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/biz/ - Business & Finance

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20634146 No.20634146 [Reply] [Original]

It's OK to spend up to 20% of your income on non-essentials (gifts, luxury items, going out, etc.)

>> No.20634270

Not when you should be allocating that money for a hair transplant.

>> No.20634723
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20634723

>>20634146
I depends on what you really want. Consider that every dollar you spend on that stuff is a dollar you aren't setting aside for an emergency, or a dollar you aren't saving up to invest so it can earn money for you while you sleep.

You should think about you check like this: when I get it, the first thing I'll do is pay myself. This means I'll take at least 10% of it and set it aside. The other 90% I can pay to a bank, or a car loan, or to a grocer, or to an Onlyfans whore, but that first 10% is mine and mine to keep so that it can work for me.

>> No.20634870

>>20634270
>Not when you should be allocating that money for a hair transplant.

im unironically getting one in august.

>> No.20635043

>>20634723
Never ceases to come across as dire that a normal person's savings goal is as low as 10%

>> No.20635116

>>20635043
10% is the baby step to get you in the mindset of salting away your money toward greater purposes. Obviously you should be saving as much as you can, but if I'm going to shill for 'The Richest Man in Babylon' (available as a free PDF all over the internet), I may as well stick to their example.

>> No.20636141
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20636141

>>20634146

>> No.20637191

>>20635043

I used to save 90% of my net pay. I eventually got such a large safety net and portfolio that I don't care about the majority of my income after expenses anymore. I only invest about 25% of my net now and I use the rest to just enjoy life.

Wagecucks do this in reverse and can't figure out why they're always stressed out with only $400 to their name.

>> No.20637262

>>20634146
I eat 1.5 meals per day and actively avoid eating out
>>20637191
I always regret my luxury expenses, I'm investing all my extra cash and working 7 days a week
Maybe one day I'll get to the point where I stop caring. I hope it's within a few years

>> No.20637441

>>20637262

I still work about 60 hours a week. It took me about 10 years of consistent working and saving to get a 50k cash emergency fund, 300k in index funds with a paid off 2018 car and paid off 300k home. I'll be 35 in September and started browsing 4chan in 2005. I could have probably been up way more if i made better investing choices and didn't waste tens of thousands dating a mentally ill woman I thought loved me.