How I save 60% of my income
Today we will discuss the 2 steps that I took to increase my savings rate:
Step #1 - Increase income:
Saving 60% of $20,000 per year would leave you with $8,000 for expenses... nearly impossible.
Saving 60% of $200,000 per year leaves you with $80,000 to cover expenses. Increasing income is one of the first steps needed to save a large portion of your income.
Step #2 - Cut Expenses
Focus on the big three:
- Housing
- Food
- Transportation
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only.
Step #1 - Increase income:
Saving 60% of $20,000 per year would leave you with $8,000 for expenses... nearly impossible.
Saving 60% of $200,000 per year leaves you with $80,000 to cover expenses. Increasing income is one of the first steps needed to save a large portion of your income.
Step #2 - Cut Expenses
Focus on the big three:
- Housing
- Food
- Transportation
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only.
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