Where All Your Money Gone?

Actually, I am pretty good at saving money. My parent taught me to safe, so I am pretty good at it. You have to know where are your money gone and keeping track on it. From there you will know where the unnecessary spending and cut it off.

When you are single, it’s very easy to do it, but when you got married, it’s kind of difficult if your partner doesn’t want to do it.

Anyway, I hear one time in Oprah Show that the good allocation of your net income (not gross, mind you) are like the following:
35% for housing
15% for transportation
15% for your spending
25% to pay your debt
10% for saving

I think 10% saving is not enough. It’s too small. I think the more you safe the better. If possible you must save at least 20% out of your income.
I know that some people having difficulty to safe, some people tend to spend more if they know that they have more money in their bank account. If you are under this category, then spend your saving by buying shares, or gold, or you probably you can put it in fixed deposit.

At this moment, I am thankful that I managed to safe about 20% of our income. My plan is to safe enough in 4 years and pay off the house loan. Once I settled that, I can safe more :)