Help in saving
Hi, I’m sometimes a bit lost for direction and need a bit of help and opinion.
I’m 30 M and working a few years. I’m currently earning around 17k monthly.
Alot of times I genuinely feel that I’m struggling and not being able to save and invest enough. Trying to target a savings rate of 50% proves to be quite difficult and I feel that I’m order to retire earlier, I’m trying to save and invest at least 10 k. And even so I feel that it’s not far enough.
When talking with friends and family they don’t seem to understand as I do not come from wealth and everyone thinks that I’m entitled.
Frankly, I feel that I should be asking for a raise of perhaps around 25% more (not joking) and work isn’t easy as well to begin with.
How would you guys allocate your money? Do u think I’m saving too much? Maybe I should spend more? How much do y’all save that is hitting your retirement goal?
Am I earning too little? Like honestly, I don’t smoke, drink or have a car but still feel like I’m struggling sometimes trying to spend within 5k monthly for myself…
Abit at a lost here…
Netizens’ comments
- 17k, but cannot save 5k. I think you failed badly. Moreover 30 yo. Means not mature enough to handle money, don’t know what is priority in life..
- I think barring the fact of your income, if you’re in your 30s and having not much liabilities/debts, 5K/m should be more than enough to survive. If you’re spending too much you prob have to calculate where your expenses go.
Also, are your peers around you earning waay more than you? Is that why you might be stressed on it?
A surplus of ~12K/m, about 144K a year is really a good savings record. You should be happy about that!!