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I found that most people I know spend their money according to their paycheck. If you don't save money as soon as your paycheck comes in, it'll be gone by the e
by dirktheman 13y ago
I found that most people I know spend their money according to their paycheck. If you don't save money as soon as your paycheck comes in, it'll be gone by the end of the month. No matter hwo much you make.
However, when you've come to the point of finding someone you love and want to spend the rest of your life with, living the frugal student life isn't going to cut it. You'll want to move to a bigger place, have kids (trust me, they're expensive!), need a bigger car, etcetera. For us, this was a conscious choice. We choose to spend money on our house, our kids, holidays, hobbies. We do save quite a lot, but I think there is a nice middle ground between spending next to nothing and living from paycheck to paycheck.
- jlangenauer 13y agoI go one better than this: I have my monthly salary paid directly into my savings account, then I "pay" myself weekly into a current account the amount of money I actually live off. Your savings can accrue surprisingly fast like this.
- dirktheman 13y agoNice! How does that work, though? Do you set budgets for things like food, rent/mortgage, insurances? How do you avoid overspending?
- oinkgrr 13y agoI'm liking that idea. Anything that's not spent builds up nicely in the savings account. It's normal to save a set amount each month and whatever is left you just leave sitting in your current account. But that turns it on it's head, leaving any surplus in the savings account. And paying yourself a budget every week helps you manage the money.