masterbuilder22
Junior Member
- Feb 9, 2019
- 122
- 136
Hi guys,
I hope everyone is doing well during this pandemic era
I've been making money online since 2010-2011. If there's anything I've learned is: Save money, so money can save you back later.
Let me introduce you guys to the 10% RULE...
HMMM.... OKAY BUT WHAT'S THAT 10% RULE ALL ABOUT?
Actually, it's actually pretty simple, the whole point of this rule, is to NEVER spend more than 10% of your capital / gross income. Let's take an example for someone making ~$42,000 a year.
Spend no more than 1/10th your gross annual income on the purchase price of a car. If you make the median per capita income of ~$42,000 a year, limit your vehicle purchase price to $4,200 if you must buy one. Absolutely do not go and spend the median car price of $36,000!
So this can be applied to EVERYTHING in your life.
OKAY.... BUT WHY SHOULD I FOLLOW THIS RULE?
- Maintenance costs: You'll never just pay the price listed. Don't forget that if ANYTHING happens, you still have 90% of your revenue to cover it up
- Stress: If you pay more than 1/10th your income for something, you'll always be scared to lose it, or break it... Honestly, this stress is worth it, because you should ENJOY what's YOURS
-Makes you want more: When you start doing this, you'll want to make even MORE money to feel even better and to buy more expensive stuff AT A LOW RISK! That's where you want to be.
I know it's frustrating to have a lot of money and to spend only 10% of it, but think of it this way:
** IF YOU MAKE MORE, YOU'LL FEEL LIKE YOU DESERVE MORE!!!!! **
I hope everyone is doing well during this pandemic era
I've been making money online since 2010-2011. If there's anything I've learned is: Save money, so money can save you back later.
Let me introduce you guys to the 10% RULE...
HMMM.... OKAY BUT WHAT'S THAT 10% RULE ALL ABOUT?
Actually, it's actually pretty simple, the whole point of this rule, is to NEVER spend more than 10% of your capital / gross income. Let's take an example for someone making ~$42,000 a year.
Spend no more than 1/10th your gross annual income on the purchase price of a car. If you make the median per capita income of ~$42,000 a year, limit your vehicle purchase price to $4,200 if you must buy one. Absolutely do not go and spend the median car price of $36,000!
So this can be applied to EVERYTHING in your life.
OKAY.... BUT WHY SHOULD I FOLLOW THIS RULE?
- Maintenance costs: You'll never just pay the price listed. Don't forget that if ANYTHING happens, you still have 90% of your revenue to cover it up
- Stress: If you pay more than 1/10th your income for something, you'll always be scared to lose it, or break it... Honestly, this stress is worth it, because you should ENJOY what's YOURS
-Makes you want more: When you start doing this, you'll want to make even MORE money to feel even better and to buy more expensive stuff AT A LOW RISK! That's where you want to be.
I know it's frustrating to have a lot of money and to spend only 10% of it, but think of it this way:
** IF YOU MAKE MORE, YOU'LL FEEL LIKE YOU DESERVE MORE!!!!! **
