Topic: Saving one third what you earn monthly is not that hard, isn't it ? - page 17. (Read 3349 times)
December 18, 2022, 06:50:01 AM
If I can earn that level of income, I will be more likely to save as you suggest. That's a huge amount of money in my country, very few people can achieve, and that's also the level of income I aim for. I hope I will get it soon next year and I will have a better investment plan when the income is 3k$ per month. I will focus on bitcoin as much as I can.
December 18, 2022, 03:01:59 AM
~snipped~
Our expenses should also be aligned to our monthly income and if the expenses are too much it will be hard for you to save some money. December 18, 2022, 02:12:07 AM
Once we know that the economy is getting more difficult in the future, then it's time for us to change our mindset, if previously we left 10% of our salary for investment then from now on we should be able to leave 10% for needs and the rest for investment, because with investment we can hope to get a large profit so that when it is not productive then we have no regrets.
December 18, 2022, 12:35:35 AM
Unfortunately, not everyone has that much income from work, the average resident in my area earns $ 256 from work, this is still somewhat difficult or not comparable to what you describe, $ 3000 income is usually obtained by government officials with incentives and incentives and entrepreneurs who have has a sizeable market capitulation, of course, this is not easy for every resident in my area who relies on his job.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
It in fact, matters a whole lot on how much your income is in order to have some savings kept aside. With some extremely low income earners, they just can’t afford to save as they earn so little and would be obviously living hand to mouth.
If you could save some funds from your income after tax and expenses, that’s great for you. There are folks that, after working long hours, barely have enough fulfill their basic needs. How then could they put aside money to save when there isn’t any?
December 18, 2022, 12:07:28 AM
Is this possible based on where you live ?
This of course depends on where you live and what the inflation rate is in your country. There are many countries where a top executive's salary is between $200 to $300 per month. And the cost of goods in that country is so high that all the money is exhausted to provide him with food and clothing. There is how a person will comply with your calculations. And how he can save some of his one third money 
December 17, 2022, 11:56:05 PM
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 ?
Why not, someone who can organize good financial management is very likely to leave $ 1,000 of a real income of $ 3,000 every month. The $3,000 can be split in three parts,
1. $1,000 for savings/investment as cold money.
2. $ 1,500 for personal needs in a month.
3. $500 for other contingencies.
With an income of $3,000 you can already enjoy a decent life and can still be saved as detailed above. Never improve your lifestyle because it will drain the money that has been allocated for savings/investments. Managing financial management properly can make life better and far from debt.
December 17, 2022, 11:29:45 PM
Many people complain because investing is very difficult, most people think that investments such as property, gold and so on require large capital, but we must be smart that currently there are many choices for investment even starting with a small value, cryptocurrencies are the best solution for us which is difficult to invest because we can start with a small value and also we can withdraw at any time.
December 17, 2022, 10:11:51 PM
Yes, I don't know if in developed countries like Europe or the US, an income of 3k$ is called a lot but it is true that for 3rd world countries like my country, it is a huge income. If it was me, in this case, I could save 1k$ to 1.5k$ per month after deducting all daily living expenses, and I am a married person. In the case of unmarried people, if they have a sensible spending plan and have savings goals, they can save a lot more than that.
I have reviewed that many opinions of $3k income include high monthly income and the average person can save for the range of $1-1.5k after deducting all monthly expenses, but if my position is earning $3k monthly then $1k would be very worth to invest to Bitcoin for current prices for each month and we'll look at long term profits for the big news in 2024.Definitely, I too will invest 1k dollars per month in all bitcoin, and only in bitcoin, if I have such a big income. Because in this case, with such a huge income, I will not have to worry too much about the risks I face. If things don't go as expected, such as bitcoin crashing, I can also afford to start over with my earnings. The biggest limitation of people when investing in bitcoin is capital, if this problem is solved, I believe more people will invest in bitcoin.
December 17, 2022, 09:41:43 PM
Unfortunately, not everyone has that much income from work, the average resident in my area earns $ 256 from work, this is still somewhat difficult or not comparable to what you describe, $ 3000 income is usually obtained by government officials with incentives and incentives and entrepreneurs who have has a sizeable market capitulation, of course, this is not easy for every resident in my area who relies on his job.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
It in fact, matters a whole lot on how much your income is in order to have some savings kept aside. With some extremely low income earners, they just can’t afford to save as they earn so little and would be obviously living hand to mouth.
If you could save some funds from your income after tax and expenses, that’s great for you. There are folks that, after working long hours, barely have enough fulfill their basic needs. How then could they put aside money to save when there isn’t any?
December 17, 2022, 09:24:23 PM
Unfortunately, not everyone has that much income from work, the average resident in my area earns $ 256 from work, this is still somewhat difficult or not comparable to what you describe, $ 3000 income is usually obtained by government officials with incentives and incentives and entrepreneurs who have has a sizeable market capitulation, of course, this is not easy for every resident in my area who relies on his job.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
but it's not impossible that I can save a third of my income, if from $ 256 I can save $ 85.3 of the needs that are minimized as investment funds.
In my opinion, it doesn't matter how much your income is, when you can minimize expenses and only prioritize basic needs, there must be money that you can save.
It in fact, matters a whole lot on how much your income is in order to have some savings kept aside. With some extremely low income earners, they just can’t afford to save as they earn so little and would be obviously living hand to mouth.
If you could save some funds from your income after tax and expenses, that’s great for you. There are folks that, after working long hours, barely have enough fulfill their basic needs. How then could they put aside money to save when there isn’t any?
December 17, 2022, 05:45:02 PM
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 ?
Well, personally it's impossible for me to save one per third out of my salary. Since in my place most people didn't have that much salary and the cost of our goods is somewhat high then it's hard to save one per third. But every month I tried to save one per five or one per six as long as there were no emergency needs. It's really important to keep saving our money for emergencies and for investment since investment can give us passive income then we must struggle to get that.
December 17, 2022, 05:22:48 PM
I think what you say is quite inspiring if you really see it from a glance.
But when contemplating a little longer with the realities of life clearly this will be very difficult.
$3000 is definitely a lot of money but I'm pretty sure only 1 in many people make this kind of salary and not everyone can make that kind of salary.
The division is quite real when indeed with a salary of that size so that we are still able to save after meeting our daily needs but we also have to be aware of the reality that sometimes the basic salary that we have is different.
On the other hand, I realize one thing in this case, because usually the bigger the salary, the more needs, so regardless of how much your salary is, your desires will actually be bigger.
Even though it's a good thing to do, I don't think everyone can do this to save money from their salary for several reasons.
But when contemplating a little longer with the realities of life clearly this will be very difficult.
$3000 is definitely a lot of money but I'm pretty sure only 1 in many people make this kind of salary and not everyone can make that kind of salary.
The division is quite real when indeed with a salary of that size so that we are still able to save after meeting our daily needs but we also have to be aware of the reality that sometimes the basic salary that we have is different.
On the other hand, I realize one thing in this case, because usually the bigger the salary, the more needs, so regardless of how much your salary is, your desires will actually be bigger.
Even though it's a good thing to do, I don't think everyone can do this to save money from their salary for several reasons.
December 17, 2022, 05:14:58 PM
in this case it's very easy but we have to remember this is just a supposition 
In essence, this is still a little difficult to do when indeed we cannot have such a high salary in one month.
I personally get a basic monthly salary of only around $ 300-$ 400 per month and this is considered large in the country where I live because the needs are not too big, indeed in this case it can still be done to set aside a little profit for investment, but on the other hand I I think everyone's needs are different, especially if they have family responsibilities, so not everyone can do that because sometimes the salary they get can only support their daily life.
In essence, this is still a little difficult to do when indeed we cannot have such a high salary in one month.
I personally get a basic monthly salary of only around $ 300-$ 400 per month and this is considered large in the country where I live because the needs are not too big, indeed in this case it can still be done to set aside a little profit for investment, but on the other hand I I think everyone's needs are different, especially if they have family responsibilities, so not everyone can do that because sometimes the salary they get can only support their daily life.
December 17, 2022, 04:56:38 PM
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
I wanted to read and leave when I realized the issue was specifically addressed to singles until I saw the rental thing. Let me quickly address that. If hypothetically someone on that salary scale decides to spend as much as what you've mapped out there, they should know they aren't getting it right. Your rentals shouldn't be more than 10% of your earnings. If you earn $3k monthly, it will be ok to limit your rentals to $250 – $300 monthly. Anything above that means living above one's means because other aspects of one's life will suffer it. December 17, 2022, 04:50:10 PM
Yes, I don't know if in developed countries like Europe or the US, an income of 3k$ is called a lot but it is true that for 3rd world countries like my country, it is a huge income. If it was me, in this case, I could save 1k$ to 1.5k$ per month after deducting all daily living expenses, and I am a married person. In the case of unmarried people, if they have a sensible spending plan and have savings goals, they can save a lot more than that.
I have reviewed that many opinions of $3k income include high monthly income and the average person can save for the range of $1-1.5k after deducting all monthly expenses, but if my position is earning $3k monthly then $1k would be very worth to invest to Bitcoin for current prices for each month and we'll look at long term profits for the big news in 2024. 
December 17, 2022, 04:44:55 PM
It's a great idea if we can make it happen, in my opinion, it is very difficult to leave money for investment in the method or system above, there are many temptations to make the plan fail, if you are not married there will be many temptations to do pleasures such as traveling, trying various foods, and another hobby that makes easy money to run out.
You can save that amount easily depending on your lifestyle. If you are living a simple life and you are not an outgoing person who spends money just to mingle with your friends or if you don't have other expenses. But if you are an outgoing person who loves following the trend, then the temptation to spend too much will always exist. You need to focus only on your needs and not on your wants if you want to save bigger.
be minding on having that investment or having that savings for future use.It doesnt mean that if you do live up this way, then you cant really be having a good life or something boring.
You could still live up on what you do wanted but having that restricted in terms of expending your money which i dont really see anything wrong with this.
You could save up some part of your income for future use which is something that you do really need to do rather than on going all in on spending
on everything that you do have in mind.
December 17, 2022, 04:38:39 PM
It's a great idea if we can make it happen, in my opinion, it is very difficult to leave money for investment in the method or system above, there are many temptations to make the plan fail, if you are not married there will be many temptations to do pleasures such as traveling, trying various foods, and another hobby that makes easy money to run out.
You can save that amount easily depending on your lifestyle. If you are living a simple life and you are not an outgoing person who spends money just to mingle with your friends or if you don't have other expenses. But if you are an outgoing person who loves following the trend, then the temptation to spend too much will always exist. You need to focus only on your needs and not on your wants if you want to save bigger.
December 17, 2022, 03:39:34 PM
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
I wanted to read and leave when I realized the issue was specifically addressed to singles until I saw the rental thing. Let me quickly address that. If hypothetically someone on that salary scale decides to spend as much as what you've mapped out there, they should know they aren't getting it right. Your rentals shouldn't be more than 10% of your earnings. If you earn $3k monthly, it will be ok to limit your rentals to $250 – $300 monthly. Anything above that means living above one's means because other aspects of one's life will suffer it. 
December 17, 2022, 03:25:17 PM
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 sounds easy but most people will trap into the lifestyle inflation, so they will be spending what they earn to show others about life style while very few can remain and focus on long term returns over these worthless pride statements. You can save 1000 or even 2000.too which solely depends on how we decide to live no matter how much we earn.
You can save 30% or whatever amount you want to save if you stick with the intention of saving it. Yes due to inflation hike the certain percentage can be missed but some of the financial advisors gave advise for the working class people to have monthly and yearly budget separately. But many will have their monthly budget but they failed to calculate the yearly expenses like insurance, schooling fee or any such expenses which we don't normally spend every month but once or twice in a year.
December 17, 2022, 11:29:34 AM
Since we are going through different circumstances, I think minimizing the ratio OP have mentioned would be a better idea; try atleast 1/4 of your salary or monthly earned money. Take it easy and lightly because not all people here has privilege to do as they want with their earnings. Some are even accountable and responsible to give more than half of their monthly pay out, to their families which makes it hard to save. Especially nowadays wherein the market price of market goods are continuously increasing week after week.
Proper segregation and management of one's money would be the key. Try to atleast plan an amount for a certain bill; electicity, house rent, food, and such). If there will be remaining amount outside your dated bills, you are free to use it on investment or just save it in banks.
The theory for investing with money sharing as above looks easy, but in life of course there are many challenges, I have been working for about 5 years and it is very difficult to leave money for saving, especially for those who are already married and have children, of course it will be difficult, and in my opinion the solution the best is an investment that can produce productively.
You're right but the question is can you invest with a one month salary? Definitely no! You have to save first before you invest in whatever you seems to be profitable for you. The important of savings is not only for investment but also for unexpected challenges. I actually don't know why people always attribute problems to married people and assume singles have less problems. LolJump to: