30 years old - am I spending too much of my salary?

pearl123

To be honest if you are eating out so much how can you be certain of the amount of salts/fats in the products you are eating.
Unless you make your own food and read food labels you have no control over this.

londonerneedtosave

racing_blue wrote: »

You ask "is this a normal amount to be spending for my income"- flawed question! If you can shift focus away from income, to wealth, the picture looks different.

At some point we all (1) stop working and (2) die. If (1) happens before (2), it is called retirement. In my house, we aim to spend no more that 50% of net income. As a result, our investment income is rising year on year... a virtuous circle.

A book that explains this well: Your Money or Your Life.

Is 50% a desired target to reach? Sounds obtainable for me I think..

YoungBusinessman

Just dont try too much at once, you will fail almost instantly. Go packed lunch a few days a week, aim for 3.

Up it to 4 after a few weeks then gradually upto everyday if you can.

Too much at once will see you fall at the first hurdle.

YoungBusinessman

londonerneedtosave wrote: »

Is 50% a desired target to reach? Sounds obtainable for me I think..

50% throughout working life would see a wasted life.

To some extent. But it is a good savings target with an aim of saving a deposit.

londonerneedtosave

londonerneedtosave wrote: »

Is 50% a desired target to reach? Sounds obtainable for me I think..

That's definitely under consideration. We try to eat once at a restaurant a week.. but whereas for lunch I usually eat out everyday.

The rest we try to cook (we are foodies) so we generally avoid salt.

grey_gym_sock

on deposits, 25% is not bad. a few of the lowest rates require a 40% deposit, but the difference between mortgage rates with 25% and 40% deposits is much less than the difference between 10% and 25% deposits. however, every 5% step between 10% and 40% can make a difference.

MiddyMum

Is it only me that thinks this thread is a wind up?

claire16c

Youre on a good salary so you may as well enjoy yourself - but your food stands out as a ridiculous cost. Spending money on breakfast each day outside of your home- there is no need! And try to cut down how often you go to the supermarket.

ViolaLass

londonerneedtosave wrote: »

That's definitely under consideration. We try to eat once at a restaurant a day... but whereas for lunch I usually eat out everyday.

The rest we try to cook (we are foodies) so we generally avoid salt.

You /try/ to eat out once every day? Why?

londonerneedtosave

ViolaLass wrote: »

You /try/ to eat out once every day? Why?

Sorry I meant once a week.