earning about $680 to $10130 per month.. quite tough and stress for me..
2007-02-28 11:13:10 · 8 answers · asked by simplebabyme 1 in Business & Finance ➔ Personal Finance
Okay. I'll bite. I don't know if you're trying to save $100,000.00 or $10,000.00 in three years because you stuck the comma in an odd place.
However, if you saved every dime of $680.00 per month (paid no taxes, didn't eat, lived under a rock so no rent, etc.) you would have $24,480.00 total so if you're really trying to save $100,000.00, it's not possible.
But, your monthly income has a pretty wide swing here too. You said you earn between $680 to $10,130 a month. Most of us can only dream of making $10,130 a month but if you make that much and spent only half of it, in 3 years, you'd have about $182,340 saved up.
Since you said you are low income, I don't think you are making over $10,000 a month but I can't actually figure out how much you are making or how much you're trying to save.
The ONLY way to save is to spend less money than you make.
2007-02-28 11:29:24 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
Youre struggle on $10k a month? I know people able to save making $2k & paying $1500 in rent alone. You can save no matter how much you make it just is where's your priorities in life. If you want to buy a house for example you have to choose sometimes. I hardly watch TV but paid more for basic cable now having rolled phone digital cable & internet I pay less for all three even after the promotional period then I did for just basic cable a year ago let alone all three. You may not be able to go out as much as you want or your friends but again it is possible to make it work & save even making a dollar a day its just where's your needs & priorities are. Its amazing how you can go to Africa or even poorer places in most major cities & give a kid a soccer ball & they'll treat you like a god. Yet people want hand outs & luxery things like cable tv or huge apartments in nice areas without paying unless they get in & it will benefit them. I have a friend who makes 1400 a month before taxes & has a wife & soon two babies yet has saved $100 dollars a month for the last few years. Might not seem like a lot but that's $1400 for 4 weeks & 4 people .
2007-02-28 19:37:43 · answer #2 · answered by bpeter3196 5 · 0⤊ 0⤋
Way to go (devil dogs), I love the fact that you pointed that our questioner only need to earn $63 a week on a side job. This effort will result in the questioners saving a lot of money on the base pay. That is what happened to me. I was so busy working to make a little extra, I did not have time to BLOW my regular pay check on things I did not need.
It took me only 2 years to accumulate the money I was trying to get.
2007-02-28 19:32:08 · answer #3 · answered by whatevit 5 · 0⤊ 0⤋
Is that $10,000.00 (ten thousand dollars)? Well do the math.
3years is = 36 months. 10,000 divided by 36 months is.........
approxiamately $277.77 dollars per month....divided by 4.33 weeks in a month,.....since 52 weeks / 12 mo = 4.33.
Then $277.00 / 4.33 weeks = $63.97 per week....AFTER you scrimp,,,,pay your rent and purchase food and transportation. Good luck. Do side work or take a 2nd job to save the $63.97
2007-02-28 19:22:33 · answer #4 · answered by devil dogs 4 · 1⤊ 0⤋
YOUR MATH HURTS...
TALK TO AN ACCOUNTANT.
YOU DON'T SAVE 100 GAND MAKING 680 BUCKS A MONTH.
2007-02-28 20:15:59 · answer #5 · answered by cork 7 · 0⤊ 0⤋
You may also look out for an option to work online to make extra cash in your spare time.
2007-02-28 20:42:59 · answer #6 · answered by Prospect 2 · 0⤊ 0⤋
You need to fix your numbers.
And if you don't make that much, you can't save it. You need to make more.
2007-02-28 19:21:33 · answer #7 · answered by Anonymous · 0⤊ 0⤋
collect assets.if you have good credit id say buy and sell homes.
2007-02-28 19:57:03 · answer #8 · answered by derrik 2 · 0⤊ 0⤋