How much do you save

[SL1CED]

Let's say you get two checks a month. How is it allocated, how is it saved?

Personally, I save 15%.

25% goes to rent(approx., includes utilities)
20% goes to food and gas
10% goes to phone bill/insurance
10% goes to sister's tuition
20% is disposable income

 

[Tylerman]

I have 15% automatically go to a 401k and I also contribute to a Roth IRA.

 

[TeknoViking]

sliced you are a good man helping out the fam like that.

 

[terraj]

As a household we save 50-60 %....no kids as yet

 

[jack of all]

Typical is $12000 a year not counting 401k. I have no budget, and the wife and I spend whatever we want within reason. It is nice both of us working and having really good jobs.

We spend $1300 a month on food.
Sent from my EVO using Tapatalk 2

 

[Pharm_Fed]

10% to 401k and $250 a week into a savings account. The leaves enough to live comfortably without the wife having to work if she doesn't want to.

 

[GetYucked]

I'm a graduate assistant, around 6500-7k of my money I never see, it just goes straight to the school. Of the other income, I'm saving 19.2% every week of what I make, only few weeks in as I was jobless before. Have to build up my reserves.

 

[Stang50]

401K thats it for me. Cant afford to save much.

 

[dempc]

14% goes directly into 401k ... 7% post-tax (ROTH 401k) 7% pre-tax (Traditional 401k)

$5000/year to Roth IRA

$1200 a month into Money Market Account

---- and of course my house payment, which I hope will SOMEDAY be looked at as investment again

 

[toe.the.line]

Just a rough estimate
15% into 457
20% transportation
35% home/food
30% disposable

 

[Dado5]

I put about $2000 a month in to my savings.

 

[stickfigure71]

i spend way too much on food that's for sure...i currently only put 6% of salarry into our work 401k...hopefully i will make more at some point haha and thus be able to to contribute more...My late father had a really great pension from his work, seems like those things have gone the way of the dodo bird....

 

[todkbear]

Out of every paycheck 10% goes into 401
1000 into savings account
1000 into a mutual fund
the rest pays bills, mortgage, and any other expenses

 

[infinitifxs]

I need to start contributing to my 403 was thinking 10% but as of now I save 3k a month and have 4k for expenses. What is the appropriate amount to save if making aprox 120k

 

[Incognito1]

I dont so much work on percentages. I like to keep a threshold amount of funds in my bank at any one time, this is my shit factor account. Then the rest of my pay after bills groceries etc.. goes straight on my 2 mortgages. My aim is to focus on them and get them to zero. No point in having large amounts of savings sitting in the bank on minimal interest when I have a mortgage interest rates that I can eliminate

 

[SL1CED]

I need to start contributing to my 403 was thinking 10% but as of now I save 3k a month and have 4k for expenses. What is the appropriate amount to save if making aprox 120k

I read a book called Rich Dad, Poor Dad and was able to step into about two seminars featuring this book.

They say 10% to IRA Roth, 10% to savings(make it controlled cause if it's an easily accessible one--you'll be tempted) this assuming you're entering the work industry as an employee of a small business or corporation. If an athlete, entertainer, actor, etc. where career span is much less they say save 30-33% of income.

I asked questions relative to my basis; if I'm coming out of grad school and getting contracted(hourly-based) internships, so vacation and traveling isn't a concern why not put all savings in IRA roth and get compounded interest rather than 10% IRA/10% ordinary savings. Most you can put is $5k and/or 20% of income in IRA roth.

So in your case, I'd put $5k in an IRA Roth yearly, so $600/mo.

If you're making $120k a year(pre-tax I'm assuming), that's about $72k post tax( not too sure the bracket at 120k I think it is 40%, correct?).

At $72k a year. That's $6k a month. I'd go $600 in protected savings, $600 in IRA Roth. If you have a 401k with a percentile matched by your employer, I think you are in the clear, if not put $300-$450/mo there too. Out of the $6k a month, you're about 25%(1.5k) into saving territory.

 

[GH-gut]

I manage 10-15%

 

[Virtuous]

None, really . I'm a student so it's a bit hard to keep cash around for food, pay for school/rent/bills, keep up with my girlfriend, fill my tank up, but some gear (okay, not a needed expense ), and then save.

I think I have like $400 saved total. Eff.

 

[surfbh]

When working, we average $1,000-$1,500 a week to savings. Money also goes to our pension and annuity from $7 to $15 hr depending on the local we are working in.

When not working it's -$500-$1000 a month on top of unemployment.
Work is picking up big time in the high paying locals so it looks good.

 

[phani]

my wife and I both got good jobs and we try and save atleast 20% of our earnings and manage to buy things we want.