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This actually works even better than you think. My father explained to me once: 'Earning an extra $100, you have to pay half[0] to the government. Saving an ext
by mabbo 10y ago
This actually works even better than you think. My father explained to me once: 'Earning an extra $100, you have to pay half[0] to the government. Saving an extra $100, you get to keep all of it.'
Still, I'm a pretty dull guy, don't spend much, and have most of my savings in order. My goal is mainly to see if there's easy ways to better use the time I currently waste on video games, use my craft to make some money.
[0] I'm in the 47% tax bracket (Canada), so any extra income is hit at that rate, if I'm not dumping it into a tax-deferred account, which I totally would be.
- ajeet_dhaliwal 10y agoYou've already paid the tax on the amount you are saving.
- mabbo 10y agoYes, but $100 feels like $100. It feels equivalent, but it's not. Saving $100 is worth a lot more than earning $100, is the point.