What Matters More — Your Spending Rate or Your Saving Rate?
October 1, 2024
4 Comments
Lisa
on October 1, 2024 at 3:14 PM
I’m guilty of the “hopefully I’ll have enough at the end of the month”. Your words are a fresh reminder that if giving and saving is a priority FIRST, then you’ll figure out a way to live on the 80%.
Savings rate for sure. I can control my spending, but I’m with you in terms of long-term impacts. Far easier to spend what’s left than to save what’s left. We give the first 10-12%. Then we save/invest. Then we spend.
I’m guilty of the “hopefully I’ll have enough at the end of the month”. Your words are a fresh reminder that if giving and saving is a priority FIRST, then you’ll figure out a way to live on the 80%.
Glad the reminder was helpful, Lisa!
Savings rate for sure. I can control my spending, but I’m with you in terms of long-term impacts. Far easier to spend what’s left than to save what’s left. We give the first 10-12%. Then we save/invest. Then we spend.
Thanks for the affirmation, Pete. It’s such a simple framework: give, save/invest, then spend. And so effective.