Is 30% of savings worth it if I’m stressing out too much?

[jfarmer]

@reallylongnickname your 25. What are you doing with that 30% monthly saved up?

is your money working for you? Did you invest it? ROI doing well?

Please dont put in FD or leave in savings acc.

What your going thru is a minor blip. If you are truly discipline, it will be back on track to 30% in no time.

Also, this 30% your saving, what is the objective of it? house? car? wedding?

you need to have an objective when you save, so you have an entry and an exit.

Savings for perpetuality rarely benefits you really, just your next of kin

 

[reallylongnickname]

@jfarmer Yeah I’m planning to save for my next car and I’m an amateur in investing so I just keep them in MMFs which gives a decent return of 4.5%

 

[jfarmer]

@reallylongnickname then stick to that. cars are short term, no point putting in high risk and high yield instruments.

How much i the d/p? 10% ? how much you planning to put?

Now days cars got 100% loan. try look for that instead. Cars are depreciating asset.

The less money out of pocket, the better it is for you.

 

[timandres]

@reallylongnickname YOLO

 

[waterwerx]

@reallylongnickname If you can find a gf/life partner with the same FIRE mentality, your savings will rebound right back up.

Why go out and spend RM80 for 3 hours at the movies, when you can cuddle up and do the same thing at home with Netflix? Etc etc etc

However, if your gf is the typical Malaysian female with an active Insta account and the need to 'document' the latest trendy joints, you'll probably need to get a 3rd job.

 

[luxaeterna]

@reallylongnickname Savings rate is always the higher the better, so do as much as you can. Typical guide is 10%-30%, so you're still ok. But still, don't become complacent. Since you current side hustle will stop, then look for some other. More importantly, invest your savings instead of letting it rot in the bank.