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Investments, profits, interest on mutual funds

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We all know that we should be saving our money.  However, one of the most asked questions is, “How much should I save from each paycheck?”

According to Money Under 30, people should be saving 20% of their income. It’s called the 50/30/20 Rule.  It’s where you will spend 50% of your income on essentials (rent, utilities, food…ect), then you 30% of your pay check on discretionary things like going to the movies.  20% of your income should go to savings account.

The key is to start somewhere, and have an attainable goal, and put a plan in place to get there.  So, until next time, keep stacking your coins!!