(Closed) How much do you save?

posted 5 years ago in Money
  • poll: How much do you save (sorry the poll isn't set up very well!)?
    I don't : (15 votes)
    17 %
    1-5% : (8 votes)
    9 %
    6-10% : (7 votes)
    8 %
    10-15% : (12 votes)
    13 %
    16% : (0 votes)
    17% : (2 votes)
    2 %
    18% : (3 votes)
    3 %
    19% : (2 votes)
    2 %
    20% : (17 votes)
    19 %
  • Post # 3
    Member
    7312 posts
    Busy Beekeeper
    • Wedding: October 2011 - Bed & Breakfast

    We put 10% into our retirement plans and save another 20% of our take-home pay. So about 30% of our income goes automatically into savings.

    Post # 4
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    We save about 65% of our takehome every month. Some in retirement, some in cash!

    Post # 5
    Member
    2902 posts
    Sugar bee
    • Wedding: March 2014

    We also save about 65% of our take home pay. 

    Post # 6
    Member
    3568 posts
    Sugar bee
    • Wedding: September 2013

    We each put 6% in our 401k plans, and I’m not sure about the actual percent of cash. We each put around $100 in our own savings accounts per paycheck if we can.  I usually save the majority of my tax refunds…Fiance tends to have his spent before he even gets it! 

    Post # 8
    Member
    8461 posts
    Bumble Beekeeper
    • Wedding: April 2013

    My husband puts 6% into 401k (his company matches) then we save about 10% of what he takes home after that each month (I don’t work).  This is separate from our 6 month emergency fund and home improvement/remodeling fund. 

    Post # 9
    Member
    330 posts
    Helper bee
    • Wedding: October 2012

    Between various retirement accounts and cash, we save upwards of 20% of gross income.  Most of it we don’t even miss, because it’s pretax retirement accounts.  Then on top of that we put away what we can every month, which varies month to month.

    As long as numbers are generally going in an upward direction in the bank accounts, I don’t much pay attention… I guess we’re really lucky to be in a position where that’s a viable savings strategy.  But I do have to remind Darling Husband that just because there’s extra money at the end of his 2 week pay period, that doesn’t mean he’s obligated to spend it. 🙂

    Post # 10
    Member
    54 posts
    Worker bee

    We save 70% of our take-home pay. This does not include the money that is deducted from every paycheque that goes into my defined benefit pension plan because I do not have any control over it. Because I do not know what the pension will look like when we eventually retire, I do not include it in my savings/retirement calculations. If I end up getting a decent-sized pension, it will simply be gravy.

    By “saving” what I mean is we invest 60% of our take-home pay and the other 10% of take-home that we save each month is put into a short-term savings account to fund our travel habit.

    We are able to save 70% by spending money very, very rarely on things we do not care about (clothes, shoes, cable TV, cars, mortgage, frequent meals out, lattes, alcohol, etc.) so we can have lots of money for what we do care about (early retirement, financial independence, and lives full of lots and lots of international travel and adventure sports/activities). We are also childfree-by-choice which will make a big difference in the long run as well. 

    Post # 11
    Member
    1081 posts
    Bumble bee
    • Wedding: December 2010

    I save 12% into retirment and 20% into savings. 

    Post # 12
    Member
    351 posts
    Helper bee
    • Wedding: November 1999

    OP, do not feel bad about how much you’re saving.  If you’re still fairly young and saving, you’re doing well.  You’re going to get a lot of responses from people who save a lot and therefore will want to respond to your question.  People who don’t save much are probably not going to respond to your question so responses will be skewed.  Don’t take this to mean you are not saving enough.  If you are truly concerned, speak with a financial advisor.

    I spent half of my twenties in undergrad and law school incurring debt.  The other half I spent paying off school loans and trying to make ends meet.  It wasn’t until I was well in my thirties before I was really able to start saving a ton of money. 

    Post # 13
    Member
    2055 posts
    Buzzing bee

    I was always taught that solid saving and investing are essential parts of smart money management. I still employ this now that I am older, and I think you are wise to do so, as well. 😀

    Post # 15
    Member
    1581 posts
    Bumble bee
    • Wedding: June 2011

    we save about 40% of our take home pay and put it in savings – but we have my car note and student loan that come out from savings every month so it may be more like 30%/35% or so.  Our account doesn’t reflect that though because we love to travel so we use some savings for for little vacas and weekend trips to stay sane

    Post # 16
    Member
    9552 posts
    Buzzing Beekeeper
    • Wedding: August 2013

    I wouldn’t really consider myself “normal” but I save almost half of my take home pay. Basically, my fiance and I both max out our 403(b)/401(k) and contribute the max to Roth IRAs and I put 10% of the left over pay into a savings account and I put $60 per month into an HSA which I use as an investment tool. I also have a retirement plan through work, but I don’t really count that. Basically I try to use as much tax-free investing as possible. But I know that we won’t be able to keep up this pace once we buy a house and have a kid and one or both of us may go to part-time work. So we’re investing heavily now, knowing that we’re likely going to cut back some in the future. 

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