"Thumb Rules of Financial Planning" by FinVise India
*Thumb Rules of Financial planning.* 1. 30% of your income must be used for *monthly living expenses.* 2. 30% of your income must be used for *Liabilities repayments*, if any.. 3. 30% of your income must be *SAVED* and *INVESTED* for your future LIVING. 4. 10% of your income must be spared for *entertainments, vacations* 5. 6 months expenses must be available for *emergency fund* (should be invested in LIQUID FUND, FD Etc) 6. *Home loan* must be registered and apply on both *husband and wife name.* (Both can get benefits on Home loan Tax benefits) 7. Buying *second house for investment is not advisable* (Survey reports - it will fetch you only around 3% return) 8. After 45 years of age, *not supposed to enter into any BIG LIABILITIES* (Higher education of children and wedding of children will happen around 45 to 50 only, so plan now for the same.) 9. Have joint account @ Bank savings account. 10. Property must be *registered on both Husband and wife name*. (As per legal act