Hi all,
For some vague context I am a 25 yr old individual with a decent career and room for growth. I always pay my stuff on time and am responsible with my financial decisions. I finally decided to finance a car I really love but will take up roughly about 10% of my salary. I have done my yearly budget, taking into account all my bills, my necessities, an allowance, my credit score, and an emergency funds. In doing this, I also took into account some room for error, and in the end I feel comfortable with my decisions. That being said, I am basically siting on about 14% of my annual salary leftovers, to do as I please with. This includes possible additional allowance, investments, saving towards a house, etc. However, this percentage does not include potential salary increase, and any side income. In other words, it can only get better in the foreseeable future. I am getting comfortable adulting, and being a responsible adult, but I always seek wisdom from those before me. Which is why I would like advice from my elders. From your knowledge/experience, is sitting on roughly 14% of my salary financially smart/healthy? Or is this to small of a percentage to begin feeling comfortable around?
Clearly no right or wrong answers (hence subjective topic). I just want to listen to help form my own perspective. I am someone who is seeking to start settling down (House and fam) around 30 yrs old, but would like to be stable by that point.
Thanks all.
Submitted January 21, 2021 at 03:32AM by aSpiderNerd https://ift.tt/3iF0CJu
