12 Incredible rules to achieve Financial Freedom at age 30

Below rules will help you to prepare for unforeseen circumstances in your life.

1. 15-15-15 Rule: If you invest Rs.15,000 for 15 years at a 15% return, you will get 1 Crore rupees which is enough to lead a decent life.

2. 20-20-12 Rule: If you invest Rs.20,000 for 20 years at a 12% return, you will get 2 Crore rupees which help to lead a happy life.

3. 80-20 Rule: 80% of your returns come from 20% of your investments. This is a well-known rule applicable to each aspect of our life. If you follow this, then you are seemingly reducing the risk associated with your life.

4. (100-age)% Rule: Invest (100 - age) % of your amount in growth assets like equity and the rest in fixed income assets like bonds. This rule generates commitment, willpower and discipline to handle money.

5. 6X-12X Rule: Build an emergency fund by saving 6 to 12 times of your monthly expenses in Fixed Deposit. This is an important rule which you need to follow in the early stage of your career before you start to invest.

6. Don't buy anything if you cannot afford to buy it twice. This is a strong statement conveying deep insights to avoid over-spending of money.

7. Don't increase your expenses when your salary increases. This is hard to hear in the current fast pace life but will provide fruitful results in the long run.

8. If you save 70% of your income for 10 years and if you did not upgrade your lifestyle, you will retire after 10 years. This is a good rule stating the harsh reality in an over-simplified format.

9. Buying materialistic things only if there is a utility for them. For example, buy an i-phone if you actually need it. Don't buy it because there is a discount available or your friend is buying it. This rule is applicable for anything you buy in your life.

10. Increase your income potential by developing many parallel sources of income.

11. Create a business or invest in the business to earn more and position yourself in the mid of competitors.

12. Pay off your debts as early as possible and avoid taking loans for unnecessary expenses. Bad loans spoil your money to a greater extent. So, always be sensible in the way you take loans as it is crucial to living a peaceful life