% of income

nelly_2

heppy23 wrote:

If my housing and bills come to more than a third of my salary does that mean I need to earn more money?

wouldnt hurt would it. Youd be richer

amosworks

If you use the "pay yourself first" system, you should say that the first hour of each day you work is for you and only you, the next few hours are bills and living expenses and the rest is for any debts and pocket money.

So work out your hourly rate for your job and multiply that by the number of days you work either each week or month, depending on when you get paid. Then this figure should come straight off the top of each pay cheque and in to your savings.

It's a really good system to help start people saving because YOU do all the hard work, yet it's strange how you're often the last one to get "paid" out of whatever's left? By paying yourself first, everyone else can take a slice of what's left but as you do the hard work, you get first pickings

If you take it out by SO as soon as you get paid, you'll never miss it. In fact, pretend it doesn't even exist and tell people you only have whatever's left after that as your net pay.