Focus on percentage of income saved, not the dollar amount - Deepstash
Focus on percentage of income saved, not the dollar amount

Focus on percentage of income saved, not the dollar amount

Over the long term, it's not as much about the dollar amount you save, but the percentage of your income that you dedicate to saving and investing. By focusing on percentages, you can ensure you're always saving more as you earn more. 

413

1.44K reads

CURATED FROM

IDEAS CURATED BY

val_q

"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." ~ Warren Buffett

The idea is part of this collection:

Handling Difficult People

Learn more about moneyandinvestments with this collection

How to communicate effectively with difficult people

How to handle conflict

How to stay calm under pressure

Related collections

Similar ideas to Focus on percentage of income saved, not the dollar amount

The habit of saving more

The key to the habit of saving is to save a bigger percentage the more you earn. When you start, you may only be able to save 10% of your income, but it is a mistake to commit to the same amount if you earn more.

However, it's a losing game to only focus on saving money. L...

Take the path of most resistance

“There is no failure except in no longer trying.” - Chris Bradford

Every second you're making a choice. It's a hidden choice to live your best life or live a life of mediocracy. 

The best life is doing things over short-term pleasure or just taking the path of more pleasure. However, ...

5 golden rules of investing

5 golden rules of investing

  1. The greater return you want, the more risk you'll usually have to accept.
  2. Diversify as much as you can to lower your risk exposure, ie, invest in different companies, industries and regions.
  3. If you're saving over the short term, it's wise not to take too much of a r...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates