Per Stormin Mormon:
I've known a couple people over the years, long enough
to see how they spend money. I've come to the conclusion
that each person has some hard and fast rules. And some
strong rules. Often, the hard and fast rules make no
sense to me.

One rule that stuck with me was "Never spend more than 33% of your gross
income".

Stationed at Hickam AFB in Hawaii, working the swing shift, and
hitch-hiking into Waikiki every morning to go surfing on different
occasions I happened to get rides with two different old guys.

The first one was selling stainless steel cookware door-to-door and
driving a clapped out old car - because he needed the money to eat. His
story was that, when he was young, he always had a new car, was always
ready to throw his money around for a good time.... and now he was 65
and living hand-to-mouth.

The second guy had been a bartender all his life. He was a good 10
years older than the first guy - driving a new rental car, and staying
at one of the top hotels in Waikiki. His story was: "Every dollar I
ever earned, I divided into thirds: one third for Uncle Sugar (i.e.
taxes), one-third for me (to be spend), and one-third for the bank
(savings)..... I'm not what anybody would call rich, but the world is my
oyster."

Needless-to-say, the second made an impression.

I never managed to fully live up to the 33% rule, but came pretty close
- and I have to say the guy was definitely on to something.
--
Pete Cresswell