123: Financial Rules of Thumb

In this episode, we're diving deep into the world of financial 'rules of thumb.' 

These are simple guidelines that can serve as your compass in navigating your journey towards financial independence. 

Whether you're grappling with how much to save from your income, how to manage your debt, or wondering about the right insurance coverage, we've got you covered! 

These insights will be straightforward, practical, and easy to understand, no matter where in the world you're working or living. 

Disclaimer: Remember that everyone's situation is unique. These rules of thumb are not one-size-fits-all answers, but they can provide a good starting point. 

What You'll Learn:

Discussion on various categories of financial rules of thumb: 

• Cash Management: 
  • The 50/30/20 Rule
  • Pay Yourself First
  • Emergency Fund
  • Spend Less Than You Earn
• Debt Management: 
  • The Debt-to-Income Ratio (Rule of 36)
  • The Snowball Method
  • Lending Rule
• Risk Management/Insurance: 
  • Insurance Coverage Rule
  • DIME Method for Life Insurance
• Investments: 
  • The Rule of 72
  • Asset Allocation by Age (Rule of 100)
  • Diversification
  • Invest for the Long Term
  • Start Early
  • The 1% max service fee Rule
• Big Ticket Items: 
  • Car Buying Rule
  • Home Buying Rule
  • Saving for Vacations or Anniversary Celebrations
  • Saving for College Education
  • Saving for Retirement

📺 Watch it on YouTube: https://youtu.be/UBTHPla3UhQ

👋🏽Download the Intentional Spending Plan here!

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