I get the question sometimes of “How much should I save?”. Instead of this question, the question should be “How much do you want to save?” or “What are your financial goals?”.
It is after all your financial goals that you are setting and what you have to live with.
So, can you save a $1 a day, $2 a day, $10 a day? What I’m trying to ask is how much can you save?
It comes down to expenses and income. If you have money left after expenses, how much of that can you save or invest — Especially for emergencies.
You never know when you are going to have an emergency come up? I guess that is why they call them emergencies.
Things break and life happens.
But, if you don’t save and you don’t invest, you are left with nothing to rely on when life happens.
People tell me that they will start tomorrow. The problem with tomorrow is that it is always tomorrow. So, why not today?
Getting back to my original question, how much do you want to save?