What percentage of your income should you save?

[Kennysplash]

No doubt, one of the best way to build your wealth is by saving consistently even if it is small. Experts in finances that everyone should try to save at least 30% of their income every month.
Also when you collect a paycheck the first thing you should do is to save that percentage first before you spend on other needs that you might have.

Once you have built discipline saving consistently like this, you are on the right track to wealth.

 

[Potuse]

It is mandatory to save certain percentage of your income. Saving about 10% isn't too much but the amount to save is largely dependent on your responsibilities and dependencies.

 

[Grant]

It depends on the income you receive. I try to save at least 15% or 20% of my money, or put it in a safe or credit union. The less money you make, the less you will probably be able to save, but you should still strive to save as much as you can.

 

[Jonaville]

No doubt, one of the best way to build your wealth is by saving consistently even if it is small. Experts in finances that everyone should try to save at least 30% of their income every month.
Also when you collect a paycheck the first thing you should do is to save that percentage first before you spend on other needs that you might have.

Once you have built discipline saving consistently like this, you are on the right track to wealth.

This just depends on the person's income because there are some people who are not making enough money and they will not be able to save money so it depends on how much you're making

 

[Lynaia]

I believe what everybody want and need in life is different. Normal standard should be that you should be saving 20% of your income but it's not everybody that can meet that target

 

[eLdavis]

For me though i do not have a specific percentage or income i use in saving, i simply put in any amount and save. Cause sometimes me waiting to have that specific amount before i can save might end up in me eating it.

 

[Good-Person]

This just depends on the person's income because there are some people who are not making enough money and they will not be able to save money so it depends on how much you're making

I am trying to save at least 50 percent of my income. However, I must admit that it is very hard thing to do so. The fact of the matter is that the cost of living has increased too much.

 

[Nomad]

Some people tell you to save at least 10 percent of your income and some tell you to save 20 percent. What percentage of savings you should do depends on your income. If you earn really well, you might even be able to say 50 percent of in come

 

[GIFTMICHAEL]

This vary between individuals, I could decide to save up 50% of my income on a daily , weekly or monthly basis whichever is more convenient for me.

Savings can be modified to suit your goals and what you intend to do with your saved up fortune over a period of time.

 

[Jonaville]

I am trying to save at least 50 percent of my income. However, I must admit that it is very hard thing to do so. The fact of the matter is that the cost of living has increased too much.

I am even trying my best to see if more than 50% of my income and I hope I achieve that. It is hard but it is very good to save and I have learned that with time

 

[GoldenLady]

I like using the 80/20 rule, and thus I save 20% of my paycheck each month. I'm still not satisfied with the amount, so I try to use it immediately to invest and get more returns, no matter how small.

 

[Chibson]

Presently, I try to save about 20% of my income. I also have some certain percentage for investment and some for other things. Having a saving is always important and necessary for anyone that wants to achieve financial freedom.

 

[deucher]

This rule really works for me, but not 30 percent is a lot for my earnings, but I started with 10 percent and now I already save more than 15 and the most important thing in this matter is discipline. And I wish that in the near future I could save 30 percent and it would not be a big blow to my financial affairs

 

[Syldan]

Well I think the best percentage to decide, depends on your financial income status.

if you earned less, your savings can't be the same with someone who earned much higher than you do.

 

[Good-Person]

Well I think the best percentage to decide, depends on your financial income status.

if you earned less, your savings can't be the same with someone who earned much higher than you do.

I have to save a lots of money because i plan to get married within a few years. Time is running out and I have to sort out this issue fast. This is why I am spending a lot less now.

 

[Chibson]

Saving 30% of your total earnings is actually a very good idea. You can decide to save 30% and invest 30%. You can use the remaining 40% to sort out your bills and miscellaneous.

 

[Good-Person]

Saving 30% of your total earnings is actually a very good idea. You can decide to save 30% and invest 30%. You can use the remaining 40% to sort out your bills and miscellaneous.

i intend to save more and more. So my saving portfolio is far much more than that. Saving a 30 percent income would not help most of the people nowadays.

 

[eenya00]

I like using the 80/20 rule, and thus I save 20% of my paycheck each month. I'm still not satisfied with the amount, so I try to use it immediately to invest and get more returns, no matter how small.

That 80/20 rule has not really worked out fine for me in time past, but I prefer saving towards a plan for a project in such way I am more determined and serious to save.

 

[Abigael]

Yes, it is very important to build a culture of saving money. Choosing a percentage to save each time you are paid is the best option available. Then make sure to save it first before you spend on your expenses.

 

[Chibson]

i intend to save more and more. So my saving portfolio is far much more than that. Saving a 30 percent income would not help most of the people nowadays.

I think you can increase your savings if you do not have anything you are investing on at the moment. But if you are investing you can increase your savings to about 40% and your investment to 20%.