Personal Money Management Ways II - 10/20/70 (FD25082020-6)

This is another concept about how one manage his money. It was an idea which i read it from the Richest Man in Babylon written by Geroge S. Clason. According to the book, when one receive his salary, one should divide the portion of the money into 3 categories: 1. 1/10 for yourself - This is the category where one should save one tenth of his money for his savings and investment. This is the money that one should not spend and is for the purpose for saving for his family futures. 2. 2/10 for repaying debtor - This is the category where one who is in debt and need to pay the debtor he own the money too. It was being encourage to be pay on pro rata to all the debtors. 3. 7/10 for your daily expenses - This is the amount that one expenses should never exceeded for one daily life . While it seem strange, i found it quite useful for people who are in debt and do not see any hope of repaying and surviving their lifestyle. This will take a longer time nevertheless it is a good ways for one who wish to accumulate some savings and target to be free of debt in future.