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Save or spend?

Discussion in 'BlackHat Lounge' started by richjtf, Feb 27, 2016.

  1. richjtf

    richjtf Junior Member

    Joined:
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    Occupation:
    Being lost.
    Location:
    Venezuela.
    Suppose you are earning $3k a month from a website you built following a lot of bhw advise, and before coming to bhw you never earned over $300 a month. You're in a country where $1k is enough to live decently (car, ps4, nice computer, food, good internet, electricity, nice apartment). What would you do with the remaining $2k? Would you help out your family? Your friends? Would you spend more than you need in things like eating out everyday, would you try investing that money on other websites? Or would you save it?

    Would you move to a nicer place where living costs are higher like USA, CAN, UK? What would you do?

    Just wondering
     
  2. DTjai

    DTjai Regular Member

    Joined:
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    Gender:
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    Occupation:
    Outreach / SEO / SEA Marketer
    Location:
    Planet Earth
    Hey there richjtf,

    First of all, congratulations on your succes!

    This is how i would spend my money if i were you.

    1. Save up an emergency fund of 12 months.
    2. Help out my family where needed.
    3. Eat delicious food.
    4. Invest in business.

    I wouldnt move out unless i was unhappy in my current place.

    Regards,

    DTjai
     
  3. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I would start putting some of the money in an emergency fund to have a minimum 12 months covered for everything, after that I would reinvest money to scale up and diversify.
     
  4. onelettershor

    onelettershor Supreme Member

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    Save, mainly because I'm cheap and it's good to have some money in case something goes wrong.

    If any of my family members needed money I would give it to them in a heartbeat.