Boy, who would have thought that it’s harder to save money now that I have to pay rent! It sure was easy when I lived with my parents, and I get to squirrel away that 30% of my gross every month. It’s how I come to afford a six-figure sports car on a decidedly not six-figure annual salary. Well, the fun times are over: a far tighter monthly budget is one of the consequences of moving out.
And yeah, I’ve sold said six-figure sports car.
“Adulting” stops the fun. Everybody knows this. The need to save for some future probabilities means we shouldn't squander our entire paycheck. After subtracting rental cost, my discretionary spending have obviously gone way down. Nowadays, every dollar spent requires some serious thought and consideration. Gone are the days of dropping hundreds without thinking. Every outflow has to be reviewed. Did I mention I also have to buy groceries now?
The goal each month is to have something left over to stuff into savings and investments. Because having a money cushion provides optionality, and optionality provides stability and freedom. Stability in the sense that you have enough to cover any surprise money emergency. Freedom in the sense that you can do what you want, without being a slave to the any income. Work is turning out not so pleasurable? You can leave immediately, unless of course the next paycheck is figuratively life and death for you.
Having options is what I am continuing to strive towards. Paying rent is just a part of life, a new consideration that I have to account for. But it sure would be easier to not have it!
Giving props.