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

[southerngentuk]

Your ability to save money depends on your personal income, expenses, and living expenses. You must assess your financial situation for yourself and find a balance between earning extra money, managing expenses, and saving for the future. Maybe you should budget carefully, prioritize your financial goals, and make conscious spending decisions that can work toward increasing your savings. So aim to change sustainable financial planning habits and make progress toward your personal goals, regardless of the specific amount of savings.

[Fortify]

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 can actually be quite hard because it's very easy to spend your free cash on living a fun life and it shouldn't be looked down upon. You really have to find the right balance, because while it is good to save and invest - you can quickly lose all the best years of your life living like a hermit. It's better to spend some money on travel or other toys that might help to broaden your mind. For some people a quarter might be all they can put aside each month, if you have a much larger income you might only spend 10% and can save the remaining 90%. The age you are at can make a huge deciding factor as well, because when you are younger you have more time to recover from mistakes than accidentally losing everything just before retirement.

[Andrija Branislav]

It's difficult to manage finances, especially since the value of expenses is higher than income. In this case I am always grateful that I still have a monthly income and for the feasibility of saving I usually divide it into a third of the monthly income even though financial goals and priorities can vary from person to person. The important point here is that I think it's important to evaluate your own spending habits and adjust your estimates accordingly. One more thing, we live in a society, of course, we must also set aside for community social activities and other public emergencies.

[Falconer]

Your ability to save money depends on your personal income, expenses, and living expenses. You must assess your financial situation for yourself and find a balance between earning extra money, managing expenses, and saving for the future. Maybe you should budget carefully, prioritize your financial goals, and make conscious spending decisions that can work toward increasing your savings. So aim to change sustainable financial planning habits and make progress toward your personal goals, regardless of the specific amount of savings.

I don't think saving should be forced, meaning it should be as natural as possible without disturbing one or two of your other needs. I agree with your opinion that saving plan depends on income and expenses, but of course saving must be planned.

I don't know how someone can save 35% of their salary every month when they only have $200 in salary every month. Inflation has made it difficult for many workers to save money, of course that's because the prices of all basic commodities have increased and have not been normal until now. Even I will also be grateful if I manage to save 5% - 10% of my income every month instead of 35%, it's too hard to do right now.

[mm2543363580]

The feasibility of saving $1,000 per month based on the income and expenses you provided can vary depending on several factors, including the cost of living in the specific area where you reside. While it's challenging to provide a definitive answer without knowing the location, I can offer some general insights.
The cost of rental accommodation can vary significantly depending on the city or region. In some high-cost areas, it might be difficult to find a rental option within the $500 to $800 range for a guest bedroom in a shared house or apartment. Similarly, the cost of food can vary based on your eating habits and the cost of groceries in your area.

we must not waste money on buying unnecessary stuff - we can save money by not wasting money on hoteling, unnecessay clothing, Bag, shoes and vice versa.
this can also help saving so much money.

[Obari]

Is this possible based on where you live ?

It is always easier said than done and I love the fact that you stated that this can be possible depending on ones location  and one thing you should know is that the higher your earnings,  the bigger your responsibilities become and what makes a man is how much of his responsibilities he can carter for.

While reading  the op, I noticed you didn't even give any allocation to unbudgetted expenses which are most times inevitable and you should know that life dont always go as we planned and what I simply do is accept life the way it comes without having to push  so hard to earn things.

[Fredomago]

Your ability to save money depends on your personal income, expenses, and living expenses. You must assess your financial situation for yourself and find a balance between earning extra money, managing expenses, and saving for the future. Maybe you should budget carefully, prioritize your financial goals, and make conscious spending decisions that can work toward increasing your savings. So aim to change sustainable financial planning habits and make progress toward your personal goals, regardless of the specific amount of savings.

I don't think saving should be forced, meaning it should be as natural as possible without disturbing one or two of your other needs. I agree with your opinion that saving plan depends on income and expenses, but of course saving must be planned.

I don't know how someone can save 35% of their salary every month when they only have $200 in salary every month. Inflation has made it difficult for many workers to save money, of course that's because the prices of all basic commodities have increased and have not been normal until now. Even I will also be grateful if I manage to save 5% - 10% of my income every month instead of 35%, it's too hard to do right now.

Good point. As long as you see that there's progress with how you save your money, that's good enough to continue. There are people who have that strong personality in which they can separate big portions of their salary for savings especially those who are single and don't have that serious responsibilities, exemptions that can allow them to save more compared with regular employee who are struggling to save some even they really intend to save but expenses are really tough to breakout.

[xSkylarx]

Your ability to save money depends on your personal income, expenses, and living expenses. You must assess your financial situation for yourself and find a balance between earning extra money, managing expenses, and saving for the future. Maybe you should budget carefully, prioritize your financial goals, and make conscious spending decisions that can work toward increasing your savings. So aim to change sustainable financial planning habits and make progress toward your personal goals, regardless of the specific amount of savings.

I don't think saving should be forced, meaning it should be as natural as possible without disturbing one or two of your other needs. I agree with your opinion that saving plan depends on income and expenses, but of course saving must be planned.

I don't know how someone can save 35% of their salary every month when they only have $200 in salary every month. Inflation has made it difficult for many workers to save money, of course that's because the prices of all basic commodities have increased and have not been normal until now. Even I will also be grateful if I manage to save 5% - 10% of my income every month instead of 35%, it's too hard to do right now.

Good point. As long as you see that there's progress with how you save your money, that's good enough to continue. There are people who have that strong personality in which they can separate big portions of their salary for savings especially those who are single and don't have that serious responsibilities, exemptions that can allow them to save more compared with regular employee who are struggling to save some even they really intend to save but expenses are really tough to breakout.

I really idolize this people that know how to budget and save because mostly by the end of the year they tend to see howmuch they save or a couple of years goes by they will check how much they save and buy a car from it or the stuff they want too. I do really have hard time to save mostly if it takes time because there are really time that i needed to use it so once that time comes I use it and i will be starting again from the start.

[BRINIRHA]

Your ability to save money depends on your personal income, expenses, and living expenses. You must assess your financial situation for yourself and find a balance between earning extra money, managing expenses, and saving for the future. Maybe you should budget carefully, prioritize your financial goals, and make conscious spending decisions that can work toward increasing your savings. So aim to change sustainable financial planning habits and make progress toward your personal goals, regardless of the specific amount of savings.

The first thing to do is try to make our main income more stable. and trying to find additional income if we still have free time after completing the main job. And when we already have a stable main income and added additional income from side jobs. Then setting aside money to save and invest will become easier. Then the main point is how to make money stably. And spend it more effectively with measurable management. this is where good financial management is needed to achieve this goal. And sometimes we need motivation so we can focus more on our goals. And if our income is not stable, of course setting aside money for saving and investing is not easy. Even financial management will sometimes be difficult to do when our income is not stable.

[Wong Gendheng]

Saving is indeed a thing we have to do to get income and of course financial security, but I prefer investing in cryptocurrencies because of the potential price increase that can reach 100% or more in a year, of course also at risk as I experienced in 2021 I bought Bitcoin in The price of $ 54k then sells at the price of $ 38k after almost 7 months or losses.

[BobK71]

Although people have limitations in earning money, there is no obligation to spend. Saving money after all household expenses is a difficult task. Those who save will have better knowledge to this. But there are many people who focus on saving at least a little. In reality, people's income has no value without savings. Because when you finish your career and retire, you will be disappointed if you don't have any savings. So it is important to create a saving attitude in a person as much as possible.

[rhodelmabanal]

It is not hard to those who has a permanent work with a permanent income, but to those who didn't have fix income it is hard to save money, sometimes we need to buy our basic needs than saving because we need to be healthy and we need to focus on working for our needs than to save, we can save but only a minimal amount because there are a lot of needs.

[AnonBitCoiner]

this is because of the inflation. i remember before that minimum salary is enough to us and there are some extra on it as we can still eat on restaurant but right now even in grocery it isn't enough and you still need to find side jobs that is why right now in a family mostly both wife and husband will work and there are still side hustle so that they can still provide to their children. This is really because of the prices of everything because if it is low then it is okay but again prices are increasing but our salary just stays stagnant 

Actually everything is so expensive these days that a single salary is not enough to manage uses so in these situations earning is important and every individual of a family should earn.

Parents can live a simple life but they have to earn extra amount to provide every opportunity to their children to have a prosperous future therefore both mother and father works together these days as salary of a single person is not in a maximum amount.

If owner enhances the salaries so the substances use in daily life also become elevated in price therefore it become hard to improve the quality of life in such condition of inflation.

[og kush420]

The feasibility of saving $1,000 per month based on the income and expenses you provided can vary depending on several factors, including the cost of living in the specific area where you reside. While it's challenging to provide a definitive answer without knowing the location, I can offer some general insights.
The cost of rental accommodation can vary significantly depending on the city or region. In some high-cost areas, it might be difficult to find a rental option within the $500 to $800 range for a guest bedroom in a shared house or apartment. Similarly, the cost of food can vary based on your eating habits and the cost of groceries in your area.

less is more - people are now becoming more minimilist and they are finding ways to earn news ways to live contentented in less money less hoteling and outing would help saving a lot of money

[stomachgrowls]

The feasibility of saving $1,000 per month based on the income and expenses you provided can vary depending on several factors, including the cost of living in the specific area where you reside. While it's challenging to provide a definitive answer without knowing the location, I can offer some general insights.
The cost of rental accommodation can vary significantly depending on the city or region. In some high-cost areas, it might be difficult to find a rental option within the $500 to $800 range for a guest bedroom in a shared house or apartment. Similarly, the cost of food can vary based on your eating habits and the cost of groceries in your area.

less is more - people are now becoming more minimilist and they are finding ways to earn news ways to live contentented in less money less hoteling and outing would help saving a lot of money

Or simply live with your means and not by your wants on which on this kind of state on where you could really be able to save up more or lessening up your expenses on which you could really be able to not to spend

that much.We know that it isnt really bad to take it for sometimes but if its really that needed but if you  do really find it for it to be not to that compulsory then its better to avoid it or not to do it at all.
Saving up a portion of your salary is indeed challenging specially if you are really that someone who does have a family and which you would really be needing that lots of budgeting and partition or allocation of your
salary which would be sliced up on your expenses and on whatever important things which it would leave us out on having nothing left into that salary or paycheck on which it would really be
causing that kind of situation where you dont have any savings.

This is actually situational though because not all would really be into this condition but as much as possible, we should really be that sensible in speaking about savings up because this would really be that an
important thing not only just for emergency purposes but also for investment ones too.

[hannahB4]

Being single or young doesn't mean one doesn't have a responsibility to one's family or society, for me, I will prefer one-fifth of the income, though there are times you task yourself with meeting a target and you won't miss it. Saving one-third is hard for anyone who has been underpaid already but nothing is impossible.

[xSkylarx]

this is because of the inflation. i remember before that minimum salary is enough to us and there are some extra on it as we can still eat on restaurant but right now even in grocery it isn't enough and you still need to find side jobs that is why right now in a family mostly both wife and husband will work and there are still side hustle so that they can still provide to their children. This is really because of the prices of everything because if it is low then it is okay but again prices are increasing but our salary just stays stagnant 

Actually everything is so expensive these days that a single salary is not enough to manage uses so in these situations earning is important and every individual of a family should earn.

Parents can live a simple life but they have to earn extra amount to provide every opportunity to their children to have a prosperous future therefore both mother and father works together these days as salary of a single person is not in a maximum amount.

If owner enhances the salaries so the substances use in daily life also become elevated in price therefore it become hard to improve the quality of life in such condition of inflation.

The problem with both mothers and fathers going to work is that their children need love or care because both parents are too busy at work, and they will not notice that even though they give the child all the stuff they need, the child still wants to go play with their parents. That is why, right now, I do have a family, and I always refrain from working with my wife as she should be taking care of the child. It is okay for me that I am the only one sacrificing for their own good.

[Doan Ha]

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 ?

This is a very real question, in the area where I live, my expenses are greater than my income. And there are many unexpected things happening. It is a satisfying state of mind to be able to achieve a balance of income and expenditure every month.

[Betwrong]

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's not possible where I live because $800 per month is considered a very good salary here, so saving $1k is out of question. But I think I can contemplate the possibility of saving 30% of your income. It's impossible in my opinion. It's too much. And those guys earning $3k per month, I'm sure they are living in places where everything, food, electricity, medical care and stuff, everything is more expensive there, so, they couldn't afford saving that much.

[DrBeer]

The topic is interesting and necessary - the formation of a financial cushion / reserves for the implementation of some plans.
And the model is not bad. Although I would add as one of the mechanisms of achievement - this is the rejection of bad habits and unnecessary purchases.

But what I do not agree with is to evaluate in a specific amount, for example, dollars. Different countries have completely different living conditions. And somewhere 3000 dollars a month is a small salary, in other countries it is an unattainable amount.
Therefore, the correct estimate is the percentage of income, and probably some coefficient, linked to the average acceptable level of income in the country. Then you get a realistically calculated level of monthly deductions to achieve some goal. And comparing $ 300 for the Congo and Switzerland, for example, is a useless topic.