Save money

The main obstacle between me and this goal is rent.

I pay 3500 pesos in rent, which is about 28-29% of my take-home income. This is long-term unacceptable. I either need to increase my income enough to bring this percentage down to 20% or so, or seriously consider buying a house.

Buying a house gives me all sorts of willies. I’m uncertain about the future, starting about 2010. I want to spend some time (2-3 years, possibly as soon as next year) out of town or possibly abroad working and/or earning an graduate degree. So going in for a 15+ year mortgage, which my buying power would probably convert into some itty-bitty place out in the boonies, is an unpleasant thought.

I must think about this further. Get some advice from my parents.

My target is to save at least one sixth of my income for this coming year. I will invest that money in getting a degree or some other long-term goal.

Beginning in August, I’ll be writing down my totals. One sixth of my current income is about 2100 pesos.