2meirl4meirl

Nah this is solid advice it's just hard to execute. Save up a little money and you don't have to panic every time an unexpected bill comes.

As soon as it starts trickling down, we're all good

"Pay yourself, first".

Figure out what your actual essential costs are: housing, food, transportation. Make sure that's covered, then set a reasonable savings goal, and only spend on extra with any money left after that per month.

When I got my first decent job, I basically lived like I was still in a dorm for the next 4 years. Saved a big percentage of my income. That was 12 years ago. My percentage has fallen a little since then but I think outing of life style creep and creating those good savings habits early helps. Then compounding doors the rest.

I rarely drink, I don't smoke, I don't have a car, my apartment is 40m^2 because that's all I need, I pay <750€/month including utilities. Around 150€/month go to a private retirement fund with an insurance company. After other regular expenses, if I don't make any purchases, I can save 1000€ a month. Realistically I do make purchases, so it's more like 500 - 700€. I generally split that between my savings account and etfs (as retirement fund), and try to not let my savings account go below a certain point.

I make ~2800€/month net salary. Depending on where you live, it's entirely possible your base expenses are much higher, not having a car might not be a real option, rent might be insane etc. But as someone else said, lifestyle creep. You get used to luxuries and suddenly all your money is gone for "things you need". If I want something new that will lead to regular expenses, I try to examine if there's anything else I could really just do without that I can stop paying for. Sometimes I also just look at subscriptions etc. to see if I forgot about anything.

1. Get a new job. Six years is too long because raises no longer keep up with inflation. I'm aware that the job market is shit right now, but it's easier to find a new job while you currently have one.
2. Never accept the counter-offer from your current employer. They'll just keep you on long enough to replace you with someone cheaper.
3. Cycle/metro to work if possible to cut health/car costs. Consider the price difference of jobs/housing close to metro stops.
4. Meal prep and refrigerate weeks worth of lunches at a time. Don't go to bars. Consider vegetarianism.
5. Focus on your cheaper hobbies. Cancel all subscriptions and pirate everything instead.
6. Download your bank and credit card statements, then make a pie chart of where all your money is actually going.
7. Once your monthly income exceeds your monthly costs, start by saving a 6-month cash reserve (as per the meme). Being poor is expensive, you'll need this for surprise expenses.
8. Once you've got 6 months of savings, start dollar cost averaging into volatile long-term investments. Never attempt technical analysis; it's bullshit. Stick to your plan during bear markets. You are not a genius day trader waiting to happen, stick to the plan.
9. Never feel bad about lying to your employer, be "sick" whenever you want. Don't do unpaid overtime. Don't fall victim to Stockholm syndrome. Fuck 'em. Your mental health matters more.

Inb4 capitalism bad: no shit. Unionize if you can, participate in mutual aid if you can, but don't listen to crabs in a bucket who tell you it's hopeless.

I have zero degrees, rent, and I saved over $1000 every month on average even before I got my new/better job, when I was making less than $55k/yr.

Don't know what to tell you other than create a budget and examine it against your expenses carefully. Lifestyle creep is a hell of a drug.

See you made the mistake of doing something in your field you presumably kind of are interested in and know about.

They know you want that job so why would they pay you?

Instead of working hard and becoming skilled in an extremely niche and important science, pushing the boundaries of human knowledge what you should have done is gotten involved in finance and just do mumbo jumbo with other people's money and take a fee.

Better yet, have you tried being born owning a ton of land, or perhaps a factory?

Move to a lower cost of living area

Life Prole Tips: Live somewhere cheap, with roommates. Better yet, live with family. Don't have kids, don't have pets. See if you can get to work without a car so you don't have payments or insurance or gas. Don't bother with health insurance (you think you could afford that copay anyway, Mr. Buffet?), and if you see an ambulance, run. Pack your lunch or eat at home, look for deals at the grocery (and if you "forget" to scan a few things in the self-checkout, well, we all make mistakes). Pirate everything (unless it's a small creator, at least).

Really the main thing is rent. Rent is just a sieve that sucks away all your money so your landlord can sit around all day and then fly to the Bahamas. And there ain't shit you can do about it, short of living out a van, which has its own expenses. I've been in situations where even doing all that shit, half my paychecks go straight to rent. I'm incredibly fortunate now because I'm able to stay at my elderly uncle's house after he's moved out, and let me tell you, I'm just working at a warehouse but I'm putting away a lot more money than I ever could before.

If you would be homeless in a few months, then there you go, you seen to have enough money to last a few months, which is all this is about.

This is the kind of sage advice I wish they taught in schools.

For lots of people it's more than a month's worth if salary.

That sounds like the emergency fund saving is working.

Sadly, personal finance acumen wouldn’t save us from low wages, inflation, and ever-increasing cost of living.

I think all schools should teach shop class. That way, you’d always know someone with the know-how to build a guillotine.