[Net]

Few years ago I had a real bad case of spending problem. I earned like 10-15k in 2 months from CPA from youtube, which was my first real big score and I spent like 90% of the money in the first 6 months. While most of the stuff I spent on was not stupid, e.g. I bought a 600$ gift for my mother, I sent some money to my cousing cause he wrecked his car, I bought myself some winter clothes, etc. But probably more than half of the money went to some stupid shit that was more directed at what I wanted, then what I needed (More expensive food, tech stuff that I don't really use that much, etc.)

Now, Im back to earning some money (Editing and recording videos) online again, but this time I won't make the same mistake.

My plan is basicly 30/20/50.

30% of all of my money, I won't mind spending on anything, literally won't be attached to it at all.

20% of all of my money will be backup to my first 30%. In case I spend it all again, I will still have other 20% of ''emergency money''.

The rest of the 50% of my money, Is what I like to call ''No-Touchy'' money. Basicly I put that money it in a separate place than my spending money and have it there in case I REALLY need it, but most important it's more directed at investment money (crypto, stocks, maybe even real estate in the future...)

This will probably be my saving strategy, so I won't make the same mistake I did years ago.

Thoughts?

[Life]

I think everyone goes through the spendy stage as did I haha!

Having an amount to spend on whatever you want is essential in a savings plan.. it decreases your risk of using your savings. What I do with my regular income is I only use 10% for spending on whatever I wish.. but another 10% is in a seperate account that is for buying bigger items like a computer, car, or whatever you want that will require a little saving..

So that’s 20% spending...
I allocate 60% for all my bills and food and all that crap that you need in life lmao but depending on your situation it could be totally different..

The last 20% is hardcore savings and or debt relief/loss of work relief.. which you never touch and put away in a high interest savings account that you can’t access unless going into the bank directly..

As for the 60% for bills and stuff if you pay your bills and your food etc all that’s done and you have left over you can split it between the hardcore savings and your 2 spending accounts as you desire.

It’s a good basis to start I’ve helped a fair few people with their finances and it feels so good to watch people have financial freedom in life even on a small or choppy income.. the more detail I know the more detail I can give!

But good luck for sure! Stick to it and amazing things will happen! 🤝

[Zoo]

I think different systems work entirely different for everyone. I was always saving all my money as a kid and then when there was something I wanted, such as a new $1k laptop then I always had the funds to buy that. But that would last me years. Luckily for me I never had a desire to spend money on random stuff that I didn't need so having all my money in one savings account never caused me any issues.

At the end of the day, it all depends on how "strong-minded" you are. Even if you're separating x%/x%/x% you still have to follow it through and not start deviating from the original plan.

Best of luck with it all :)

[Kenjataimu]

https://www.reddit.com/r/personalfinance/

How old are you?

[Net]

https://www.reddit.com/r/personalfinance/

How old are you?

22

[matmat29]

Clever plan of attack man! And you are only 22!