RE: You Never Have Money Once You Buy A House And A Car- True Or False?
Well, all depends on how much income you have and how much you spend on housing and cars obviously. To always have money, the best rule is to spend the third of your income on housing, another third on everything else (food/clothes/car/repairs/travel) and put the last third on your savings account (invested in a mutual fund for example). It is actually not that difficult, if you have low income you can rent a small flat, commute by bike, etc for a couple of years and as your income grows (and it'll grow, cause your savings are growing each month and the interest you gain on it will slowly increase your income) you can slowly afford more and more. If your income is relatively higher and/or you want to go even further, check out the blog of Mr Money Mustache, he recommends saving the 50% of your income (and he does 90%)...
That's great...will check out that blog. In principle i agree but when things get in the way like elderly parents needing care, redundancy, and inflation, it's hard to predict how much you need to live on in say 5 years time. I prefer being self employed I can work around elderly relatives and keep an eye on growing trends in the self employment world! But renting is easier self employed because you are not fixed. The car however makes like easier gets my husband to work and me to my business meetings. I think sometimes what counts as necessesity is relative to different cultures and social groups.