This week, I’m talking about index card personal finance. I’m summarizing the best advice on personal finance and sharing with you what I would squeeze onto a 3x5 index card. 

Today’s rule is to spend less than 70-80% of your income every month.  

When you only spend 70-80% of your income, everything else seems to fall into place. You’re able to save enough for retirement, maintain a healthy emergency fund. You’ll also be able to set aside money every month for large purchases, so you can pay cash for things like home remodel projects, your next car, your daughter’s wedding.

And importantly, you’ll be able to give to the causes and organizations that are important to you. Restrained spending, healthy saving and giving are key to aligning your money with your values and giving you the breathing room necessary to not stress about money and not fight about it if you’re married. 

And it all starts with living off of 70-80% of your income, since without doing that the saving and the giving just won’t happen.

That’s it for today. Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.

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