For the rest of us, at least Bozo uses his identifier to make his status clear so we can easily bypass his inane remarks on this extremely useful website.

This web site is dedicated to you and your financial future. It’s free, there’s nothing to buy, and it’s brought to you by a team of finance and business professionals with decades of experience. Over a thousand pages of essential information and tools to help you manage your personal finances through planning, investing and asset protection strategies.

Haha I got your reference, but what’s wrong with saving a ton?

Adam, you’ve got a lot going to Eve, here. 40% is a mighty big apple.

Just my passing thought.

Bozo

PS: Garden of Eden metaphor, for those slow on the up-take.

I’ve been reading for a long time, and I figured the best way to reach you would be through here rather than an email…plus this question is relevant to this post.

I am just beginning learning the fundamentals now because I am about to graduate from grad school. So I have a question because this is a basic budget question that I can’t seem to figure out.

My take-home income will be between 5000-5500 a month, and I was wondering if $1900/mo for an apartment is too high? It’s about 38%, but the thing is I won’t have a car (so no insurance or expenses on that) because I’ll be within walking distance of work and all shopping/groceries, and my company covers all medical insurance 100% (including copays and prescriptions). So I won’t have any automotive or insurance expenses, and also, utilities are included in that rent amount, so I won’t have to worry about a huge heating bill in January.

Does that still seem too high? I guess I just really really like this place and even then my budget still includes me saving 50% of my income (10% to savings/debts and 40% to contributions) so I think I’ve still got my priorities straight?

BTW I have no credit card debt, my credit card score is 780, and I have about $31k in 5-6% interest federal student loans.

@J.D. Thank you for the wonderful links. Keep up the good work.

I found the one used by a local university in it’s CFP curriculum. Covered all the topics in enough detail to be usuable.

By the time I was done with it, I had a budget, balance sheet, and an income & expense sheet. I was also tracking my solvency, liquidity, and debt ratios as well as my savings rate. Beyond that I learned about the rest of the basics, insurance, taxes etc.

One of the best $50 investments I have ever made.

Think of life as a teeter-totter. If you put too much weight on this end, you tend to tip over the other.

Folks seeking some “balance” might learn from teeter-totters. Those who are “teeter-totter”-challenged might learn about “levers” from the French:

http://en.wikipedia.org/wiki/Lever

The last I checked, squirrels didn’t speak French.

Nor did they ride teeter-totters, but they did “squirrel away” their acorns.

You can pay me for this wisdom.

Or not.

Bozo

Keep it up, JD! Thank You!

Bozo

Great site.

Are squirrels smarter than humans?

If you’re dumber than a squirrel, then I suppose you should pay to take a “how to save” course.

Bozo

PS: Once the squirrel saves, it’s a different issue as to how the acorn is planted. If planted on the “back forty” where it is unlikely to be harvested, it might grow into a mighty oak, yielding many acorns. If planted in my flower pot, I will no doubt dig it out come Springtime.

Saving is not a natural, instinctive behavior for most people (because it really involves consciously delaying gratification) and, therefore, must be “taught.”

If there is value in paying to learn how, which there can be, that’s not idiocy; it’s smart.

Bozo