Hellow guys, Welcome to my website, and you are watching 7 CLEVER Finance Rules for everyone | Take Control of your Personal Finance. and this vIdeo is uploaded by Finance Boosan at 2023-12-15T07:25:39-08:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | 7 CLEVER Finance Rules for everyone | Take Control of your Personal Finance |
| Video Uploader | Video From Finance Boosan |
| Upload Date | This Video Uploaded At 15-12-2023 15:25:39 |
| Video Discription | Learn Basic Of Stock Market Investments at https://www.financeboosan.in Buy Term Insurance & Get Online Discount Up to 10%👇http://tinyurl.com/ycy8st2y Buy Health Insurance & Get up to 25% Discount 👇http://tinyurl.com/96cpjr7a ₹1 Cr health plan at ₹390/ month Follow the Finance Boosan channel on WhatsApp: https://whatsapp.com/channel/0029Va6xVGJ1iUxff71r8p23 3x Monthly Income Rule: Aim to save or invest at least three times your monthly income each year. For instance, if you earn 40K per month, you should have saved or invested 1.2L by year-end. This represents a 25% savings rate, which is slightly below the average savings rate in India (30.2%) but still substantial to start with. 5 Day Rule: Invest or save at least 25% of your income within five days of receiving your paycheck. This can be automated through SIPs (Systematic Investment Plans), RDs (Recurring Deposits), or SSYs (Sukanya Samriddhi Yojanas). For those with irregular income, the key is to invest within five days of receiving the majority of your income. “3” before “3” Rule: Prioritize having an emergency fund, term insurance, and health insurance before investing. An emergency fund should be equivalent to three times your monthly expenses and kept in highly liquid forms like a bank FD or savings account. 40% EMI Debt Repayment Rule: Your EMI (Equated Monthly Installment) or debt payments should not exceed 40% of your total income. If your EMIs are too high, the recommendation is to increase your income to keep the EMI within 40% of your income. 16 EMI Rule: To quickly pay off loans, aim to pay 16 EMIs per year instead of the usual 12. This can significantly reduce the total interest paid and the loan period. 25X Rule: Ensure your term insurance coverage is at least 25 times your annual expenses. This amount of coverage ensures sufficient funds for many years, accounting for inflation and lifestyle maintenance. Rule of 72: This rule helps estimate the time it takes for an investment to double at a given annual rate of return. For example, at a 12% return rate, it would take about 6 years to double the investment. ---- Join Learner's Community : https://www.youtube.com/channel/UCmfl6VteCu880D8Txl4vEag/join ---- Stock Market Courses : https://www.financeboosan.in ---- Whatsapp Channel : https://whatsapp.com/channel/0029Va6xVGJ1iUxff71r8p23 Instagram : https://www.instagram.com/finance.boosan/ Other useful links : https://beacons.ai/boosan _______________________________________________ #financeBoosan #usefulinformationBoosan Stock Market, Mutual Funds, Investments, Personal Finance, Make Money Online Learn Basic Of Stock Market Investments at https://www.financeboosan.in #healthinsurance #insurance #health #healthcare #financialplanning #covid #healthissues #medicalemergency #medicare #financialfreedom #money #medicalinsurance #insuranceclaimc #mediclaim #privatehealthinsurance #corporatehealthinsurance #onlinehealthinsurance #onlinehealthpolicy #Medicalcover #Savemedicalbill #Savemedicalexpenses #freetreatment #policybazaar #lifeinsurance #insurance #financialplanning #financialfreedom #lifeinsuranceagent #investment #money #life #protection #financialliteracy #insurancepolicy #covid #insurancequote #incomeprotection #terminsurance #wealth #financialservices #personalfinance #insurancelife #financialindependence #termInsurance #TermPlan #Termlifeinsurance #OnlineInsurance #BestTermInsurance #Besttermplan #OnlinelifeInsurance #Nocostterminsurance #zerocosttermPlan |
| Category | Education |
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