The 70-20-10 rule is a framework for directing your income to spending, saving, and debt repayment. These guidelines suggest earmarking 70% of your after-tax income for essential and nonessential expenses, including debt payments, 20% for savings and investments, and 10% for additional debt payments or donations. How to Apply the 70-20-10 Rule The framework for the 70-20-10 rule is broken down as follows: Allocating 70% for Expenses The 70-20-10 rule places your cost of l

Personal finance is the management of financial activities and decision-making. The areas include budgeting, saving, insurance,...