Here's the real issue with budgets…
It doesn't work for Congress, and it doesn't work for individuals. Life gets in the way.
It's why on a monthly basis = your net costs need to be WAY lower than your net income. Savings have to be in buckets --- Emergency (such as a blown tire or collision deductible) -- Rainy day (laid off etc - so 6 months of Net spending) -- Retirement (which is NOT used for Emergency or Rainy days).
The numbers vary because each individual has individual lifestyle needs and income levels. My personal cash level is half a million bucks - less than that and I become uncomfortable. Someone else's might be two thousand.
People have to make CHOICES…. they can spend every dime NOW… and have not a clue how they're going to live later… or they can make a plan and stick to it and live in retirement. IT'S A BALANCE…. NOW vs LATER… if you want later to suck -- then spend now and don't bother to do a thing for later. Later is a long time away -- oh -- but it also lasts a long time… but cable TV is now and I really like football on Sundays so I "need it" now. Okay - but don't plan to watch cable TV later when you have everyday to sit on your butt with nothing to do because you can't afford to do anything.
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