Whether it’s an annual bonus, tax return or another windfall of income you just received, make the most of your additional income simply by following the rule of thirds:
1. Apply one third to the past by paying down debt you already owe.
2. Apply one third for the future immediately into some sort of savings or investment.
3. Use one third for the present, feeling good about making a well deserved home, personal improvement or purchase you want.
If you follow this simple rule of thirds, you’ll see your debt shrink and your savings grow, and you won’t feel deprived of enjoying the excitement of your additional income!
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