Imagine really bad shit happened, your company went bust. You had to take a 30% (or 40%) pay cut. Could you survive?
OK, now take that 30% and transfer it into a savings account before anything else. It doesn't exist. Your pay is what's left. Now budget expenses and life.
Start living when you have a little insurance. Even six months buys some peace of mind.
If you have a family you have to modify a little to ensure they can have a tolerable life meanwhile, and a little time out etc. but you get the idea.
If you keep this idea going even in good times you'll be buying rental properties with it eventually.
OK, now take that 30% and transfer it into a savings account before anything else. It doesn't exist. Your pay is what's left. Now budget expenses and life.
Start living when you have a little insurance. Even six months buys some peace of mind.
If you have a family you have to modify a little to ensure they can have a tolerable life meanwhile, and a little time out etc. but you get the idea.
If you keep this idea going even in good times you'll be buying rental properties with it eventually.