Today we will discuss the 2 steps that I took to increase my savings rate: Step #1 - Increase income:
Saving 60% of $20,000 per year would leave you with $8,000 for expenses... nearly impossible.
Saving 60% of $200,000 per year leaves you with $80,000 to cover expenses. Increasing income is one of the first steps needed to save a large portion of your income.
Step #2 - Cut Expenses
Focus on the big three: - Housing - Food - Transportation
I am not a financial advisor. The ideas presented in this video are personal opinions and for entertainment purposes only.
