when you get your paycheak pay youlself from the gross or the net of your pay cheak? [5 or 10%]
2007-10-28 00:53:53 · 9 answers · asked by sonny o 1 in Business & Finance ➔ Personal Finance
whenyou get your pay check your gross is before taxes and your net is after taxes.
2007-10-28 01:04:42 · update #1
Gross (actually, in UK it doesn't matter too much because you can reclaim the Tax on you Pension contributions)
2007-10-28 01:47:54 · answer #1 · answered by Steve B 7 · 1⤊ 0⤋
it doesn't matter which. The important thing is to get into the habit of putting away a fixed amount each month. You WILL find a way to survive on the remainder. You'll also train your brain to think of money as something that can work for you.
It's not low income that wrecks finances.. plenty of people manage on very little. It's uncontrolled spending that cause the problem. Get into the habit of putting a little away each month, and in a few years, when you're earning more, you'll have built a nice nest egg instead of building up bigger debts to pay for fancier stuff like most people do.
2007-10-28 01:12:04 · answer #2 · answered by pete 1 · 3⤊ 0⤋
You should pay yourself 10%minimum from gross. Check out DaveRamsey.com for some good financial information.
2007-10-28 01:29:09 · answer #3 · answered by Clown 3 · 1⤊ 0⤋
Pete gave you the best answer and I'll add this. The point about paying yourself first is to be consistent. Make it the same amount with each check, and as Pete said: your brain will become trained to not count it when time comes to pay your bills.
2007-10-28 15:34:55 · answer #4 · answered by G N A 6 · 1⤊ 0⤋
If you can save 10% of gross, GO FOR IT. The real key however is that you ARE saving money. People say they "can't afford to," when the reality is that they "CAN'T AFFORD NOT TO."
2007-10-28 01:35:55 · answer #5 · answered by The Scorpion 6 · 1⤊ 0⤋
If you can afford net..but gross would be better.
2007-10-28 01:05:19 · answer #6 · answered by Bob D 6 · 1⤊ 0⤋
Thank you for your answer to me about tithing. You said that God has been working with you about this for 4 years, so I know that I'm not alone in this struggle. God bless you.
2007-10-29 04:21:22 · answer #7 · answered by Anonymous · 1⤊ 0⤋
well in theory thats a good idea but sadly bills come first
2007-10-28 00:57:19 · answer #8 · answered by Anonymous · 1⤊ 1⤋
What?
2007-10-28 00:56:14 · answer #9 · answered by corryglory 4 · 1⤊ 1⤋