“Try to save something while your salary is small; it’s impossible to save after you begin to earn more.”
– Jack Benny
Saving when you don’t have money may seem like an impossible task, I’ve been there. And I will admit, I’ve had to dig into my savings account and scrounge up loose change from the couch before just to make ends meet.
I believe Mr. Benny was trying to lightly say “we’re all frugal when we’re poor, but we are idiots when we actually have money to spend.” And having money certainly can do that to you. When you get out of the red it’s difficult not to slip back.
Luckily, it all starts with us!
Make a financial plan, and stick to it. Save at least 10% of whatever you earn no matter if your paycheck goes up or down. You might be surprised how little you can live on when you set a budget around those parameters.