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How to Cut Your Expenses by Thirty Percent
By Capitalist | February 16, 2009
Mounting expenses and budgetary constraints are two of the most common characters of a middle class family. But it is your onus to save for the dry days of life. It might be your child’s education, marriage, medical emergency or even days of unemployment (more pragmatic case since recession).
This is why you should look to save at least 30 percent of what you earn. There are plenty of ways to do it. Make a piggy bank and put in some 30 percent of your income each month and promise yourself not to touch it at any rate.
Better still, ask your payers to put in 30 percent of your salary in a saving scheme prior to handing it over to you. You might also ask your bank to keep 30 percent of you salary in a lien and allocate only 70 percent for disbursal.
Topics: Expense management | No Comments »