Post
Topic
Board Economics
Re: Saving one third what you earn monthly is not that hard, isn't it ?
by
bettercrypto
on 08/05/2023, 07:57:03 UTC
If you are in twenties or early thirties and remain single, earn $3,000 after tax per month, you will probably save $1,000 if you, let's say, spend $500 to $800 on rental, a guest bedroom in a shared house/apartment, $500 on food, $50  on utilities, $150 on phone/internet bills, $400 on commuting costs or gas/maintainance if you have a used car, $200 on occasional entertainment or others. This $1,000 savings will allow you to invest or place a house down payment when time is ripe. Is this possible based on where you live ?

Of course, that can happen every month, maybe more than $1000 can be saved if you are frugal and don't spend too much. When you are careful with money you can accumulate it really easily.

     Even if I earn 3000$ monthly, I can definitely save 2k$ every time I get paid at the job I have. Maybe I can save another 2500$. Because I don't like to wander everywhere with my friends. That's doable and attainable actually.