The "70/10/10/10 rule" is a budgeting method that divides after-tax income into four parts, Moneycontrol reported. The 70% of income is for living expenses, 10% for long-term investments, 10% for short-term savings, and the last 10% for debt repayment or personal growth. It allows a person to decide on spending in advance and assess whether their lifestyle matches their income.