What % of your income do you save?

Tayus

I save approx 37% of my income.

nzseries1

tiff wrote: »

But do you treat yourself too nzseries?

Yeah, on Saturdays I allow myself to go out and have drinks and have a bit of junk food, and on Tuesdays I go out and have a dinner out somewhere, or if I'm not feeling posh, Mcdonalds

Although living cheap is just as much about staying healthy as it is saving money!

I'm not a very material person so I find that I spend almost no money on clothes and "stuff". The clothes I bought early this decade still fit, and who needs an Xbox 360? The regular xbox I bought back in 2004 does just fine

In Sep 2007 I realised that I was spending almost 100% of my take home pay and realised that I needed to do a budget if I was ever going to save anything. And since then, I've stuck to it!

climbgirl

I save around 40% of my take-home pay each month. This doesn't include the money going into my pension which is around 15% of my net pay.

These totals don't include money set aside for quarterly/annual bills, I don't class those as savings.

Dinah93

We have joint finances, we get paid £996 and £1624 after tax, of which £850 goes straight into the house savings account, and £250 into the savings account for a new car. £135 goes into the emergency savings fund and £250 goes into the travel savings account. Our rent is £480. We go out at least once a week, and are members of a stupidly expensive gym, however we do a lot of extra income earners, and have upped the £10 a day challenge to £20 in order to save more towards our house deposit. In total this means 57% of our basic wages are saved on payday, although because of the extra income that we almost completely live off, we end up saving 80% of our salaried wage on average. We're 24 and saving to be first time buyers.

Robbie_Duck

5.9%! :embarasse

Dont know how anyone get get to 50+%!

a7man

I save ZERO from my wages although invest & play poker with my existing savings to make them grow!

Still early in my career though so once my wage increases I'll be looking at saving around 10-20%.

cash-magnet

As a rule, most months will see between 70-90% of my income go into various savings accounts. These high figures we are seeing are obviously from people like myself that probably have no mortgage and have full control with their finances.
For just over 2 years I threw all my spare cash at my mortgage to be rid of it and had various fixed length savings plans in place. Ok, I'll admit I did not go out much and I don't live in a massive mansion, plus I still live alone, but now I'm mortgage-free and have very small overheads to pay for, this equates to a high percentage of disposable income, but it doesn't mean it gets "disposed" of quickly. I recently had my washing machine break and as it was older than I realised (clean look makes you forget their age!) I decided to get a new one rather than getting it repaired so that was an unexpected £400 bill, but because of how my money is managed and structured, this was a real minor issue replacing the machine and was never in danger of turning into a stressful moment. I now look forward to enjoying a big night out for a meal with friends once a month, not extravagant, but definitely something that I look forward to. If I get a surprise invite to some event one month, I know I won't have to be too worried and ask do I have enough cash for that? If I see something in the shop that I actually need then I can just buy it. Buy a bunch of flowers on impulse for a friend just to see her face light up. It's a simple life but now it's a lot more stress free when it comes to cash. I highly recommend it. :T

This year is a big treat for me as I am going on holiday abroad for only the 3rd time in 10 years. The big bonus is it is all being paid for by the interest my savings have been earning.

Being mortgage free is such a fantastic goal to aim for, even if it does mean you didn't quite end up in a big house. Sometimes financial freedom requires you to make compromises in your life and mine was settling for a small property with a dry roof and a warm place to sleep that I can call my own.

LucyTheDwarf

I aim to save 40%. However in the last year I only saved 37%, and I'm really quite gutted. A few unforeseen events spoilt it.

daedalus_2

I save 35% monthly take home

Plasticman

I don't save a regular amount - it depends on what I need to spend from month to month. For example, if I'm paying for a holiday I won't save anything for a couple of months but other months I save 30% of my pay.

I have figures of my income & outgoings over the past 5 years and - having worked it out - I have saved (untouched) approx 25% of my take home pay. That doesn't inlcude money which I saved and later spent.

Last December it would have been over 30% but I've been spending well this year! I would have liked to have saved more but I enjoy nice things and having fun too much