A saving rate of 20% is a good place to be:
Saving rate = Monthly savings/Monthly income X 100
What do you need to give up to get your saving rate to 20%?
Saving rate = Monthly savings/Monthly income X 100
What do you need to give up to get your saving rate to 20%?
Some Caveats:
My Twitter followers are very literate in personal finance mgt.
Their saving rates are amazing because they have learnt financial discipline.
Don't be intimidated if you're just starting out.
Learn to build a saving culture: your future self will thank you.
My Twitter followers are very literate in personal finance mgt.
Their saving rates are amazing because they have learnt financial discipline.
Don't be intimidated if you're just starting out.
Learn to build a saving culture: your future self will thank you.
The realization that you need to increase your saving rate is the first step.
Aim to save 10% next month, then gradually move towards 20%.
Look around you: what do you need to sacrifice to make it happen?
This is the key question:
What do you need to SACRIFICE to save more?
Aim to save 10% next month, then gradually move towards 20%.
Look around you: what do you need to sacrifice to make it happen?
This is the key question:
What do you need to SACRIFICE to save more?
