When you can't save that much
If you cant save 20 percent, you are not a failure. While everyone should aim for 20 percent, not everyone will hit the target on their first try.
Start small. Start with 1 percent. Slowly increase. Aim for higher, but if it leaves you stressed, scale back. However, keep the 20 percent goal in mind. When you get a raise, increase your saving rate.
832
3.62K reads
CURATED FROM
IDEAS CURATED BY
The idea is part of this collection:
Learn more about moneyandinvestments with this collection
Identifying the skills needed for the future
Developing a growth mindset
Creating a culture of continuous learning
Related collections
Similar ideas to When you can't save that much
How much you should save every month
The popular 50/30/20 rule states that you should reserve 50 percent of your budget for essentials like rent and food, 30 percent for discretionary spending, and 20 percent for savings.
But it's not that simple. If you're a high earner, you'd be wise to save a larger percentage of your inco...
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.
I agree to receive email updates