Comments on: A Wise Saving Habit: The 10% Rule http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/ The best Credit Card Debt Blog online Tue, 09 Mar 2010 09:42:31 -0500 http://wordpress.org/?v=abc hourly 1 By: Diesel http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-25091 Diesel Thu, 26 Feb 2009 18:19:19 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-25091 <a href="http://chevydunkriderscars.peoplesaua.info/" rel="nofollow">chevy dunk riders cars</a> <a href="http://yondaimeakatsukileader.peoplesaua.info/" rel="nofollow">yondaime akatsuki leader</a> <a href="http://clubpenguinmoneymakercom.peoplesaua.info/" rel="nofollow">clubpenguin money maker com</a> <a href="http://onlinewordunscrambler.peoplesaua.info/" rel="nofollow">online word unscrambler</a> <a href="http://narutoallhandsignsandseals.peoplesaua.info/" rel="nofollow">naruto all hand signs and seals</a> <a href="http://olivegardenemployeewebsite.peoplesaua.info/" rel="nofollow">olive garden employee website</a> <a href="http://chicagostreetgangs.peoplesaua.info/" rel="nofollow">chicago street gangs</a> <a href="http://atmega128files.peoplesaua.info/" rel="nofollow">atmega 128 files</a> <a href="http://xboxcheatcodesforsanandres.peoplesaua.info/" rel="nofollow">xbox cheat codes for san andres</a> <a href="http://winchesterserialnumber.peoplesaua.info/" rel="nofollow">winchester serial number</a> <a href="http://pictureofmrsa.peoplesaua.info/" rel="nofollow">picture of mrsa</a> <a href="http://wachoviabankabaroutingnumber.peoplesaua.info/" rel="nofollow">wachovia bank aba routing number</a> <a href="http://scratchanddentfurnitureindianapolis.peoplesaua.info/" rel="nofollow">scratch and dent furniture indianapolis</a> <a href="http://wwwvanessaannehugentcom.peoplesaua.info/" rel="nofollow">www vanessa anne hugent com</a> <a href="http://homeremediesfortoothabcesses.peoplesaua.info/" rel="nofollow">home remedies for tooth abcesses</a> <a href="http://lilwayneinpiles.peoplesaua.info/" rel="nofollow">lil wayne in piles</a> <a href="http://whitetaildeerlayouts.peoplesaua.info/" rel="nofollow">whitetail deer layouts</a> <a href="http://newbinpansat2700clone.peoplesaua.info/" rel="nofollow">new bin pansat 2700 clone</a> <a href="http://belksdeptstore.peoplesaua.info/" rel="nofollow">belks dept store</a> <a href="http://narutoondolyricstranslated.peoplesaua.info/" rel="nofollow">naruto ondo lyrics translated</a> chevy dunk riders cars
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]]> By: Telemill http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-2580 Telemill Mon, 16 Jun 2008 22:30:09 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-2580 Though I agree with you on the saving 10% aspect of this article, I must say you should dig a little deeper when you see situations of poverty then looking at the surface. Having "LIVED" in those neighborhoods that you visited, I know WHY it's easier to grab that nice car than to save money when you are "government assistance." Did you know that when you are on any type of government assistance getting into debt -- car payment, credit card payment, etc. -- is not a negative mark on receiving government assistance. In other words, having a car payment does not take away your ability to apply for food assistance and other needs. However, the minute you open a checking or savings account and put something in it more than $300 . . . you are automatically ineligible for assistance. Never mind that that $300 hardly gets you groceries for the month. Never mind that it probably took you 3-4 months to scrap together. Never mind that without the assistance you can not possibly continue to save that little bit of money which would eventually allow you to GET OFF the assistance once it grows big enough. Never mind any of that. Understand that your own government is "teaching" people that being consumers is to their advantage. As soon as they become savers, investors or better themselves financially . . . they are punished. Now, if this was your life's reality what would you think about the 10% rule? Though I agree with you on the saving 10% aspect of this article, I must say you should dig a little deeper when you see situations of poverty then looking at the surface.

Having “LIVED” in those neighborhoods that you visited, I know WHY it’s easier to grab that nice car than to save money when you are “government assistance.” Did you know that when you are on any type of government assistance getting into debt — car payment, credit card payment, etc. — is not a negative mark on receiving government assistance. In other words, having a car payment does not take away your ability to apply for food assistance and other needs. However, the minute you open a checking or savings account and put something in it more than $300 . . . you are automatically ineligible for assistance.

Never mind that that $300 hardly gets you groceries for the month. Never mind that it probably took you 3-4 months to scrap together. Never mind that without the assistance you can not possibly continue to save that little bit of money which would eventually allow you to GET OFF the assistance once it grows big enough. Never mind any of that.

Understand that your own government is “teaching” people that being consumers is to their advantage. As soon as they become savers, investors or better themselves financially . . . they are punished. Now, if this was your life’s reality what would you think about the 10% rule?

]]> By: Carnival of Net Worth #4 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-2517 Carnival of Net Worth #4 Wed, 11 Jun 2008 10:00:09 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-2517 [...] Your Card presents A Wise Saving Habit: The 10% Rule posted at Master Your Card, saying, “Hope your readers enjoy it! Cheers, [...] [...] Your Card presents A Wise Saving Habit: The 10% Rule posted at Master Your Card, saying, “Hope your readers enjoy it! Cheers, [...]

]]> By: BambisMusings http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-2336 BambisMusings Wed, 28 May 2008 15:47:22 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-2336 This is a Wise Saving Habit: The 10% Rule. There are many people who do not take government subsidies and try to make it on their own, but ultimately makes less than $10K a year Net to live on. That would be $1K a year even at $10K to live on which leaves $9K to live on. I agree it's something to work toward, but even 1% or 5% would be something, eh? This is a Wise Saving Habit: The 10% Rule. There are many people who do not take government subsidies and try to make it on their own, but ultimately makes less than $10K a year Net to live on. That would be $1K a year even at $10K to live on which leaves $9K to live on.

I agree it’s something to work toward, but even 1% or 5% would be something, eh?

]]> By: Carnival of Net Worth #2 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1606 Carnival of Net Worth #2 Wed, 30 Apr 2008 09:42:46 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1606 [...] presents A Wise Saving Habit: The 10% Rule posted at Master Your Card, saying, “Hiya Good luck with the Carnival this week! Cheers, [...] [...] presents A Wise Saving Habit: The 10% Rule posted at Master Your Card, saying, “Hiya Good luck with the Carnival this week! Cheers, [...]

]]> By: Livingalmostlarge http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1146 Livingalmostlarge Fri, 18 Apr 2008 14:41:23 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1146 Depends on your age. 10% @ 50 won't be much, better but not much. 10% at 25 is a different story. It really depends on where you are, what you've saved, etc. Depends on your age. 10% @ 50 won’t be much, better but not much. 10% at 25 is a different story. It really depends on where you are, what you’ve saved, etc.

]]> By: Kelli Myers http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1118 Kelli Myers Thu, 17 Apr 2008 05:38:44 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1118 A great post to read. Its true that at times it is important to think about the future and save but again its sad that not many people do it...not even me. A great post to read. Its true that at times it is important to think about the future and save but again its sad that not many people do it…not even me.

]]> By: Seb http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1033 Seb Tue, 15 Apr 2008 11:05:29 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1033 It's sad but true, most people live in the "now" and don't stop to think how their spending habits are going to affect their future. It’s sad but true, most people live in the “now” and don’t stop to think how their spending habits are going to affect their future.

]]> By: WhizKidz http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1026 WhizKidz Tue, 15 Apr 2008 02:07:29 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1026 Great article. It's amazing that you would mention the book "The Millionaire Next Door" because a couple of weeks ago, my pastor mentioned the same book so I bought it. Maybe this is a sign to actually read it and not leave it on the bookcase!!!!! Thanks. Great article. It’s amazing that you would mention the book “The Millionaire Next Door” because a couple of weeks ago, my pastor mentioned the same book so I bought it. Maybe this is a sign to actually read it and not leave it on the bookcase!!!!! Thanks.

]]> By: Shanti @ Antishay http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/comment-page-1/#comment-1025 Shanti @ Antishay Tue, 15 Apr 2008 02:02:26 +0000 http://masteryourcard.com/blog/2008/04/14/a-wise-saving-habit-the-10-rule/#comment-1025 This is a great post - and something everyone should read. I think sometimes the thought isn't on savings because it seems like an "adult" think to do. This was how it was for me, anyway, back when I was getting into debt. I always thought somewhere that saving was something I would do once I was earning more money and once I had all the things I thought I deserved first. This switch in mindset is key. And I TOTALLY would have been able to save at least 10% of my paycheck if I hadn't first started to spend 200% of my paycheck each month... That being said, I've learned my lesson, and have now dropped to the other side of the spectrum. For anyone wanting to get serious about savings in an extreme way, you can always do what I plan to do - save 50% of your income and live off the rest. (Right now that 50% is going toward debt, but not for long!!!!) It is surprisingly easy to live on half of what you earn. I live in one of the most expensive cities, I drive a gas-guzzling truck, and I eat out. It CAN be done - it just takes time to budget (I budget loosely), plan, and make yourself do it ;) This is a great post – and something everyone should read. I think sometimes the thought isn’t on savings because it seems like an “adult” think to do. This was how it was for me, anyway, back when I was getting into debt. I always thought somewhere that saving was something I would do once I was earning more money and once I had all the things I thought I deserved first. This switch in mindset is key. And I TOTALLY would have been able to save at least 10% of my paycheck if I hadn’t first started to spend 200% of my paycheck each month…

That being said, I’ve learned my lesson, and have now dropped to the other side of the spectrum. For anyone wanting to get serious about savings in an extreme way, you can always do what I plan to do – save 50% of your income and live off the rest. (Right now that 50% is going toward debt, but not for long!!!!)

It is surprisingly easy to live on half of what you earn. I live in one of the most expensive cities, I drive a gas-guzzling truck, and I eat out. It CAN be done – it just takes time to budget (I budget loosely), plan, and make yourself do it ;)

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