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What % of your income do you save?
Kavanne
Posts: 5,093 Forumite
How much do you save at the moment?
I read somewhere (on the wonder that is the internet) that we should be saving 10%. Does that sound about right? What about you!
EDIT: What I mean is, what % of your take home pay goes into a savings account each month?
I read somewhere (on the wonder that is the internet) that we should be saving 10%. Does that sound about right? What about you!
EDIT: What I mean is, what % of your take home pay goes into a savings account each month?
Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'
0
Comments
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Depends on how much you earn - I have saved probably over 70% (and what I spent is lent to family member to pay for deposit properties).0
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My outgoings are around £700 a month and I get in £1850, I have saved £5000 this year to date but have had 2 holidays also. I have no dependants."Man invented language to satisfy his deep need to complain."
''Money can't buy you happiness but it does bring you a more pleasant form of misery.''0 -
that £700 that you spend, out of 1850...does that include your rent or mortgage, food, bills, council tax, etc ...if so...wow! i must improve0
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that £700 that you spend, out of 1850...does that include your rent or mortgage, food, bills, council tax, etc ...if so...wow! i must improve
I am Mortgage free, sold part of my Garden ( bottom half on a large corner plot) and it cleared my mortgage.
My overheads.
£35.00 Electric
£35.00 Gas
£45.00 Building Ins
£40.00 Contents Ins
£28.00 water rates
£23.00 Phone /Internet
£36.00 Sky
£90.00 Council tax
£10.00 TV Licence
£50.00 Petrol
£300.00 Grocery & Pocket Money"Man invented language to satisfy his deep need to complain."
''Money can't buy you happiness but it does bring you a more pleasant form of misery.''0 -
I save around 60%.
That said, 10% is for "unknown" expenses and 50% is for known spending such as the next car, the annual holiday, Christmas, birthdays etc.
Something will always come along to grab the pot building up with the 10% in ... better car, bigger holiday, wife wants a new bathroom. So I've told her it's empty and not growing at the moment!0 -
I save £100 into my long term savings pot, this is the amount my tracker mortgage payment has reduced by.
£75 pm for my internet (quarterly) and motorbike insurance (annual)
£50 for christmas
£50 into company sharesave
So I save approx 25% of my net income ... I must admit I am doing without some luxuries at the moment!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
About 50% ...0
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Whatever's left at the end of the month....Reason for edit? Can spell, can't type!0
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20% at presentMortgage free
Vocational freedom has arrived0 -
Does paying into a pension count? That long term savings right?0
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