I saw this post talking about the 10% rule as a tool to use on the frugal lifestyle path. The 10 percent rule has been used to grow retirement funds, to increase physical fitness, as well as to in education. What is this all about?

Some people may know this as tithing. However there is a difference since when you tithe you give 10% to charity, your religious organization or to a needy person. With this rule you take 10% of your income and put this aside as savings. This is just one aspect of living frugally on the path to wealth.

You can also make this rule work for you in other ways.

• You can as the author of the post advised, use 10% less of cleaning items, etc to help you reduce your monthly household expenditure. The money saved can then be used for debt reduction, savings and rewarding yourself.
• You reduce your eating out by 10%.
• Reduce your fuel bill or transport fare by walking where possible.

There are lots of other ways that you can apply this to your life. Think about where you can apply this rule for saving and just do it!

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Tags: Frugal Tips, saving
Filed under: Frugal Tips