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

[lizarder]

When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.

The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.

If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.

[1714659129]

1714659129

[1714659129]

1714659129

[1714659129]

1714659129

[Crypt0Gore]

I have a friend that's unable to keep money aside for saving since he gets married, expenses have grown higher and his job paycheck is not keeping up, now he is planning to go for another job just to be able to provide for his family, savings is not that easy unless it's just you alone with no family to look after.

[Fredomago]

When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.

The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.

If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.

That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.

We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.

[Cryptodebjoe]

i dont believe money was created to be saved it was created to revolve thats why its called currency... anything that stays stagant for too long either stinks or looses its value, its okay to save for a short while but make sure youre reinvesting in a profitable venture. for those of us that believe in the bible there was a servant that was given 1 pound and when he returned that exact pound His master which is God was displeased with hin but rather those that traded theirs where blessed with more and promoted so i think its Gods mindset that money musnt be saved but invested for a profit i would also advise from the same book that you must calculate the cost of any venture before investing to avoid severe loss....

[Lanatsa]

When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.

The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.

If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.

That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.

We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.

Yes, when we do  talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would

really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.

This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.

[glendall]

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 ?

if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same

[Inwestour]

Yes, when we do  talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would

really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.

This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.

This is true, before you start investing you need to make reserve savings, which will always be available, and only after that it will be wise to start investing. After all, if you want to invest all the money that you save, then in the event that you may need funds, you will have to sell part of your investment and you may have to do this at a loss.

That is why it is so important to have a certain amount, for unforeseen circumstances. And after that, you can safely start investing, and you should not worry that this reserve does not generate income, it has a different function, it provides you with financial confidence, which is also very important.

[White pawn]

Yes, when we do  talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would

really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.

This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.

This is true, before you start investing you need to make reserve savings, which will always be available, and only after that it will be wise to start investing. After all, if you want to invest all the money that you save, then in the event that you may need funds, you will have to sell part of your investment and you may have to do this at a loss.

That is why it is so important to have a certain amount, for unforeseen circumstances. And after that, you can safely start investing, and you should not worry that this reserve does not generate income, it has a different function, it provides you with financial confidence, which is also very important.

Before anyone would go into investing into anything, it is always advisable to have some savings. You do not have all your eggs into one basket. You do not put all your money into investing into one or more projects. There is a huge need to have some savings left aside.
Do not go into investing if you do not have a comfortable source of income also( working two jobs would be better to be able to save more).

[xSkylarx]

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 ?

if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same

Though most of us will say 1000$ it as the value on the country it is still low or not enough in this third world country as the living expenses in those area are big that needs huge amount of money. There are ton of people earning big that still cant afford on renting house and they are just living in a streets. Let's also base our monthly income on what country we are living in as others will say it was big but if you are living in first world countries it isn't enough.

[molsewid]

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 ?

if for singles in my area 1000$ is enough for living expenses in 1 month or more, and you can invest 2000$ each month, indeed the level of life for each country is different so you can say that the way to manage expenses will not be the same

Though most of us will say 1000$ it as the value on the country it is still low or not enough in this third world country as the living expenses in those area are big that needs huge amount of money. There are ton of people earning big that still cant afford on renting house and they are just living in a streets. Let's also base our monthly income on what country we are living in as others will say it was big but if you are living in first world countries it isn't enough.

Actually that $1000 is the total of my corporate job plus all my side hustle because I'm living in 3rd world country. Right now I only can afford 100$ max for savings, why? because of other responsibilities I really want to save more and invest more but inflation really hurt us and it broke my budgeting, yes it is not hard it you have less priorities but if you have then it is kinda hard honestly. But it will not end there, I will look for a job with $1000 salary and my earning in side hustle will be my investment.

[lizarder]

That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.

We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.

At this time maybe many people no longer have mandatory savings standards that must be applied, especially for some people who are familiar with the term bitcoin investment and most people now allocate more of their money for investment. A person's financial capabilities are indeed different, therefore the standard of savings can be different for each individual, but savings should not be neglected to prepare for urgent needs.

If someone says it's better to allocate for investment and sell these assets if needed, then what if bitcoin experiences a severe correction and at the same time we need money, will we sacrifice bitcoin to cover that need?

>Snip
This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.

If we have savings, then our family life will be much more secure. There are times when everyone experiences the worst moments in their life, when facing natural disasters, accidents and health, this is where the role of savings can be used. Savings can also be used when bitcoin conditions experience a severe correction, because the money can be used to buy them.

The most important thing is that savings are made consistently, even if the value is small and should always be on hand just in case. Like the saying that we often hear from ancient people "Saving is a source of wealth". Is it true?

[gunhell16]

Saving or setting aside 1/3 of income per month can be said to be easy if the person who will do it has 100 percent discipline in himself and has a good inspiration to do it.

And we should also know how to handle money and only spend what is appropriate to be able to save at least in my opinion. Because without discipline it cannot be done correctly for sure.

[Portgas D]

It is true that saving from a third of the income we get from salary is necessary, but not all humans can or can do that, because the work environment or the surrounding environment also has an effect. And one of them is the matter of prestige in repaying a vehicle, so there is little possibility for that person to be able to set aside his income.

[Raflesia]

It is true that saving from a third of the income we get from salary is necessary, but not all humans can or can do that, because the work environment or the surrounding environment also has an effect. And one of them is the matter of prestige in repaying a vehicle, so there is little possibility for that person to be able to set aside his income.

This is what makes it difficult for us to develop because indeed when your prestige exceeds the clear income conditions it will be a little difficult.
I think when that happens there are a number of things that need to be done, such as not being too pushy where we are unable to carry it. Thinking further is also very important because indeed we will not be able to develop as long as the prestige is there. If it is necessary, I think you have to limit your association a little. Not meant to be divisive, but in the end you personally feel that whether it is positive or negative.

[Fredomago]

When you are a breadwinner then it would really be that hard for you to save up and we are on the same situation on which you could hardly even ending up on having a savings or extra money just because there's something that you do need to spend up or shall we say its part of expenses which it would really be just normal that you should prioritize them for you to continue even if you dont really have the time on extra money
that you would be saving up.Its not really that hard if you are really that serious on saving up but there are instances which leaves you no choice but to deal with it.
Saving up would really be totally different into each other because we do have different financial situations or capabilities.

The portion of savings can be adjusted according to the ability of the money you have, no need to determine the amount, because the most important thing is to do it regularly and consistently every time you get a salary or when you have other income. Everyone earns a living for his family and this is where the ability to balance expenses and income is most needed, so that everyone can have some money left for savings.

If we are married and have children, but the savings we have are empty, then when unwanted things happen it will have quite an impact on psychology, for example the cost of educating children and family health that cannot be met, so saving and investing are equally important.

That's the very essence of savings, making sure that you have something to get when emergency happens, though for sure most of us here are not in that mindsets since we are aiming for financial freedom when our savings is good enough to start a business, I like the way you describe it, not exactly the entire third part of your earnings but if by chance you can add portions of your money to save that still good enough.

We do have differences in terms of financial obligations and capabilities, but the most common thing is we all want to have a stable or maybe comfortable life in terms of finances. That's why we are all trying to save.

Yes, when we do  talk about savings then it would be mostly used on emergencies and stuffs related to it or when you are really that badly needed with money because if you dont have savings then you would

really be having a hard problem to be solved specially if it does really need up some financial back ups on which savings would be really in rescue or else then you would be ending up on getting up some loan.

This is why you should really obliged yourself on having some savings because it wont really be just for emergency times but also for some investment too if ever
you do see some opportunities.

That principle will give you some breathing when something happen unexpectedly, you need to always look ahead of time and make sure that you save something either for your security or also for emergency cases that you need to spend money. Though it's good to prepare yourself to start business or do some investment to grow those save money and allow yourself being financially capable if time comes for your retirement.

[Inspiron14]

Saving or setting aside 1/3 of income per month can be said to be easy if the person who will do it has 100 percent discipline in himself and has a good inspiration to do it.

And we should also know how to handle money and only spend what is appropriate to be able to save at least in my opinion. Because without discipline it cannot be done correctly for sure.

I think it only applies easily if they have a steady income although it does require intention as well,
actually saving can be done by everyone and it's just a matter of how we adjust it,
indeed discipline is the main key and that is why it is not easy to apply it.

[Davian144]

It is true that saving from a third of the income we get from salary is necessary, but not all humans can or can do that, because the work environment or the surrounding environment also has an effect. And one of them is the matter of prestige in repaying a vehicle, so there is little possibility for that person to be able to set aside his income.

This means that the problem lies in the person's prestige and in the person's inability to stem the influence of the surrounding environment. Because a successful person forms his own mindset and is able to withstand influences from the environment that may not be good for him, he is a very extraordinary person, so he never has any prestige to do anything that can bring good benefits to himself.

Because there won't be any change if he still has prestige and can't adapt himself to the environment and stay away from things that might be bad for himself. So in essence there are still things that some people need to change if they want to save some of their salary for a better future, because no one else thinks about it except themselves.

[lizarder]

That principle will give you some breathing when something happen unexpectedly, you need to always look ahead of time and make sure that you save something either for your security or also for emergency cases that you need to spend money. Though it's good to prepare yourself to start business or do some investment to grow those save money and allow yourself being financially capable if time comes for your retirement.

What makes it difficult for people to save is because their income is small or unstable, because there are several routine expenses that must be met every day, one of which is clothing and food. The alternative that can be done is to use the 50-30-20 pattern, this pattern we often hear and I have practiced it in everyday life. For example, use 50 percent for basic needs from a fixed income/salary, 30 percent for daily needs, the remaining 20 percent can be used for savings and investments.

This pattern is carried out if the fixed income/salary that we earn is still relatively small, then someone must be able to find a way if they want to save. The point is that someone must be able to manage their financial resources carefully and measurably, so that fulfillment of savings is carried out as a preparatory step if something unexpected happens, at least we have options if it happens suddenly.

[smile1218]

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 ?

Saving one third on what we earn on a monthly basis could be possible. It depends on location, standard cost of living, how high the salary is, the expected monthly expenses of your family. But most definitely a single person can do it because he/she would think of themselves only and they could even save a lot. But if you have a family with your wife and children who are studying it would be harder to save that one third because of the arising expenses, food, utilities, monthly house rent or amortization, car loans, tuition fees, etc. It is hard to budget if you have a family that is why it is hard for others to save one third of their salaries. So while still young and have no family try to save as much as you can for a better and comfortable future.

[GigaBit]

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 ?

The way you made a nice list of expenses is definitely promising. I think if a person earns $3000 and can manage his expenses in that way then he can make a good investment amount of money. You have done such a calculation for a single person but what about a condition of married person? The amount of money can increase significantly. But there is nothing specifically to say because the amount of expenditure will not be same in all places. There are many people who are unable to save even after earning $3000 and many are able to save a large sum of money by earning $1500. I think saving totally depends on a person's desire. If someone truly wants to save his money it is possible even after low income.