WHEN it comes to personal finance, one principle often repeated is: Income – Savings = Expense. This simple formula emphasizes the im-portance of prioritizing savings before spending.
Many experts even suggest allocating a fixed percentage of your income to various categories, such as 20 percent for savings, 10 percent for tith-ing and 10 percent for self-development. While these rules of thumb can be useful for those beginning their financial journey, they don't always hold true for everyone — and here's why.
