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RE: On The Importance of Saving At Least 10% of Your Income
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@travelwritemoney
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1 min read
Part of the problem in saving 10% is that we feel compelled to pay others first. Most of us will short ourselves our 10% because we pay everybody else first. Our 10% is the most important savings. Everybody else can wait to get paid. Without that 10%, we'll never be able to stop working.
Along those lines, Dave Ramsey sometimes tells people who have debt and lost their job to focus on shelter and food for their families. Everybody else gets an apology, but no money until income is restored. We need to focus on our own priorities, not the priorities of our creditors.
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