If you can control the big 3, the rest is easy.
Saving money doesn’t have to be hard but it can become impossible if you let the big 3 get out of hand.
From this chart you can see that the average American spends most of their hard earned income in 3 ways:
- Housing – 33.1%
- Transportation – 15.9%
- Food – 12.9%
We all need a place to live, a way to get around and food to eat. But how much we choose to spend in these areas will have a direct impact on how much money we can save.
The top 3 = 62%.
Can we reduce that overall number to 55%? What about 50%?
The saving percentage is way too low at 3.1%. To make a real difference in our lives- its not about the nickles and dimes. We need to get to dollars.
And the only place to do that is to focus on the big 3.
Smaller houses, cheaper cars, less expensive food. It’s not impossible.
-Jared S. Friedman
