Post
Topic
Board Economics
Re: Saving one third what you earn monthly is not that hard, isn't it ?
by
summonerrk
on 18/06/2023, 20:53:04 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 ?

What you have described is more suitable for the capital in the country where I live. Because $ 3,000 is a lot to earn even in a very high position. As well as spending 500 dollars on food is a lot. For the city where I live, the amounts of the are smaller than you described, about 2.5 or 3 times. Here, an income of $ 1,000 is very good, about $ 200 is spent on food. To rent an apartment is about $ 150. And this is good in principle, because we all earn almost the same on cryptocurrencies on the forum, and prices in a place where I live are cheap for life.