% of income

southernscouser

Quasar wrote:

A BIG compliment hun! :kisses3: Hey, it's me, Q, remember?:p

Thanks hun!

Who gave you permission to wander over here anyway?

southernscouser

kathfisch wrote:

:rotfl: :rotfl: :rotfl:

Tea all over computer screen now! :rolleyes:

:rotfl: :rotfl: :rotfl:

The moral of the story?

Never trust a drunk man on the night bus who claims to be a Tibetan Wise Man!

southernscouser

Snich wrote:

we love you SS - don't be offended! You entertain us all - and make the 'board' a better place!

Thanks snitch! :kisses3:

I'd like to say that you make the board a better place aswell but a Tibetan wise man once told me.....................oh hang on!

JAMIEDODGER

i would go with the theory that if you are debt free, add up all your normal outgoings and make sure you are on best deals for all, set yourself a monthly "expenses" budget for holidays/beer etc one which you are comfortable with and save whats left

nearlyrich

JAMIEDODGER wrote:

i would go with the theory that if you are debt free, add up all your normal outgoings and make sure you are on best deals for all, set yourself a monthly "expenses" budget for holidays/beer etc one which you are comfortable with and save whats left

That is a really good way to do it because saving a set amount can lead to wasting what's left. if you just have what you need available in your pocket or account you are less likely to overspend.:cool:

JAMIEDODGER

cheers NR!

BobProperty

For your pension you are advised to save half your age as a percentage of your income, so if you're 36 you should be putting away 18% of your income.

aurora_borealis_2

Quasar wrote:

being self employed, my earnings vary from month to month but not by a great deal, so I'm able to save on average just over a third of my income. I have no mortgage and my bills are low (ie. £53 electricity for winter bill!).

However I am planning to cut back on my work a bit, because at the moment I hardly have any spare time, so I expect that I shall be putting away only 25% starting soon, but I am not too worried about that as my savings are fairly substantial already.

...please adopt my children

Chrismojam

southernscouser wrote:

A wise man from Tibet once said to me "you should try and save at least 10% of your gross pay!"

OK, so he wasn't from Tibet. And not particularly wise. But it's a start!

I mis-heard him and thought he said I should spend 150% of what I earn gross! :doh: :rotfl:

It was Alvin really wasn't it...:D

heppy23

sanfrancisco wrote:

I read a rule on here I liked a while back...

third...housing and bills
third...savings and pension
third...beer, holidays and food.

If my housing and bills come to more than a third of my salary does that mean I need to earn more money?