Are You Reaching Your Savings Potential?
A topic that I have been fixated on these past few weeks is living from only half of our income. In researching this, I came across a really thought-provoking article by one of my favourite finance bloggers.
Cait of Blonde on a Budget, writes that we are budgeting all wrong, and that we’re not encouraged (by our family and friends, the media, and even experts) to save to our full potential.
Breaking down the Savings instruction from various expert advisors, Cait concludes that 10-20% is about the average recommended savings goal. But what if the goal of budgeting was to live off half of what you earn, instead of saving a percentage of what you earn?
While Cait does not offer a solution to the problem, she is encouraging a different way of looking at how we budget, and she certainly got my attention.
Check out the full article, here.