The "rule of 7" in finance refers to the guideline of saving 7% of your gross income.
According to the reference provided, the seven percent savings rule offers a straightforward but effective guideline. It suggests that you save seven percent of your gross income before any taxes or other deductions are taken from your paycheck. Saving at this level can help you make continuous progress towards your financial goals through the inevitable ups and downs of life.
In short, this rule emphasizes the importance of consistent saving habits to achieve long-term financial stability.
