• The Top 10 Personal Finance Rules to Live By

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    The Top 10 Personal Finance Rules to Live By

    1. 108113521Save at least 10% of your income.

    2. Have at least three months of living expensed in an emergency fund.

    3. Get a life insurance policy worth at least 6 times your household income.

    4. Use the 20/4/10 rule when buying a vehicle.

    5. Save 20 times your gross income for a comfortable retirement.

    6. Put down 20% on a house and don’t borrow more than two times your income.

    7. Subtract your age from 100 to determine what percentage of your portfolio should be in stocks.

    8. Pay off highest interest rate debt first.

    9. Max the match on your 401(k).

    10. Don’t take out more in student loans than you expect to make your first year on the job.

    Read more details about these rules to live by Mint.com

    Craig Guillot is a business and personal finance writer from New Orleans. He covers insurance, investing, real estate, retirement and debt. His work has appeared in such publications and web sites as Entrepreneur, CNNMoney.com, CNBC.com, Bankrate.com and Investor’s Business Daily. He is the author of “Stuff About Money: No BS Financial Advice for Regular People.”

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