Flexo has done a review on the Money Magazine's 25 rules to grow rich. Read the full story here.
Though there are many things which don't apply in the Indian scenario like the 401(K). However decide for yourself for these rules:
- Spend no more than 2 1/2 times your income on a home. For a down payment, it's best to come up with at least 20%
- Your total housing payments should not exceed 28% of your gross income. Total debt payments should come in under 36%.
- It's worth refinancing your mortgage when you can cut your interest rate by at least one point.