What percentage of your net monthly income do you save each month?

nearlyrich

With no mortgage or rent and fairly low bills I am currently saving around 72% of my salary (after tax etc.) into my pension, my ISA (S & S) and my First Direct monthly saving plan. When I get a bonus (quarterly) that goes into my travel fund. I am saving to give up full time work in around 4 years time....

AlwaysLearnin

We currently save approx 50% of our net income, plus our pension contributions from gross salary. We're saving for kids futures (not sure specifics yet!), and hopefully the choice of early retirement should we choose too.

We're able to do this as we hit our mortagage hard in the past, then we established an amount we're comfortable living on which we've stuck pretty close to, therefore as our income has increased so has the percentage. This also keeps our expenditure down, which in turn should keep longer term income requirements down as it's what we're used to.

Gromitt

I save about 70% of my income. 20% is spent on bills, 10% on my pension*

* - Paying 2% into a company pension scheme means I get the company paying in 8%, so its a no-brainer. The performance of it sucks however. My "real" pension is managed by myself which has significantly out performed my company pension every year.

Zekko

From net income it works out to:

27% Bills
59% Savings/Investments
14% Pension*

*Employer also pays an additional 7% of my gross salary into my pension.

racing_blue

2012, % of net income

saving and investment, 26%
learning new stuff, 19%
mortgages, 14%
council tax, utilities, home furnishing & maintenance, 9%
food, clothes, grooming, 7%
car 1 (include depreciation), 6%
car 2 (include depreciation), 4%
holidays, 4%
hobbies and leisure, 2%
work expenses, 1%
charitable giving, 1%
"everything else", 7%

lawstudent

leromancer wrote: »

My problem (well if it is one lol) is that I'm French so every year over the summer I have to go back home with my kids so my family can see the kids (I understand but it's very very costly and gets us in debts each time!!). I'm sure I can try to diminish our food bill more. That has become a big expense especially since my growing little boy has a growing appetite I wish I could eat like that without putting kilos on :'(

Just a suggestion, why don't you invite your immediate family to the UK one year? Even if you pay to feed them it's probably going to be a lot cheaper and might be a nice change for everyone.

robatwork

leromancer wrote: »

My problem (well if it is one lol) is that I'm French so every year over the summer I have to go back home with my kids so my family can see the kids (I understand but it's very very costly and gets us in debts each time!!).

Obviously depends on your relationship with your family but can't you ask them to fund your summer travelling, as it's them you are going to see? If I was your parent I would be more than happy to help you out to see my grandkids once per year.....

bon chance

Maestro.

Some people in this thread are incredibly lucky to be able to save as much as they do. (Over 50% of your income - what do you people do?)

Generally in the winter I save nothing at all - as the heating gets very expensive. During the warmer months I generally manage to save 5-10% a month of my income, to be fair I could save a lot more but I refuse to live off baked beans and have no luxuries when I could be enjoying the day.

Dragonista

leromancer wrote: »

oh god but how do you manage that???? I feel like bursting into tears! (

Don't feel disheartened!

I don't have kids or a car for one... if I had those expenses I'd be overspending for sure!!

doughnutmachine

i save about 80% of my earned income. tbh, i would love to save less and have a more fun life... but it's not likely to happen