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Can you save 40% of your salary and still live comfortably?

avatar of @cryptothesis
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Cryptothesis
2 min read

I learned something today from a friend today.

It is about paying yourself first after getting your salary.

Indeed, I have never thought much about how much to save and it does seem like a pretty hard question. Then I always ended up just spending first and then seeing how much is left to save. :(

My friend popped an interesting question: Can you save 40% of your salary and still live comfortably?

Wow! Just wow!

I probably can't.

So she asked. What if your salary increased to a point that you can save 40% and still live comfortably?

Ok, I got it. As the salary increase, that 40% will also increase proportionally, but the remaining 60% would be greater than before the salary increase too.

I need to find a way to increase my salary. If that is not possible, then I need to find other streams of income. Push it up to a level such that I can save 40% of it and still be comfortable with it.

But here the true lesson is in fact this: Don't start splurging when the income increase! :)

P/S: This is not financial advice, and please do your own due diligence before investing.

If you read this far... and if you are a like-minded Hiver who is on the path to learning more about Hive and crypto investing, and if you like to be tagged when I write such posts, I welcome you to leave a comment below and let me know. We can form an alliance to support each other's growth.

You might be interested in this post, @jacoalberts and @youngkedar98!

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