You can also use ‘expenses x time’. I just wanted to point out that a job in itself is not a security guarantee. Way to many people have high paying jobs, and no savings—which I consider stupid.
When you just start out, than having the job is a better situation than being unemployed. Having some savings later is even better than that.
‘in order’ means that you have a general overview about your finances, reasonable bookkeeping, keeping up with outside demands like taxes. It also means you are able to keep up with your bills. Keyword: liquidity management.
There is a wide area on how to do it. And then there is the state of being completely lost.
To put it more general: everything strategic that needs to be taken care of is actually taken care off. Savings, special offerings for retirement, if you have dependents that also includes a live insurance.
Consider dealing with financial issues as applied rationality. One could probably estimate how one is saved by a reasonable dealing with the issue, and then donate that to SIAI.
Your advice seems optimized for… well, adults. Sure, if you can use your income as a metric, or your expenses, or some other way of measuring your financial situation—great.
Donating a fixed percentage of your income, then doing as you normally would if you had only gotten this reduced income in the first place, can apply to almost everyone. (People like you who don’t have an income have other problems.)
Saving is a very good idea—actually, my idea of “financial security” is “being able to save money”. It’s just not compatible with the “starving undergrad” model. I’m not a responsible adult, I’m a crazy kid. I don’t do responsibility. Sure, when I get a job (and it’ll likely be high-paying) I’ll start saving (also a fixed percentage, at least until I get the hang of things).
Prioritizing saving and vaguely defined necessary expenses… that’s what I’m afraid of. If I say “I’ll wait until I have enough savings to live on for six months”, I’ll just spend a little more every month, notice I haven’t saved enough yet, and wait a little more. If I say “I’ll wait until I can reliably pay the bills and track spending and get necessities like insurance”, I’ll just keep moving the goalposts—I’ll start thinking I need a car, and I might get sick so I need to save more, and I’ll have a big crash and drop accounting for six months.
You can also use ‘expenses x time’. I just wanted to point out that a job in itself is not a security guarantee. Way to many people have high paying jobs, and no savings—which I consider stupid.
When you just start out, than having the job is a better situation than being unemployed. Having some savings later is even better than that.
‘in order’ means that you have a general overview about your finances, reasonable bookkeeping, keeping up with outside demands like taxes. It also means you are able to keep up with your bills. Keyword: liquidity management. There is a wide area on how to do it. And then there is the state of being completely lost.
To put it more general: everything strategic that needs to be taken care of is actually taken care off. Savings, special offerings for retirement, if you have dependents that also includes a live insurance.
Consider dealing with financial issues as applied rationality. One could probably estimate how one is saved by a reasonable dealing with the issue, and then donate that to SIAI.
Your advice seems optimized for… well, adults. Sure, if you can use your income as a metric, or your expenses, or some other way of measuring your financial situation—great.
Donating a fixed percentage of your income, then doing as you normally would if you had only gotten this reduced income in the first place, can apply to almost everyone. (People like you who don’t have an income have other problems.)
Saving is a very good idea—actually, my idea of “financial security” is “being able to save money”. It’s just not compatible with the “starving undergrad” model. I’m not a responsible adult, I’m a crazy kid. I don’t do responsibility. Sure, when I get a job (and it’ll likely be high-paying) I’ll start saving (also a fixed percentage, at least until I get the hang of things).
Prioritizing saving and vaguely defined necessary expenses… that’s what I’m afraid of. If I say “I’ll wait until I have enough savings to live on for six months”, I’ll just spend a little more every month, notice I haven’t saved enough yet, and wait a little more. If I say “I’ll wait until I can reliably pay the bills and track spending and get necessities like insurance”, I’ll just keep moving the goalposts—I’ll start thinking I need a car, and I might get sick so I need to save more, and I’ll have a big crash and drop accounting for six months.