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Although you might not need it right now, take it from someone who does: Financial planning is an extremely useful habit. It is an enormous freedom to know wh
by Gud 3y ago
Although you might not need it right now, take it from someone who does:
Financial planning is an extremely useful habit.
It is an enormous freedom to know what I spend my money on, what I can cut back, and how much I can spend per day after all my bills are paid.
- screye 3y agoAgreed. I have a slightly different model for financial planning. I plan around macros instead of micros. I'm a scatter brained person, so Type-A systems don't work as well for me. I don't have a family, so there are only a few numbers I need to remember. Those are the numbers I plan around. Costs = rent + car + food + subscriptions. So I live with roommates, take public transportation, try to cook at home, generally avoid alcohol and stick to ($$) 2 dollar sign level restaurants. I don't really track anything, but make sure that I live within the sandbox I have defined for myself. Similarly, I have kept my investing strategy simple. Max out 401k + HSA immediately (ESPP if avilable) & never withdraw your stock vest (I do rebalance). That way I guarantee pretty hefty lower bound on my annual savings. Soon, I will be unable to count my major investments & spends on my fingers. At that point, I will absolutely be taking your advice.