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~ It's not possible where I live because $800 per month is considered a very good salary here, so saving $1k is out of question. But I think I can contemplate the possibility of saving 30% of your income. It's impossible in my opinion. It's too much. And those guys earning $3k per month, I'm sure they are living in places where everything, food, electricity, medical care and stuff, everything is more expensive there, so, they couldn't afford saving that much.
1/3 or 1/4 or 1/10 is not the point.
My emphasis would be this:
- Borrowing money in the form of loans to cover "ordinary" needs is a bad way to go. You borrow $1, but you will owe $1 plus interest back. Which means you'll have a bigger need to borrow tomorrow. And it's a vicious circle. The solution is to change your income and/or change your consumption.
- You need to constantly strive to improve your financial health. Both yourself and your children. And the way to do that is the way to develop your skills. There is always time and opportunity to be found. Even if it's very hard. Otherwise nothing will change. It's very simple - it's foolish to expect change if you keep doing the same thing every day.
- You need to limit unreasonable consumption - from food to things. A lot of what you acquire has no real value in your life
- it is necessary to always think about the FUTURE. You can't live "here and now"!
- It's necessary to form a "financial cushion", this is just about 1/3, 1/4, 1/10 ...
- It is necessary to form a set of passive income
It all seems a bit complicated, but ... you have to do it and it's not so hard! You may not be able to do it all at once!
But without changing anything your life will stay the way it is ...
I agree with everything you said except the last sentence. There is a saying in economics: "If there's no growth then there's no life in it." If we are not making things better then our life will not stay the way it is, it will be getting worse. So, basically, we have no choice but to grow. We should be improving our knowledge, our income should be getting bigger, and our living conditions must our living conditions must improve along with it. We must be moving forward, we can't afford to stand still.