I could do much better at this! I save a considerable amount of money, but it almost is negated by my lack of control. I think I forget I set aside to save, then I overestimate how much I actually have.
So here’s some full disclosure..
After taking out 401(k) and savings, I have $750 to live on every two weeks.
There’s a big payment on both of those two weeks. There’s a $300 student loan payment and a $350 rent payment. Then of course, there’s a cell phone bill and car insurance due on one of those weeks ($150) and an internet access bill and an electric bill due on the other week($75).
So that means:
for the first paycheck of the month I have: $300.
for the second paycheck I have: $325.
And that is going to cover groceries and gasoline plus any unneeded spending.
But also consider that I am putting away about $460 for 401(k) and $510 into savings.
The problem is that I blow those savings because i overspend. So the goal is to truly learn to live on the $1,500 I earn, and not even ack $970 I am putting away.
