Episode Forty Four

Live within your means

Jan 30th

Live within your means

by Christian

I'm shocked when I read articles about 200k-400k families feeling like they are middle class. They list their expenses and you find they live in incredibly expensive homes, pay for expensive food, cars and other such things that they could cut back on, or are unnecessary to begin with. My first step to saving would be to first choose a lifestyle that is within your income, rather than at the edge of it. I don't mean to sound like a prick. I know for some, there is not much of an option. However it is a good place to start. As a single individual I make a small fraction of the salaries mentioned above. I own a home, a car, and can find room to save plenty for retirement and a rainy day. Also, as a millennial in my upper 20s, I'm surprised at how many people my age choose not to contribute to an employer retirement plan when offered. Any match or profit share (if you are so lucky) is free money! Particularly when it comes to retirement, starting young means so much.

Jan 30th

Judy says...

Judge Judy says…As a small child, I was taught the importance of saving money in order to have a solid future.

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