Owen Rascovitch

What is a way that once you work out what you're making and perhaps what you're spending, what's a really easy way to think about maybe what you could save?

Yeah, I think...

When you do start to micromanage your budget like that, you can be at risk of becoming what we call miser, like someone that has an unhealthy relationship and really doesn't allow themselves to enjoy life while they go along and they think about every expense in a really unhealthy way.

So I think, and let's be honest, no one really wants to spend any more time than they have to working out which way they want their budget to go this month, next month, this week, etc.

So I too subscribe to this very simple way of allocating money.

So mine is just probably a tiny bit more complicated in the fact that I want to pay myself first.

I want to invest.

We'll get to investing in a few episodes time, but I want to invest money.

So I kind of allocate that away first and that's 20% for me.

that 20% can go to at first paying down debt.

You can use it for whatever, but I use it for investing.

And then you have this other 80%.

And out of that, you've got short-term expenses, long-term expenses, you've got savings, you've got holidays, that sort of stuff.

So you kind of live off 80% and then you allow the 20% to invest.

And I think that's a very similar way to do it.

And I have a few more details, which I'll link to in the show notes.

You can actually see my budget there.

So, have a look at it.

Remember it.

You can even think about the parts that you want to use too.