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

[Litzki1990]

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 ?

A man can never accumulate as much money as he can save without saving. In the area where I live, some relatively poor people save some money as a few members every month for a particular festival. Eevery month they make a rule to save that money, after a year they divide the money equally among all, as a result of which it can be seen that at the end of the year they accumulate a very good amount of savings and the festival they save is very good.
I can observe  That is, I liked their communication medium very much and then I realized that it is possible to accumulate a lot of money by saving. 

In your case also, if you save a part of your monthly salary, it will be seen that after a certain period of time, you will have accumulated a lot of money in your savings account.

[Marcellin9]

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 ?

A man can never accumulate as much money as he can save without saving. In the area where I live, some relatively poor people save some money as a few members every month for a particular festival. Eevery month they make a rule to save that money, after a year they divide the money equally among all, as a result of which it can be seen that at the end of the year they accumulate a very good amount of savings and the festival they save is very good.
I can observe  That is, I liked their communication medium very much and then I realized that it is possible to accumulate a lot of money by saving. 

In your case also, if you save a part of your monthly salary, it will be seen that after a certain period of time, you will have accumulated a lot of money in your savings account.

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts. It just flows so naturally in my life so of course, I have saved a lot of money over the years. What most people don't understand is not the amount of money that one can save, it is the discipline that guides me to save that really makes me feel great. I hope more people will understand what I am talking about.

[Rigon]

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 is applicable to you according to the cost of your country which you have calculated here. If I spend here according to the customs of the country I live in, I will spend only $1500 of the $3000 per month. Now everything is going up in price. Living now has changed a lot compared to the previous life. If everything had not gone up in price, maybe I could have saved $2,000 out of $3,000 based on my country's cost. So I think right now there is not much difference in cost as per your country as well as in my country.

[YinShuiSiYuan]

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 is applicable to you according to the cost of your country which you have calculated here. If I spend here according to the customs of the country I live in, I will spend only $1500 of the $3000 per month. Now everything is going up in price. Living now has changed a lot compared to the previous life. If everything had not gone up in price, maybe I could have saved $2,000 out of $3,000 based on my country's cost. So I think right now there is not much difference in cost as per your country as well as in my country.

That's totally depends on your pay scales your country is offering and the inflation rate in that country  .
Where I live the wages are low and inflation is high so saving is impossible,  you hardly meet your expenses to provide food and basic facilities to your family .

[imamusma]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

[Texac]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

But if we don't have a specific goal, it makes us more lethargic and lazy.  It is better to give a specific number because we will be more disciplined with ourselves to achieve that goal.  you are right that we apply it will make us more stressed in life but that savings will come in handy in your emergency.  i also like to impose a specific number when it comes to saving and investing, which will help me reach my goal quickly rather than dragging on and never completing it.

[og kush420]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

But if we don't have a specific goal, it makes us more lethargic and lazy.  It is better to give a specific number because we will be more disciplined with ourselves to achieve that goal.  you are right that we apply it will make us more stressed in life but that savings will come in handy in your emergency.  i also like to impose a specific number when it comes to saving and investing, which will help me reach my goal quickly rather than dragging on and never completing it.

You are right - life without a goal is a wasted life
I wasted my life not setting a goal - and had been a complete failure
Setting a goal is very important 

[Marcellin9]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

But if we don't have a specific goal, it makes us more lethargic and lazy.  It is better to give a specific number because we will be more disciplined with ourselves to achieve that goal.  you are right that we apply it will make us more stressed in life but that savings will come in handy in your emergency.  i also like to impose a specific number when it comes to saving and investing, which will help me reach my goal quickly rather than dragging on and never completing it.

You are right - life without a goal is a wasted life
I wasted my life not setting a goal - and had been a complete failure
Setting a goal is very important 

Setting a goal is truly important, especially when it comes to goals with responsibility. Take me as an example, before I got married, everything was responsibility-free and to be honest, I did not think much about my life. After my daughter was born, I started changing. I began to set both financial and life goals and then strived to achieve them with all my best. I am thankful that all the goals are like anchors to my life, transforming me to be a better man. Sometimes we have to admit that goals are blessings. It is never too late to set a goal. Please put together and live your life to the most extent. All the best to you, man.

[Mame89]

Setting a goal is truly important, especially when it comes to goals with responsibility. Take me as an example, before I got married, everything was responsibility-free and to be honest, I did not think much about my life. After my daughter was born, I started changing. I began to set both financial and life goals and then strived to achieve them with all my best. I am thankful that all the goals are like anchors to my life, transforming me to be a better man. Sometimes we have to admit that goals are blessings. It is never too late to set a goal. Please put together and live your life to the most extent. All the best to you, man.

Financial planning is the basic preparation for our future life. if we realize again the value of money in the past will not be the same as now, there are many reasons for not starting financial planning, usually the classic reason that is most often found is not knowing the knowledge and having no capital but nowadays there are still reasons not to be able to learn, it should be with the use of technology those who have access to self-education on financial planning topics are easily available and don't forget that the most important thing is willingness.

If you think about it, it's a shame if you haven't started yet, because starting is really simple, realize and calculate various needs in the future as well as your current financial condition, don't forget to routinely check the allocation of expenses and financial income every month according to the determined posts. Are the expenses more than our income? Are there debts? Are the funds we spend in accordance with what we have, usually we are not aware of the separation of wants and needs.

In fact, if only we were aware of the existing income, we would immediately set it aside for saving or investing before moving on to other posts. This is called the pay yourself strategy so that when we are preparing for our children's education costs and we are aware of inflation, we can make preparations earlier so we can be better prepared to face future needs. In essence, we must have Budget Rules:
- 50% Family Monthly Consumption;
- 30% investment
- 20% savings

[Patrol69]

I think it would be very difficult from everyone's point of view because we all have different income systems. For many, it is difficult for many people to live with their family for a month with their salary. But those whose monthly income is relatively higher can save one-third of their income if they want. 

In the context of our country, if it is said that a person whose monthly income is 300 dollars, then that person can save 100 dollars at the end of the month, but with 200 dollars, he can get through a month roughly, but if he continues fully, 300 dollars will be less for him. It is possible to save one-third of the monthly income if it is limited.

[AicecreaME]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

If you really wanted to save money from any amount of salary, do it after you budget your salary, always prioritize the budget for rent, food, water, electricity, etc. and the amount of money that's gonna left, save it. Some people failed to save any amount of money because they don't know their priorities, or does a lot of overspending it to anything they want, which is very irresponsible as an adult.

[DrBeer]

Thanks for your kind reply. Well, I’ve also traveled almost all continents and do share your view on poverty. Poverty is indeed a global issue faced by all governments and their citizens but the worse part is that the gap between the rich and poor deepens the poverty issue. In many countries, the rich and ultra-rich people enjoy an insanely lavish lifestyle while the poor are barely having food on table. We always picture a nation using its bright and prosperous image but how about those poor and dark sides ? The more I travel, the more I cherish my own life. As an individual, I can do nothing with eliminating poverty but will try my best to help those who are less fortunate as much as I can.

Nice to keep up the conversation with you, thanks
I'm talking about super wealth, and poverty now I'll say more. The topic is not very pleasant, but it is a reality.

We can discard the SUPER-RICH, of which there are conditionally thousands on earth. By the way, many of them donate HUGE funds for many humanitarian programs, assistance to the same developing countries and poor regions.

Let's talk about the "medians" of our lives - the middle class, the poor, and the very poor.
The middle class, according to my observations, in most cases these are people who were able to "arrange" and "find themselves in life." This is the result of their WORK. And I know a lot of examples when they came from either low-income or even poor families.
The second part is the poor/low-income people. There is a layer of people, I would say this - those who are not used to straining a lot, who are tripled by their standard of living (as, for example, they lived in the USSR with the idea - nothing is poor, but stable). People-losers, people "rolled down" from the middle class. People who talk more about what they want than actually do to achieve what they want.
The third is the poor. This is the saddest group ever. They became so for many reasons, but as a rule, the main ones are: class division in the country / nation, victims of religious "traditions", residents of countries where totalitarian rulers are either ruled by religious fanatics, or where the head of the country for many decades is simply deeply corrupt power. Other reasons are already fractions of a percent of the reasons. And the biggest problem is that the last 2 levels are the reasons, in general, the people themselves. They do not want to strain, they choose the power of thieves or totalitarian rulers, they do not want to learn, think and develop, but they just want help to be brought to them .... And no matter how much the middle class and the super-rich allocate money to meet the needs of the poorest and low-income, the will only increase the scale of the requirements. It does not look very humane, but such is human nature.
For example, I said for a long time - instead of "humanitarian missions" and constant "feeding" people - build factories for them, train them - let them earn their own living.
This concept is more correct and not nearly more costly than simple "content". Plus, it is closer to "biblical" models - it's better not to feed the little man by giving him fish, but to teach him how to make a fishing rod and fish, so that he can constantly get his own fish!

[Texac]

Saving is part of my life and I have never seen it as an impossible task that needs to be done with efforts.

It should be good for you if you have multiple sources of income, but I don't know if you need to maintain a percentage of that amount each month. Even if saving is recommended, but I don't think it's necessary to have a special percentage in doing so and just do how many you can save.

If you insist on saving a certain amount each month then you may run into problems when your source of income dries up for one reason or another. This will definitely give you a lot of responsibility so that you can or should reduce your daily and monthly needs to get the percentage that you set. You can do it, but your method cannot adopted for other users.

But if we don't have a specific goal, it makes us more lethargic and lazy.  It is better to give a specific number because we will be more disciplined with ourselves to achieve that goal.  you are right that we apply it will make us more stressed in life but that savings will come in handy in your emergency.  i also like to impose a specific number when it comes to saving and investing, which will help me reach my goal quickly rather than dragging on and never completing it.

You are right - life without a goal is a wasted life
I wasted my life not setting a goal - and had been a complete failure
Setting a goal is very important 

Setting a goal is truly important, especially when it comes to goals with responsibility. Take me as an example, before I got married, everything was responsibility-free and to be honest, I did not think much about my life. After my daughter was born, I started changing. I began to set both financial and life goals and then strived to achieve them with all my best. I am thankful that all the goals are like anchors to my life, transforming me to be a better man. Sometimes we have to admit that goals are blessings. It is never too late to set a goal. Please put together and live your life to the most extent. All the best to you, man.

I'm like you in this, I think we men just set goals and start taking on more responsibilities when we get married and have kids.  before getting married, I had no specific direction or goal for my life. but when I have a family and especially children, making money, setting a goal, and trying to achieve it every day keeps hovering in my head until it's done. it can be said that men's goals actually become clearer when they have a strong motivation.

[Vishnu.Reang]

It's rely on how your living standard is. How much you save and spend its totally depend on your income and yes your determination towards savings also does matter. I have seen many people who is earning well at that moment they just spend money on party, buying expensive things and specially in showoff at the same time I have seen a person who is earning less still they are able to do save. Most of the successful people they use to adopt the habit of tracking their expenditure. This tracking method is very use full and you will be able to avoid unwanted expenditure.

[Sithara007]

It's rely on how your living standard is. How much you save and spend its totally depend on your income and yes your determination towards savings also does matter. I have seen many people who is earning well at that moment they just spend money on party, buying expensive things and specially in showoff at the same time I have seen a person who is earning less still they are able to do save. Most of the successful people they use to adopt the habit of tracking their expenditure. This tracking method is very use full and you will be able to avoid unwanted expenditure.

Depends on how much the individual need to spend every month to balance his budget. If a person is earning more than someone else, that doesn't mean that he will automatically be having more money in the form of savings. For example, someone earning $200 per month working from his hometown will be able to save more than someone who earn $400 per month working from another location. Because net expenses will be low (no rent, less travel expenses and utility bills.etc). But I agree on the last part. Tracking down the expenses can be very helpful to manage your spending. I have been doing this for the last 11 years.

[philipma1957]

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.

yeah.

basic 1 bedroom apartment in new york city is 2400-2800.

so 3000 take home does not work well.

even if you share the room with a lover and each make 3k you have 6k

6k- 2600= 3400 . two phones say 50

3350
  450 subway
2900
1000 food
1900. so at this point you are only saving 950 each
  300 cable/tv/internet
1600
  200 laundry as you have to use a laundromat
1400. down to saving 700 each.

if you have a ton of sex with your lover/roommate it saves money

you have to buy clothes
200
1200 may be possible if you take home 6000 as two lovers sharing an apartment

100 off for power bill
so 1100 a month as a team.

[irhact]

I think it would be very difficult from everyone's point of view because we all have different income systems. For many, it is difficult for many people to live with their family for a month with their salary. But those whose monthly income is relatively higher can save one-third of their income if they want. 

It doesn't matter how high your salary is, if you can't save when you're making smaller salaries, you'll find it difficult to save when you're making high salaries because expenses doesn't reduced with your increased salary instead your expenses will increase as well. You'll want to live alone, in a good neighborhood and drive a nicer car etc so expenses will always increase.

Saving is a mindset and when you don't develop that mindset from the very beginning, it'll be very difficult for you to develop that habit when you have more expenses and expensive lifestyle to keep up to. Always learn to save for investment when you have little income too.

[bakasabo]

Indeed being able to save is a state of mind, because the more you earn, the more possibilities to spend opens. Sometimes people with small salaries manage to fly on vacation and buy expensive stuff. Maybe they wont save third part of their monthly salary, but definitely they save something each month.

I have been working for many years, and I remember only few cases when I managed to spend more than I have earned. These were emergency situations with health issues, when I had to act quick and borrow money. In every other case I save, but sometimes make large spends on vacation, flat renovation, transport purchase. Such things does not happen every month, they are planned before. So yes, saving each months aint that hard.

[BRINIRHA]

I think it would be very difficult from everyone's point of view because we all have different income systems. For many, it is difficult for many people to live with their family for a month with their salary. But those whose monthly income is relatively higher can save one-third of their income if they want. 

In the context of our country, if it is said that a person whose monthly income is 300 dollars, then that person can save 100 dollars at the end of the month, but with 200 dollars, he can get through a month roughly, but if he continues fully, 300 dollars will be less for him. It is possible to save one-third of the monthly income if it is limited.

Well it all really depends on where we live and how the economic situation in that country. In some developing countries it will indeed be very difficult to set aside a third of the income generated each month. Because even I feel that the minimum wage in my area is too low when compared to the prices of basic commodities that are getting higher at the moment.

Even the minimum wage in my country is probably just enough for someone living alone. But if someone already has a family (husband/wife/children) then the minimum wage in my country will probably only be enough to meet the needs of about 2-3 weeks. So many people around me also choose to reduce their rest time and use it for side jobs to generate side income.

But for someone who comes from a farming family. which has lots of rice fields and fields that make a person not worry about food. then the minimum wage he receives from work will definitely be enough and he can save half of it. but not many come from farming families these days.

[Sithara007]

Indeed being able to save is a state of mind, because the more you earn, the more possibilities to spend opens. Sometimes people with small salaries manage to fly on vacation and buy expensive stuff. Maybe they wont save third part of their monthly salary, but definitely they save something each month.

I have been working for many years, and I remember only few cases when I managed to spend more than I have earned. These were emergency situations with health issues, when I had to act quick and borrow money. In every other case I save, but sometimes make large spends on vacation, flat renovation, transport purchase. Such things does not happen every month, they are planned before. So yes, saving each months aint that hard.

People with small salary will be able to save more and spend more, in cases where their expenses are less. On the other hand, I have seen some of the high earners struggling to balance their monthly budget, because of sky-rocketing medical expenses and home loan EMIs. So different people may have different ways to deal with it. And also, it need to be seen whether saving money is a good idea with the current inflation rates touching two digits. Stock markets and bank deposits now offer returns considerably lower than the inflation rate.