The Richest Man in Babylon In good times and bad, consistently saving a percentage of your income is a sound financial practice. Share | Have A Question About This Topic? Name Email Address Message Thank you! Oops! Related Content When Life Insurance Becomes Taxable Life insurance proceeds are generally tax-free. But not in all cases. Insurance Needs Assessment: When You're Young and Single Even if you’re young and single, you should still consider protecting yourself. Charitable Giving: Smart from the Heart Do you have causes that you want to support with donations?