Originally Posted by
TheDeathKnight
The benchmark for me, is having money saved, and not being in debt.
If I feel like I am getting paid, paying my bills, and saving some money,
then I have things under control.
It does not matter if you are living like a pauper, or like a superstar.
The key is living on the money you make.
Having a budget that reflects your income.
If you make very little, then live on ramen, etc.
If you do not waste your money, or overspend,
you will end up saving some money, and then you
will feel more secure, and more able to splurge sometimes.
Speaking of spending, and splurging:
Another little tidbit of advice I have, that I just gave out to someone this weekend,
is that I never spurge more than half my savings. If I want a $500 item, I will not
splurge on it, unless I have $1000 in the bank. I will always leave 50% in there.
So if I wanted to buy a $10,000 dollar car, I would need to save $20,000 before
I would buy it. That way you never feel desperate, or poor. It's a great system.
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