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How would you manage $2500p/w net

Discussion in 'Finance & Banking' started by Crusher, 3rd Dec, 2010.

  1. Crusher

    Crusher Well-Known Member

    11th Jul, 2008
    Newcastle, NSW
    Hi all,

    As the title states, what would you do with $2500p/w net paid?

    It has recently come to my attention that I actually know some people on similar amounts, yet they have no real direction with their income? Sure enough, nice cars, they never go without etc... But, surely a structured approach would help set up some nice nest eggs for future reference..

    For the sake of the question, assume $1000 weekly costs / debt etc & $1500 per week is being saved.
  2. Johny_come_lately

    Johny_come_lately Well-Known Member

    1st Jul, 2009
    SE Queensland
    My brother was like this...... until the day he lost his job. He only had a few months saving. Not a nice position to be in.

    There are two issues to consider:
    1. Living below your means (not having debt on consumer goods)
    2. Saving a fixed percentage of your wages (no matter what)

    For some reason, if our wages go up, we increase our spending. If we lived on a $100,000 lifestyle and saved $30,000 we would get ahead fast, yet stll have a life.