Saving one third what you earn monthly is not that hard, isn't it ?

[Jody.Drummer]

Earning $3,000 a month is already quite a bit in our country. You are able to purchase a vehicle, a respectable rental home, wholesome food, and other items. If I were to earn that much money, I would definitely set aside a portion of it for savings, invest in businesses that generate passive income, gradually purchase assets, and set aside cash for emergency funds.

I think it's just about adjustments because indeed we also can't force it and it's possible that the OP is in a big country with that much income so that $3000 in his country looks small but this really depends on where you live and what is your average basic salary for 1 months so this is indeed adjusted in my opinion.
But the point I see is that 1/3 of the income we have for 1 month means this is about 30% of our income, can we really do that. Actually I think it's a little difficult but depending on what we want to go for when we really want to be consistent with 30 percent to save I think it can be but I would probably save less than that because for me the remaining 70% is for my daily life and other windfall funds will not be enough.

[isaac_clarke22]

~

Yeah we should also consider the region stuffs since dollar value is different. $3000 here in my country would be like a wonderful amount to have and you could just live in the metropolitan area living a comfort life for sure. Sometimes that 1/3 might be enough already depending on how you spend your money anyway. Are you buying unnecessary stuff daily? Some people can save more than that if their electricity is not high up in the ceiling since some countries just have the worst electricity cost.

Considering electricity cost is painful right now in my country I can understand that some would be just go for lower.

[minime0105]

I will not say this is hard or is not hard because for anybody to save be it one third or half of what you earn you have to be decipline as a person in your expenses, you should plan your expenditure be it daily, weekly and monthly and always cut cost in other to achieve this savings, saving one third of what we earn most times wouldn't work because when you earn little and much is expected of you from people that depends on you how will this stand but for an economist and a calculative person this will be the best saving option but it solely depends on how much he or she earns monthly.

[Oasisman]

I will not say this is hard or is not hard because for anybody to save be it one third or half of what you earn you have to be decipline as a person in your expenses, you should plan your expenditure be it daily, weekly and monthly and always cut cost in other to achieve this savings, saving one third of what we earn most times wouldn't work because when you earn little and much is expected of you from people that depends on you how will this stand but for an economist and a calculative person this will be the best saving option but it solely depends on how much he or she earns monthly.

In a third world country, it is definitely hard. Beside the fact that we have a very low salary range here, but also the products and necessities' price are constantly rising, putting the thoughts of saving aside. So, it's almost impossible for you to have at least the third half of your income not intended for something like bills and other necessary expenses. We literally are working to survive here, If you don't have enough guts to look for another way to earn, you'd probably going to end up broke and homeless once you lost your only job.

[odunybiz]

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 ?

It depends a lot by where one lives. If I'd be earning $3k from salary (after tax), it would be wonderful. But I don't.
Also the expenses differ greatly from country to country.
So the math you've done, although nice, doesn't apply in most parts of the world.

It also depends on lifestyle and choices made.

This also depends on your country. It easy to do such in some countries but very hard in some. I will just simply advice we maintain a simple lifestyle that will enable saving

[Oilacris]

I will not say this is hard or is not hard because for anybody to save be it one third or half of what you earn you have to be decipline as a person in your expenses, you should plan your expenditure be it daily, weekly and monthly and always cut cost in other to achieve this savings, saving one third of what we earn most times wouldn't work because when you earn little and much is expected of you from people that depends on you how will this stand but for an economist and a calculative person this will be the best saving option but it solely depends on how much he or she earns monthly.

In a third world country, it is definitely hard. Beside the fact that we have a very low salary range here, but also the products and necessities' price are constantly rising, putting the thoughts of saving aside. So, it's almost impossible for you to have at least the third half of your income not intended for something like bills and other necessary expenses. We literally are working to survive here, If you don't have enough guts to look for another way to earn, you'd probably going to end up broke and homeless once you lost your only job.

This is in fact the reality on which you cant really be able to save up no matter how you do like on considering it out that you are even struggling yourself on daily living out of those salary you do
gain on monthly basis which is something that couldnt really be avoid out and this is why we cant really just make out some degradation or criticisms that people are insensitive when it comes to
this matter on which there are really things which you cant do it all even if you wanted to.

It is really just that hard on doing but it i do agree on some words that there are really ones who dont really care at all and dont put up much effort instead.

[capedbaldy]

In a third world country, it is definitely hard. Beside the fact that we have a very low salary range here, but also the products and necessities' price are constantly rising, putting the thoughts of saving aside. So, it's almost impossible for you to have at least the third half of your income not intended for something like bills and other necessary expenses. We literally are working to survive here, If you don't have enough guts to look for another way to earn, you'd probably going to end up broke and homeless once you lost your only job.

The low salary they get does not allow them to allocate money for savings, after inflation in some countries but the government does not increase the minimum wage for workers so that the salary is only enough for monthly needs to survive, so they have to find alternative jobs for savings and now many jobs for couriers and online driver jobs that pay higher than normal jobs.

[YOSHIE]

Is this possible based on where you live ?

Let alone people who have a steady income with a permanent salary, if you talk about saving from the income of a bedic driver, they can and can do it, the important thing is, there is a will, patience and determination.

Save/invest part of their economy, that's a thing to do for those who know it, I once read one of the sources, but forgot where I read it, with the title of a successful farmer and became a billionaire due to crypto investment, it's one of the historical things that investing/saving doesn't have to be for people who have a steady income, farmers can do that too, if they want to be successful in terms of their own economy.

I believe that some percent of our income is invested in crypto, in the next 1-5 years whoever does it they will reap the rewards of their investment, believe and belief do, that's the key.

[ajiz138]

Earning $3,000 a month is already quite a bit in our country. You are able to purchase a vehicle, a respectable rental home, wholesome food, and other items. If I were to earn that much money, I would definitely set aside a portion of it for savings, invest in businesses that generate passive income, gradually purchase assets, and set aside cash for emergency funds.

Different countries have different needs, but for me $ 3,000 is enough if it is used properly and not excessive in any expenses, with rental fees etc. This must be taken into account, including vehicles, many variations in price, so it is smarter to manage income every month to set aside in investment as a long-term asset.

At least don't put it in one investment we have to be able to diversify into other assets which may be stable investments and that needs strong consideration and with a little money set aside for other investments or businesses we will get more profit this is not easy but by starting the process long one we will enjoy good result.

As well as one thing we need to know that good financial management will grow a good investment as well, as I did that and $ 3,000 for me is enough to arrange all that is needed a month as our fees including rent paid and the rest can still be invested in several diversified assets including bitcoin as well.

[Cryptock]

You don't say it. It is actually very hard for me. I am always exhausting my balance because I
really need to survive and make my family live better life tbh. The money that I am earning is not
much to live on considering the no minimum wager limit style in my country. This means even
though I have pursued higher degree education it won't be counted towards my high paying job.
I will still have to start from the scratch, from the shop floor and keep myself engaged in
adopting the work culture and get paid lowest wager they could give it to me. If not, then they
will simply higher another talent in the process and forget about me. We always have settling
time of around 10-12 years from the date we start our jobs and stay consistent. So no, not every
one is lucky enough to save the money all the time.

Thank you very much. Comments like yours let me know more about different situations out there in the world. Everyone has their own circumstances and problems. I can feel your great hopes for a better life and do believe  one day you can live the life you always dreamed of. Keep up your hard work and a prosperous future is awaiting you !

I appreciate all those people who are making their life better by working hard.
They are the real survivor - I read what the OP has mentioned. Best of luck and keep up the good work.

[og kush420]

Earning $3,000 a month is already quite a bit in our country. You are able to purchase a vehicle, a respectable rental home, wholesome food, and other items. If I were to earn that much money, I would definitely set aside a portion of it for savings, invest in businesses that generate passive income, gradually purchase assets, and set aside cash for emergency funds.

I think it's just about adjustments because indeed we also can't force it and it's possible that the OP is in a big country with that much income so that $3000 in his country looks small but this really depends on where you live and what is your average basic salary for 1 months so this is indeed adjusted in my opinion.
But the point I see is that 1/3 of the income we have for 1 month means this is about 30% of our income, can we really do that. Actually I think it's a little difficult but depending on what we want to go for when we really want to be consistent with 30 percent to save I think it can be but I would probably save less than that because for me the remaining 70% is for my daily life and other windfall funds will not be enough.

I many country people dont earn $3000 - for them it is quite a money.
But even our house help knows how to save money. They save and deposit some amount to their friend and get a total amount in full after few months. I will also save some money this year - this is my biggest goal

[Theones]

In a third world country, it is definitely hard. Beside the fact that we have a very low salary range here, but also the products and necessities' price are constantly rising, putting the thoughts of saving aside. So, it's almost impossible for you to have at least the third half of your income not intended for something like bills and other necessary expenses. We literally are working to survive here, If you don't have enough guts to look for another way to earn, you'd probably going to end up broke and homeless once you lost your only job.

The low salary they get does not allow them to allocate money for savings, after inflation in some countries but the government does not increase the minimum wage for workers so that the salary is only enough for monthly needs to survive, so they have to find alternative jobs for savings and now many jobs for couriers and online driver jobs that pay higher than normal jobs.

saving some of the funds is very important. One should try to save as much as one could.
And finding a side hustle and alternative jobs is very important. I have stopped all my entertainments and started saving all my hangout and dining out funds.

[Fivestar4everMVP]

Haha, if i earn up to $3000 after tax in my country, I am sure that I will able to safe up to $2000 monthly even as a family man that I am, Saving is easy, but most times, we are the ones that make look like a big deal.

If for example i earn $500 per month and i am still able to save $200 after all the expenses as a family man, earning $3000 per month means i can still save up to $2000 or $2500 if i want to,

How is this possible?

Its simple, Don't introduce or bring in new expenditures just because you now earn higher, just continue to maintain the previous expenditures, its not easy but discipline yourself to do it, at least, until you have saved more than enough.
 

[Mr. Magkaisa]

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 ?

   - That's a big amount here in my country, When I earn like that every month, I am pretty sure I can save 2000$ every month.

In just one year of savings, I can buy a brand new house and lot and a second-hand car with that kind of salary, if it's here in my country of birth. But if I'm in another country like the US, Canada, or Europe, I'll probably only be able to save around 1000$ per month.

[oaz7t]

You don't say it. It is actually very hard for me. I am always exhausting my balance because I
really need to survive and make my family live better life tbh. The money that I am earning is not
much to live on considering the no minimum wager limit style in my country. This means even
though I have pursued higher degree education it won't be counted towards my high paying job.
I will still have to start from the scratch, from the shop floor and keep myself engaged in
adopting the work culture and get paid lowest wager they could give it to me. If not, then they
will simply higher another talent in the process and forget about me. We always have settling
time of around 10-12 years from the date we start our jobs and stay consistent. So no, not every one is lucky enough to save the money all the time.

[Erumo]

In my country it is possible to save third of monthly earning only if a person is an ascetic. Or if a person does not have dreams or life goals. I will explain why. You earn low - you spend all the money during month. You earn average, you manage to save couple of hundreds. But that is not a third. You will be lucky if you manage to save during a year for a 7-day summer vacation somewhere abroad. You earn a lot - you want to have a lot. You start to buy expensive things, live expensive life. You still spend a lot.

[TalkativeCoin]

It all depends on where you live, 1/3 is a stretch for most of the population, and 1/4 is much more realistic. For example, where I live 1/3 of a salary is the minimum for rent.

The thing is that you have to have a buffer for unexpected expenses too, you can't have all invested right away.

[bangjoe]

Wow... If I earn $3000 of income and still be 20 years old, that is already a very big achievement in my country even maybe it is almost the same as my father's income for 10 months working.
But maybe what OP meant was more precisely saving to invest regardless of income because basically the minimum wage for each country has its own variance according to regional standardization. Now I may not be able to get a steady income for a month but I can still save even though it's not 1/3 of my income because for me if you want to get better, no matter how small the money you invest, if you do it continuously, you will get the expected return.

[gunhell16]

If I am one of the people who wages 3000$ monthly, I could save probably around 1500$ every month.
And I could live progessively. Aside from that, I can also give support to my parents as well aside for my own family
being as a Family man.

So 1/3 is just very easy to apply monthly as an employee to separate it as a savings, it is true that's not hard
to do it anyway.

[o48o]

Haha, if i earn up to $3000 after tax in my country, I am sure that I will able to safe up to $2000 monthly even as a family man that I am, Saving is easy, but most times, we are the ones that make look like a big deal.

If for example i earn $500 per month and i am still able to save $200 after all the expenses as a family man, earning $3000 per month means i can still save up to $2000 or $2500 if i want to,

How is this possible?

Its simple, Don't introduce or bring in new expenditures just because you now earn higher, just continue to maintain the previous expenditures, its not easy but discipline yourself to do it, at least, until you have saved more than enough.

When it comes to determining if it's possible to save as much it all depends on the cost of living in your country.

For example sounds like your rent and other expenses isn't taking much from your salary.

In where i live $500 wouldn't cover 1 bedroom apartment. Not to mention insurance, water and electric bills that come to top of that. And i am talking about apartments that are considered as cheap.