{"id":1117,"date":"2020-08-02T13:51:49","date_gmt":"2020-08-02T13:51:49","guid":{"rendered":"https:\/\/www.cashvisory.com\/blog\/?p=1117"},"modified":"2020-08-02T14:56:17","modified_gmt":"2020-08-02T14:56:17","slug":"the-golden-rule-of-budgeting","status":"publish","type":"post","link":"https:\/\/www.cashvisory.com\/blog\/the-golden-rule-of-budgeting\/","title":{"rendered":"The golden rule of budgeting"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1117\" class=\"elementor elementor-1117\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eee3921 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eee3921\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-db56105\" data-id=\"db56105\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-80021b6 elementor-widget elementor-widget-text-editor\" data-id=\"80021b6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">When we refer to financial planning, investments pop-up in our heads immediately. Growing your wealth, meeting your goals, accumulating assets &#8211; all of these need investments. However, in order to meet these financial targets and goals, it is critical that you manage the most important asset which enables all the others: <\/span><b>your income<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8687dbb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8687dbb\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-720aeae\" data-id=\"720aeae\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e0ef802 elementor-widget elementor-widget-text-editor\" data-id=\"e0ef802\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The first step to managing your income is protecting it in the event of emergencies through adequate insurance plans. Once you have secured your income, the next step is to ensure that you manage it well enough to keep building up your investment capital steadily. This can be achieved through the simple process of budgeting.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-068b532 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"068b532\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7190fd2\" data-id=\"7190fd2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-622a822 elementor-widget elementor-widget-text-editor\" data-id=\"622a822\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The 50-30-20 rule of budgeting has become increasingly popular given the simplicity of the concept. It recommends splitting your salary into the following buckets:<\/span><\/p><ul><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">50% in needs (such as rent, groceries, insurance, etc)<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">30% in wants (for trips, outings, restaurants, etc)<\/span><\/li><li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">20% in savings (to save and invest towards goals)<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-06169c2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"06169c2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d71ac56\" data-id=\"d71ac56\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6887557 elementor-widget elementor-widget-text-editor\" data-id=\"6887557\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">While this rule provides a great starting point, managing and optimizing your finances often isn\u2019t as straightforward and calls for greater granularity in budgeting. To provide greater clarity, we break down the budgeting guidelines further into actionable chunks in this blog post.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4aa115c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4aa115c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-f38ec4f\" data-id=\"f38ec4f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c76172f elementor-widget elementor-widget-image\" data-id=\"c76172f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"561\" height=\"408\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png\" class=\"attachment-large size-large wp-image-1118\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png 561w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-300x218.png 300w\" sizes=\"(max-width: 561px) 100vw, 561px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-db722cc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"db722cc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-85c34e9\" data-id=\"85c34e9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7da7184 elementor-widget elementor-widget-heading\" data-id=\"7da7184\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The 40-20-20-20 rule<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7cf3d30 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7cf3d30\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cb0d639\" data-id=\"cb0d639\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ee7242b elementor-widget elementor-widget-text-editor\" data-id=\"ee7242b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Needs, wants and savings are broad categories that may hold different connotations for different people. To address this, we recommend the 40-20-20-20 rule to split your salary based on more tangible expenses.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6c9c529 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6c9c529\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fe1300f\" data-id=\"fe1300f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-748ad13 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"748ad13\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-bd97a10\" data-id=\"bd97a10\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-100e8f0 elementor-widget elementor-widget-text-editor\" data-id=\"100e8f0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\"><b>40% in loans, housing and insurance.<\/b><span style=\"font-weight: 400;\"> These are critical components of your finances, which form the foundation of a robust budgeting plan. To break things down further:<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-a964eb0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a964eb0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-0ff7351\" data-id=\"0ff7351\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad10321 elementor-widget elementor-widget-text-editor\" data-id=\"ad10321\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li style=\"list-style-type: none;\">\n<ul>\n \t<li style=\"font-weight: 400;\"><b>30-35%<\/b> <b>in loans and housing.<\/b><span style=\"font-weight: 400;\"> Loans help us achieve leverage and get to our goals faster. Housing, either rental or mortgage, puts a roof on our heads. Your spending on paying back your loans and housing shouldn\u2019t exceed 30-35% of your income ideally. We have lumped loans and housing together as housing would be part of loans, in the form or mortgage, for most people. For those who rent, the same guideline applies in terms of percentage. <\/span><i><span style=\"font-weight: 400;\">Learn more in our <\/span><\/i><a href=\"https:\/\/www.cashvisory.com\/blog\/loans-how-much-is-too-much\/\"><i><span style=\"font-weight: 400;\">blog post<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> on how much loan you should take.<\/span><\/i><\/li>\n<\/ul>\n<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e3aff68\" data-id=\"e3aff68\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4278fe1 elementor-widget elementor-widget-image\" data-id=\"4278fe1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"627\" height=\"411\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3.png\" class=\"attachment-large size-large wp-image-1120\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3.png 627w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image3-300x197.png 300w\" sizes=\"(max-width: 627px) 100vw, 627px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-c07a1cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c07a1cd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-322def3\" data-id=\"322def3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9ad656d elementor-widget elementor-widget-text-editor\" data-id=\"9ad656d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li style=\"list-style-type: none;\">\n<ul>\n \t<li style=\"font-weight: 400;\"><b>5-10%<\/b> <b>in insurance.<\/b><span style=\"font-weight: 400;\"> Insurance protects our savings from life\u2019s uncertainties. Your spending on insurance plans such as <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/life-coverage-the-most-important-financial-product-youll-ever-buy\/\"><span style=\"font-weight: 400;\">life<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/critical-illness-coverage-why-it-shouldnt-be-ignored\/\"><span style=\"font-weight: 400;\">critical illness<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/insuring-yourself-against-skyrocketing-healthcare-costs\/\"><span style=\"font-weight: 400;\">health<\/span><\/a><span style=\"font-weight: 400;\"> insurance should fall between 5% to 10%. Low insurance spending could indicate insufficient coverage as per your income levels. High insurance spending could indicate subscription to high cost plans &#8211; an indication to review your plans and explore lower cost <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/term-insurance-vs-life-insurance\/\"><span style=\"font-weight: 400;\">term based solutions<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-76e033d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"76e033d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a4ac06a\" data-id=\"a4ac06a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6bd7f9 elementor-widget elementor-widget-text-editor\" data-id=\"c6bd7f9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\"><b>20%<\/b> <b>in basic living expenses. <\/b><span style=\"font-weight: 400;\">These expenses comprise daily living expenses which are important for sustenance. This includes household expenses such as groceries, utilities and kids\u2019 expenses, as well as personal expenses such as clothes, transportation, mobile and internet.\u00a0<\/span><\/li><\/ul><ul><li style=\"font-weight: 400;\"><b>20% in leisure expenses<\/b><span style=\"font-weight: 400;\">. These include any expenses that are meant to help you unwind, explore hobbies and passions such as holidays, fine dining, painting class, etc. While not a necessity for your sustenance, these \u2018personal treats\u2019 are certainly important to ensure you can continue to stay motivated and work hard, and stay on track to achieve your dreams.\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5b88a89\" data-id=\"5b88a89\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7e1549a elementor-widget elementor-widget-image\" data-id=\"7e1549a\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"531\" height=\"336\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1.png\" class=\"attachment-large size-large wp-image-1121\" alt=\"\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1.png 531w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image1-300x190.png 300w\" sizes=\"(max-width: 531px) 100vw, 531px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-b02ddd7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b02ddd7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-93c32ca\" data-id=\"93c32ca\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fe1005b elementor-widget elementor-widget-text-editor\" data-id=\"fe1005b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li style=\"font-weight: 400;\"><b>20% to be saved, invested and put aside for goals. <\/b><span style=\"font-weight: 400;\">This is what determines how comfortably you will retire, how many properties you will own and how many goals you will achieve. If you are saving around 20% of your salary, it is considered healthy and puts you in a good place to enhance your life. If this number falls below 10%, it is considered critically low and warrants a scrutiny of your budget. Once you have saved these funds, make sure you invest it in the right places to beat inflation and ensure your finances are not eroded in the long term. <\/span><i><span style=\"font-weight: 400;\">Read more in our <\/span><\/i><a href=\"https:\/\/www.cashvisory.com\/blog\/how-to-protect-your-savings-from-the-impact-of-inflation\/\"><i><span style=\"font-weight: 400;\">blog post<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> on how keeping the funds stowed away in a bank account or fixed deposit might be detrimental to your financial health.<\/span><\/i><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eb305db elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eb305db\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a949e05\" data-id=\"a949e05\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce26751 elementor-widget elementor-widget-heading\" data-id=\"ce26751\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bottom Line<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f2d92f2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2d92f2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eca51da\" data-id=\"eca51da\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c4feedb elementor-widget elementor-widget-text-editor\" data-id=\"c4feedb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">We all know that saving and investing is important in order to achieve our life\u2019s dreams. Creating and following set strategies to execute your saving and investment plans is essential to keep your goals on track. The 40-20-20-20 rule is meant to provide you a baseline to kick-start this process.<\/span><\/p><p><span style=\"font-weight: 400;\">In the coming weeks, we will be creating targeted tools to assist you in your saving journey. Stay tuned!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>When we refer to financial planning, investments pop-up in our heads immediately. Growing your wealth, meeting your goals, accumulating assets &#8211; all of these need investments. However, in order to meet these financial targets and goals, it is critical that you manage the most important asset which enables all the others: your income.\u00a0 The first [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[],"class_list":["post-1117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-expenses"],"uagb_featured_image_src":{"full":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png",561,408,false],"thumbnail":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-150x150.png",150,150,true],"medium":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2-300x218.png",300,218,true],"medium_large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png",561,408,false],"large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png",561,408,false],"1536x1536":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png",561,408,false],"2048x2048":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2020\/08\/image2.png",561,408,false]},"uagb_author_info":{"display_name":"Admin","author_link":"https:\/\/www.cashvisory.com\/blog\/author\/admin\/"},"uagb_comment_info":11,"uagb_excerpt":"When we refer to financial planning, investments pop-up in our heads immediately. Growing your wealth, meeting your goals, accumulating assets &#8211; all of these need investments. However, in order to meet these financial targets and goals, it is critical that you manage the most important asset which enables all the others: your income.\u00a0 The first&hellip;","_links":{"self":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/comments?post=1117"}],"version-history":[{"count":5,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1117\/revisions"}],"predecessor-version":[{"id":1325,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1117\/revisions\/1325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media\/1118"}],"wp:attachment":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media?parent=1117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/categories?post=1117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/tags?post=1117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}