲

THE RULE OF 70% You should aim to replace 70% of your income to maintain your standard of living in retirement

EX: $5k per month in income when working = $3.5k

per month in retirement

💵💲

THE RULE OF 5%

No single asset should make up more than 5% of your portfolio

EX: $100k invested, <$5k in a single stock

💵💲

THE RULE OF 15%

A minimum of 15% of income should be saved for retirement

EX: If $10k is earned, $1500 should be for retirement

💵💲

THE RULE OF 24

For large purchases, spend at least 24 hours thinking about whether you actually want it

EX: Instead of impulse purchasing items you want, wait a min. of 1-day

💸₊˚⊹💲 ♡

#moneysavingtips #moneyhacks #MoneyTips #moneymindset #moneycheatsheet #finance #financialtips #financialfreedom #financebaddie #lemon8challenge