The 10% rule merely simplifies the habit of saving money. If you live within your means, it's not difficult at all and I can comfortably save more than that percentage. I don't use my credit card to finance travels or other luxuries I have not saved for nor do I burden myself with idle or unnecessary assets. I want my money to work for me now and in the future and the only way to do that is by taking care of my money and putting it to good use.
I've always been using the 10% rule and it works perfectly for me. I find it favourable because it's flexible enough no matter how much you earn that month. It's better than having a fixed amount of money to save every month and don't forget it's better than not saving at all.
I was not aware of this rule, but however I save some money every month in the form of recurring deposit. To be frank I am a spendthrift and it is very difficult for me to save money. While shopping I always end up spending more than my budget. But in a recurring deposit I am forced to keep a part of my earning there. Moreover, as you know it works on the principle of compound interest which ensures a good amount at the time of maturity. Other than this I don't have any other savings and I think it contributes more than 10% of my income. Anyway I am trying to control my spending and save more.
