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September 6, 2022

Don't let money ‘rules' get you down

  • The average American doesn't come close to hitting many of the popular money rules.
    • By KELSEY SHEEHY
    NerdWallet

    Put 20% down when buying a home. Don't spend more than 30% of your income on housing costs. Keep child care expenses below 10% of your annual household income.

    These money rules of thumb can be useful guardrails, helping you allocate spending and determine what's affordable. They can also be incredibly defeating when they feel unattainable.


     
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