Rules of Wealth Creation-2 1) *50-30-20 Rule - about allocation of income to expense* Divide your income into 50% - Needs (Groceries, rent, emi, etc) 30% - Wants (Entertainment, vacations, etc) 20% - Savings (Equity, MFs, Debt, FD, etc) Atleast try to save 20% of your income. 2) *3X Emergency Rule* Always put atleast 3 times your monthly income in Emergency funds for emergencies such as Loss of employment, medical emergency, etc. 3 X Monthly Income.  In fact, one can have around 6 X Monthly Income in liquid or near liquid assets to be on a safer side. 3) *40%EMI Rule* Never go beyond 40% of your income into EMIs. Say you earn, 50,000 per month. So you should not have EMIs more than 20,000. 4) *Life Insurance Rule* Always have Sum Assured as 20 times of your Annual Income 20 X Annual Income.  Say you earn 5 Lacs annually, you should at least have 1 crore insurance by following this Rule. 5) Rule of 144*  No of years it takes to double your money a...