Don’t let the “rules” of money put you down

20% off when buying a home. Do not spend more than 30% of your income on housing costs. Keep childcare expenses under 10% of your family’s annual income.

These basic money rules can be useful buffers, helping you customize spending and determine what’s affordable. She can also be incredibly subdued when she feels unattainable.

If you feel that the “rules” of money are completely separate from your reality, know this: The average American doesn’t come close to fulfilling many of the common money rules. that’s good.

“If you treat ‘ground rules’ as strict rules, you’re setting yourself up for frustration,” says William O’Donnell, president of Heartland Financial Solutions in Bellevue, Nebraska. “The thing people tend to forget is that the guidelines are flexible because everyone’s situation is different.”

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