Aerden (aerden) wrote,
Aerden
aerden

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Well, Now I Know

My savings (investment) goal should be 35%-60% of my income. So now I need to take a careful inventory of my spending, see what I can do without, and see if I can stand to live on that low an amount of available spending money. I know I can cut down on some things--snacks at work, snacks for gaming. Drink water instead of soda or coffee that I have to pay for, cut out the cups of chai from Starbuck's--though getting home at 6:30pm has done a lot to reduce that spending. Buy only one book a month from Amazon. Buy business suits on sale. Frequent the dollar store for certain items.

Next, I need to see what my expenses are. Then begins the tough part--investing. *shudder*

Addendum: Further reading of You Can Retire Young reveals that, the lower your earnings are, the lesser of a percentage of them you can save, as more will naturally have to go toward necessities. So I don't feel too bad now, just a bit disappointed that I probably won't be able to salt away as much of my income as I would like.;

Good news, though, I opened a new savings account this evening, to replace the one that I had to close out while I was unemployed.
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