Your personal saving style/rule/method?

posted 11 months ago in The Lounge
Post # 2
14970 posts
Honey Beekeeper
  • Wedding: June 2011

We never really thought it out as a percentage, but as a dollar amount we were comfortable with.  Pretax…It turned out to be about 35% toward savings/retirement, 25% into checking for bills and spending … and the rest seems to disappear into taxes, insurance, etc.

Post # 3
6671 posts
Bee Keeper
  • Wedding: June 2015

chillbee29 :  I never thought about it. If I don’t have the money, I don’t spend it. I use coupons when available, shop around some and we don’t go out much anyway. We aren’t really frivolous spenders – it was a tough decision for me to buy a $70 purse a few years ago and I’m using it still.  Most of our ‘extra’ spending is to visit family a couple times a year. Saving just kinda happens, though slowly. I can’t wait to pay off the mortgage, it’ll look like a windfall!

Post # 6
8258 posts
Bumble Beekeeper

chillbee29 : mine has fluctuated over the years because my life has changed drastically from being a single underpaid person to married with a family and earning good money. We aim to keep our expenses low but we’ve reached a point where we don’t deny ourselves either. 10% off the top of my paycheck goes to retirement (hubs has a pension and also puts a smaller % into a supplemental plan) and then we save at least 17% each month. We decided to do a kitchen reno recently and we are aggressively paying down the heloc (over 10% of our income) which is why our savings is low right now. Our savings cushion is decent enough that I want to minimize the interest we pay on the heloc.

Post # 7
488 posts
Helper bee
  • Wedding: July 2016

27% of my income goes to taxes, 401k, health insurance and HSA.  My paycheck goes into my personal account.  I transfer 60% of it to Darling Husband and I’s  joint account.  He does something similar.  I save 50-60% of the money that remains in my personal account.  I often tend to use this saved money for joint things.  I will use a lot of it for my upcoming maternity leave.  The other money I use towards personal spending and the occasional personal bill.  

In our joint account, we generally save 20-30%, another 35% goes towards bills, and the remaining gets spent on home improvements, date nights, amazon, misc bills like car maintenance or vet appointment and currently towards preparations for the baby we are expecting this spring. I often feel as though we should save more of the money that goes into our joint account but we have always had a good emergency fund and padding when random things come up so I try not to be too hard on ourselves.     

Post # 8
256 posts
Helper bee
  • Wedding: October 2019 - .

I have direct deposit set up so that when I get paid, 20% of my earnings go straight into saving. In addition to that, at the end of most months, I’ll transfer what’s left of my checking account into my savings account. Years ago when I first started saving, it was helpful for me to set small goals. I’d start by saving 2k, and then once I saved 2k, I pretended that I was at square one all over again until I got to 4k, and so on. That way it was easier for me to keep to my goal and not see all of my savings as usable money. 

Post # 9
1052 posts
Bumble bee

I buy what I want and put the leftovers into savings. It works out to about 50% going to savings. I dont spend a lot on myself.Darling Husband is similar. 

Post # 10
709 posts
Busy bee

Post tax (roughly half with federal, state/SS etc), our breakdown is about 55/5/40.

Needs: We live in a HCOL and have a huge mortgage (I suppose some of that can be considered savings, but only a third is going towards equity, the rest is mortgage interest). One kid in daycare, another one on the way who will need a nanny- not cheap! High property taxes. High state taxes. 

Wants: Vacations, eating out, clothing etc. (we do far more of the former two!)

Savings: 401k and ESPP are automatic. Additional savings and mature ESPPs get moved to other accounts. 



Post # 11
3581 posts
Sugar bee
  • Wedding: January 2021

chillbee29 :  I am all about the automated withdrawals/deposits. I have two different types of investment accounts (short term and long term) and I have a certain amount of money automatically deposited from my checking account every paycheck. My fiance and I also have a joint account that all our bills come out of that we both overpay into each month that builds up pretty quickly. We use that money for home repairs, renos, furniture and other big spend house items, etc. 

Post # 12
402 posts
Helper bee

We save 7% of pre-tax pay toward retirement, and almost 20% take home pay goes into a savings account every month. We pay all our bills and divy up a certain amount of cash for Other expenses including groceries, gas, eating out, fun things. I just realized the “other” is 30% of our take home income a month…which I feel is a lot despite it including groceries. Perhaps something to work on.. 

Post # 14
9282 posts
Buzzing Beekeeper

About half goes to taxes. From what’s left, it’s about 25% needs (with our mortgage, property taxes, and daycare being the biggies), 5% wants (mainly vacations and season tickets), and the rest savings/investments. 

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