Semi-OT: Earning VS Saving money

What is more important, earning more money, or being able to save the
money that you make (and by save, I mean to not spend it!!)

Re: Semi-OT: Earning VS Saving money

saving the money one already earns... 10-15% is the guideline I use

Re: Semi-OT: Earning VS Saving money

"The Space Boss" <> wrote in message
news:
> What is more important, earning more money, or being able to save the
> money that you make (and by save, I mean to not spend it!!)

Definitely *saving*.

Unfortunately, for most folks, earning more
translates directly into spending more -- so
you don't get ahead. The only way to get ahead
is to save more.

Ideally, you would both earn more *and* save
more, but I'd say the best option for the
AverageJoe(tm) is to save more.

Re: Semi-OT: Earning VS Saving money

Sgt. Sausage wrote:
> "The Space Boss" <> wrote in message
> news:
> > What is more important, earning more money, or being able to save the
> > money that you make (and by save, I mean to not spend it!!)
>
> Definitely *saving*.
>
> Unfortunately, for most folks, earning more
> translates directly into spending more -- so
> you don't get ahead. The only way to get ahead
> is to save more.
>
> Ideally, you would both earn more *and* save
> more, but I'd say the best option for the
> AverageJoe(tm) is to save more.

I tend to think you're right. I used to earn $800 a month, and I
somehow managed to pay rent, buy food, buy gas, pay for car repairs,
etc.

Nowadays, my income is considerably more and it seems like I can't even
leave the house without dropping at least $100. And I think to myself,
if I saved that money it would really add up!

Re: Semi-OT: Earning VS Saving money

"The Space Boss" <> wrote in message
news:
> I tend to think you're right. I used to earn $800 a month, and I
> somehow managed to pay rent, buy food, buy gas, pay for car repairs,
> etc.
>
> Nowadays, my income is considerably more and it seems like I can't even
> leave the house without dropping at least $100. And I think to myself,
> if I saved that money it would really add up!

"Pay yourself first." Go to the bank and arrange to have 10% or 15% of your
monthly income deposited directly in a savings account, mutual fund, or
whatever, before you can get your hands on it. You will be surprised by the
fact that you will never miss it.

Re: Semi-OT: Earning VS Saving money

The Space Boss wrote:
> What is more important, earning more money, or being able to save the
> money that you make (and by save, I mean to not spend it!!)

saving is far more important if you are trying to get rich from a
modest start. you need to ask yourself what is the ROI for each dollar
you spend? Anything that gives negative ROI, i.e new cars, houses,
entertainment, women etc all need to be cut out. it's hard because we
are creatures of habit. When you realize that you will find it very
easy to cut out all the se 'non value-added' expenses.