a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by GingerBeardMan
GingerBeardMan  ·  3172 days ago  ·  link  ·    ·  parent  ·  post: Simple finance guide for people who don't like to read finance guides

If I were to save 50% of every dollar I made, I would have money for rent, and then approximately $200 to split between, utilities, fuel, food, insurance, phone bill (it's 2015, don't act like this isn't a necessity at this point) for the month. Let's break this down. I spend about $30 a week on fuel to just get back and forth to and from work. This brings me to $80, my phone bill is $30 a month, and my half of the utilities are about $50 a month. This leaves me with $0.00 to spend on food for the month. This plan is pure bunk in this economy, where even a hazmat driver gets minimum wage.





rinx  ·  3172 days ago  ·  link  ·  

He said to try for 50%, not that it's mandatory. The point about paying yourself first is a good one and I stand by it. While not everyone can afford to save that much, you should save something.