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SVTPerformance's Chain of Restaurants
Road Side Pub
People with highly variable incomes, what's your style?
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<blockquote data-quote="earico" data-source="post: 16513142" data-attributes="member: 114682"><p>This man gets it. The amount of money you make doesn't matter. It's called living within your means and setting yourself up for the long game. In the beginning like 20 years ago I bought a cheap 30 year old house and remodeled it myself. It was my first home. Sure I was approved for double what I paid and could have gotten a nicer and newer home with my income at the time but I simply chose to wait. This is the problem American's have. No damned self control.</p><p></p><p>Fast forward to today and my house payment is less than 10% of my income and I support a family of 4, including myself, on one albeit large income. Wife hasn't worked in 5 years. Not bad considering I had $5 in my checking and nothing else at one point back in 2005 when I first quit my job and starting my self-employment.</p><p></p><p>To answer the OP. Just keep 3-6 months of income on hand as a buffer. I find that works for me. If the surplus starts to rise then I cut some out and invest or treat myself.</p></blockquote><p></p>
[QUOTE="earico, post: 16513142, member: 114682"] This man gets it. The amount of money you make doesn't matter. It's called living within your means and setting yourself up for the long game. In the beginning like 20 years ago I bought a cheap 30 year old house and remodeled it myself. It was my first home. Sure I was approved for double what I paid and could have gotten a nicer and newer home with my income at the time but I simply chose to wait. This is the problem American's have. No damned self control. Fast forward to today and my house payment is less than 10% of my income and I support a family of 4, including myself, on one albeit large income. Wife hasn't worked in 5 years. Not bad considering I had $5 in my checking and nothing else at one point back in 2005 when I first quit my job and starting my self-employment. To answer the OP. Just keep 3-6 months of income on hand as a buffer. I find that works for me. If the surplus starts to rise then I cut some out and invest or treat myself. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
People with highly variable incomes, what's your style?
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