Now think about the time you were poor and the time you had money, and try to see whether you are where you are today because you were saving money.<p>Saving money, and leaving cheaply when poor will help you develop a habit for when you are financially in a better place.<p>However saving 20% of your salary when you make, say $2,000 per month in NYC&#x2F;SF&#x2F;LA, is not going to be possible. Not only that, but it would take 4 - 5 years to get to $20,000.<p>My thinking is there is a minimum people need to make before they can save meaningfully. Below that point, saving is just an exercise to get ready for a better financial position&#x2F;earning.