Well, as the title says.
My initial plan was to basically every month pay for my expenses first. Afterwards, put 75% of the leftovers into savings leaving 25% as fun money. Is this a good idea considering the fact that it is widely advised to pay yourself first, essentially considering "savings" as an expense item that absolutely must be fulfilled? If I should do this instead (consider savings as a mandatory "expense"), how do I go about doing this on a budget that is already really tight.
My fear is underestimating my bills and not having enough because it went to my savings instead. And then have to use it since savings are for emergencies and not having enough food or electricity would kind of be one.
Maybe I am just overthinking things and my fear is highly unlikely. This will be my first time living on my own (graduating college soon, getting an apartment). I guess after the first few months when I have a good idea of my expenses, I can definitely add savings in as a mandatory expense instead of just allotting 75% of leftovers.
Any advice would be appreciated!
Submitted January 04, 2017 at 12:32AM by HashtagBakedPotato http://ift.tt/2iGuAA0
