What % of your income do you save?

unhealthyman

To the people saving large percentages (50%+) - do you pay rent/mortgages? I can't see how it would be possible to save that much unless you are getting paid a lot more than you need. I save about 20% and that is fairly ruthless. At a push I could get it up to about 30% but the rest goes on rent, bills and food... (Although being a grad in London, I think I pair a fairly hefty chunk on rent and transportation.)

MumOf2

Went from saving 10% to 60% in February this year - it goes out as soon as my salary is credited so I just budget the rest of the month on what's left. Don't earn much but realised that I just had to get some serious money together to pay substantial contribution towards children's postgrad education later next year. I'm very frugal...

Doomcow

25% of my wages go to specifically pay for my flat.

i reckon im saving about 50%, and spending the other on food and entertainment and fuel.

brewerdave

We are "mortgage free" and so can save ~ 40% of our "take home" pay.Would be more ... but we like our holidays!!

Norton_Blade

Exactly 52% of my wage comes out and gets filtered into three savings accounts on the day after pay-day. Only around 20% of my wage is taken up by my board.

Anything that gets left at the end of the month is swept into savings and anything extra I manage to earn also goes in emergency savings (the only savings pot I will let myself dip into).

Kylie

I read somewhere about a general % you should put away towards your pension/superannuation. Possibly your age? Sound familiar to anyone?

bendix

Doesn't it depend how you calculate your income, and what you determine as savings.

If you consider your income to be total net income (including pension contributions after tax relief), then my breakdown is something like this:

Nearly 38% goes into my pension.
Another 30-35% is saved.
And I live on the balance of around 30ish percent (including paying rent and all living costs).

I also have an extra £1200-1500ish a month or so being earned as interest overseas - all of which is reinvested so I suppose my savings rate should include that also.

^!£$&

I save 25% of my take home pay per month
The rest goes on rent (which includes all utilities) ,fuel, car insurance, food, & entertainment!
The day after payday my direct debits go out for my savings so I know exactly what I have left per month to spend!

nzseries1

I save 55% and I live by myself in a cheap rented house, I live on lentils and chickpeas and other such cheap foods for lunch and follow every piece of MSE advice that I can!

But I just love saving, it's like an addiction!

tiff

But do you treat yourself too nzseries?