With apologies to Tom, I just can’t read through 500+ comments of non-Oppos. So I’m bringing it to non-non-Oppo.
We all acknowledge there can be no universal rule or percentage. Everyone’s overhead is different. Everyone’s priorities are different. And so on. We might think 100% is excessive, but also that 10% isn’t really feasible for tens of millions of people.
Speaking for myself...
I’ve pretty much discovered that I’ve been... shaped... by some of my earlier financial struggles. I’ve gone broke twice. I’ve turned off the heat in winter so I can afford rent. Lots of skipped meals... I’ve put up with — in hindsight — highly dubious living circumstances just to scrape by.
So many years later, when I started making “okay” money, I found I still consumed as though I had none. When I bought my 17-year old car for cash, I was having an existential crisis. I still kind of am. I often feel like I belong in a shitbox... I’ve still never spent five-figures on a car.
I guess if I had to shop for a new vehicle today, I probably... wouldn’t. I’d maybe kind of fix up my pickup and bounce around in that and save save save! Then after my wife tells me for the thousanth time that she doesn’t want me to die, I’d spend like ehhhhh $8k-$15k, something AC and airbags I guess.
But how about your personal anecdote, if you’re willing to share?