Dad told me to save 10% of every paycheck no matter what and I ignored him for 15 years

After I got laid off from a framing crew in Phoenix with zero savings and had to borrow $800 from my sister to cover rent, I finally realized that old man was right and now I automate the transfer the day before payday so I never see the money at all - what specific percentage do you guys lock away?

2 comments

2 Comments

kai_butler8327d ago

3% seems low man. If you're already used to blowing your whole check, what's another 7% gonna hurt but save you from borrowing from your sister again later?

tessa_clark7427d ago

Damn, that's the real gut punch right there. Having to swallow your pride and ask family for rent money changes everything. Here's a twist nobody mentions: you're better off automating a tiny amount at first, like 3%, to train your brain that the money doesn't exist. Then bump it up 1% every three months until you hit your goal. Less painful than going cold turkey on 10%.