What % of your income do you save?

ShelleyC_2

Interesting question thats given me a :eek: moment!

Currently renting, predictable outgoings ~ 20%, over past 6 months I've saved an average of 60% which means I've frittered the other 20% :rotfl:

manic_saver

I save 25% for long term savings (isa). About 10% for other stuff like doing up the house. I don't like putting all my savings in the one basket!

Fire_Fox

The plan is to split my income three ways: one third essential outgoings (basic food, utilities, service charge), one third for non-essentials (phone/ internet, socialising, shopping) and one third savings. :cool:

I am on a low income as I only work part-time around my studies. I am, however, mortgage-free and try to earn extra money where possible (see sig). Need to get my head around matched betting to really bump up my savings tho! :money:

ajmoney

Take home approx £1800
straight to savings on pay day £700
Outgoings £200 (that is them halved with my partner)
Mortgage overpayment £60
I save around 40% which I am really happy about:j

This obviously doesn't cover all my wages as I haven't included food. We go on lots of holidays so I don't tie up too much of my money

kingmonkey

unhealthyman wrote: »

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.)

Childless, working long hours, paying rent.

simonleblank

I save about 15% of my take home salary into pension and isa, with very little mortgage left. Do not want to be richest man in the graveyard!

cashbackproblems

Have just started working after graduating and am earning around 1.2k take home pay, out of which I save about £900 (so approx 80%) as my outgoings are

- £20 mobile
- £35 gym membership
- £50 lunches for the month
- £80 travel
- £50 misc
- (+£250 goes into HSBC Reg Saver and rest into ICICI online account)

Luckily I live rent free at home until next yr when I move down to London and will be paying rent etc so better make the most of it! But I will be earning a bit more so hopefully will still be able to save around 40%.

withnell

Does it really count as saving if it's just putting money aside for Christmas? - I see that more as budgetting, and saving being for at least 12 months in the future

FairyElephant_2

20% of my income into 'long term' savings (saving to take time off work after having a baby - if I ever make it that far). Another 5% into 'short term' for hols spending, treats, pressies etc.

Also we save whatever is left in our joint household account at the end of the month, into our 'holiday' account. Usually aim for about £100 month. Would be more but currently overpaying a bit on the the mortgage too!

DH doesn't ususally manage to save more than the odd tenner or so, as he has to pay the CSA......

gelato_cat

At least 50%. I'm buying a house soon and will continue in this vein.

Suze