50/15/5: A Saving and Spending Rule of Thumb
Budget. Does anyone like that word? How about this instead: the 50/15/5 rule? It’s Fidelity’s simple rule of thumb for saving and spending.
- Aim to have no more than 50% of your take-home pay go to essential expenses.
- Try to set aside up to 15% of your before-tax income to retirement.
- Aim to keep 5% of your take-home pay in short-term savings for unplanned expenses.
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Source: Fidelity.com
Useful Links:
Budgeting experts say keeping a "spend" journal will force you to carefully consider whether you want to make a purchase. Read tips from Bankrate.com.
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The content on this site includes links to tools and information that are not the property of BMC Software, and BMC Software is not responsible for their accuracy, completeness or continued availability. Some of the material contained in this site is based on official plan documents. It is not, nor is it intended to be, the legal plan document or a contract between the company and any employee or contractor. Every effort has been made to ensure the accuracy of this material. In the unlikely event that there is a discrepancy between the site and the official plan documents, the official plan documents will control. BMC Software reserves the right to amend or terminate the plan(s) or program(s) at any time. If you believe the benefits do not describe those available to you, contact the Benefits Center at 877-BMC-4849.
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