10X10X5 Savings Plan
Since my time teaching abroad, up until now here in the US, I have been utilizing a 10X10X5 Savings Plan. It has helped me to achieve many of my personal and family financial goals with very little financial pain.
It’s a rather simple plan, but it’s simplicity doesn’t get in the way of its effectiveness. The 10X10X5 works like this. 10% of your income is set aside for charity or church tithings. Another 10% of your income is set aside as savings. 5% of your income is set aside for entrepreneur activities. Maybe it’s opening a business or investing in a more risky investment.
What kind of savings plan do you have?
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