How To Manage Your Money Like The 1% | 75/10/15 Rule of Money Management

How To Manage Your Money Like The 1% | 75/10/15 Rule of Money Management
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Managing your money like the top 1% might sound complicated, but it doesn't have to be. In this video, we explain the 75/10/15 rule of money management, a straightforward and effective strategy that can help you take control of your finances. The rule breaks down your income into three main categories: 75% for needs, 15% for savings and investments, and 10% for stress-free spending.

First, we dive into the 75% allocated to needs. This portion of your income should cover essential expenses such as rent or mortgage payments, EMIs, groceries, child fees, transportation, healthcare, and other utilities. By keeping track of these necessary costs, you can ensure that your basic needs are met without overspending. Budgeting for these essentials helps you maintain a stable financial foundation, which is crucial for long-term financial health.

Next, we explore the importance of saving and investing 15% of your income. Within this category, it's wise to set aside 3-5% as an emergency fund. This fund acts as a financial safety net, protecting you from unexpected expenses like medical emergencies or urgent home repairs. The remaining portion of this 15% should be invested in reliable options such as index funds, which offer a balanced and diversified approach to growing your wealth over time. Smart investing can help you build a secure financial future and achieve your long-term goals.

Lastly, the 10% allocated to stress-free spending allows you to enjoy life without feeling guilty about your expenses. This part of your budget can be used for activities that bring you joy and relaxation, such as traveling, dining out, or pursuing hobbies. By setting aside money specifically for leisure, you can indulge in your interests without compromising your financial stability. This balance between saving and spending is key to maintaining a healthy and happy lifestyle.

By following the 75/10/15 rule, you can create a well-rounded financial plan that covers your needs, prepares you for the future, and lets you enjoy the present. Implementing this strategy can help you manage your money more effectively, reduce financial stress, and ultimately live like the top 1%. So, take control of your finances today and start applying the 75/10/15 rule to achieve financial freedom and peace of mind.

DISCLAIMER: This video is only for educational and knowledge purposes. We do not provide any advice/tips on Investment or recommend buying and selling any stock or mutual fund schemes.
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Video Chapters Summary

00:00 - Intro
01:40 - 75%
03:43 - 15%
07:08 - 10%
09:28 - how to use this rule
10:51 - Outro
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#moneymanagement
#75/15/10 rule
#investing
#financialeducation
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[businessmindset]

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[LincolnFelix-sz]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[RakeshKumar-erte]

Hi aapka video bahut hi achha laga
Actually main ek certified financial consultant hun
Mai aapke bataye hue formule 75-15-10 ka palan last 16 years se kar raha hun
Aur costumers ko bhi advice karta hun
Apke duara di information ke liye apko bahut bahut DHANYABAD


RAKESH KUMAR IIOE CERTIFIED
INSURANCE AND MUTUAL FUND CONSULTANT

[spparlour]

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[PkMoneyMagic-youtube]

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[magharpal]

Sar ek dukandar kaise pata kare ki uski income kya hai aur kharche kya hai chhote dukandar

[abdulkhanmirzapurpakadi]

Apka koi wtsp group h jisme finance mindset wale log ho

[kumudJoshi.]

Jinko salary 10000 se kam ho kya vah log is formula ko use kar sakte h kya

[kemloird]

Pauch gutka or daru chokri me 50% Paisa bhag jata h sir..or ise chora v nahi jata.

[GoluKumarRaj.]

Hello sar Mani management mujhe sikhana hai😂😂

[ShoppingTravelandMore]

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