20/10 Rule

Staying in the Black
20/01/2023 21 min
20/10 Rule

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Episode Synopsis

If your net monthly pay is $5000, here is how you would find your 20/10 numbers:Multiply your net monthly pay by 10% $5,000 per month x 0.10= $500 Then your annual pay by 20% ($5,000 per month x 12 months) x 0.20= $12,000Therefore, your overall consumer debt should not exceed 12,000and your monthly debt repayment should exceed $500 
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