Financial freedom is the ultimate goal for anyone looking for long-term stability. It’s not about how much you earn, but how much you keep and grow. Here are 10 essential rules to master your personal finances:

• 50/30/20 Rule: Allocate 50% for needs, 30% for wants, and 20% for savings/investments.
• Pay Yourself First: Automate your investments as soon as you receive your salary.
• Resist Lifestyle Creep: Don’t upgrade your lifestyle immediately after a pay hike; invest the surplus instead.
• The Rule of 72: Divide 72 by your expected annual return to see how fast your money doubles.
• Eliminate High-Interest Debt: Any debt over 7% is an emergency. Use the ‘Debt Avalanche’ method to clear it.
• The 4% Rule: You can retire when your portfolio is 25 times your annual expenses.
• The 24-Hour Rule: Wait for 24 hours before making any non-essential purchase over ₹10,000 to curb impulsive spending.

Strategic diversification and maintaining an emergency fund are the pillars of a secure financial future. Focus on the “Big Three”—housing, transportation, and food—to maximize your savings rate.