I read an article before on a Financial Analyst who became financially free at the age of 32. It was revealed that he saves 70% of his income. When I learnt of this figure, I was quite surprised that he could save so much of his salary as average men are not able to save this proportion without compromising a reasonable standard of living. After thinking, I believe that the financial analyst is able to save 70% of his income mainly due to the fact that he earns a high income and secondly, he leads an average lifestyle despite earning a high income and these two factors combine to give him a saving portion of 70% of his income.
To give you an example of what I mean from the above, say the average expenditure of an average man per month on food, family needs, transport and other non-luxury items is ......