What percentage of your salary do you save?

A_Nice_Englishman

We've had threads on other boards such as 'what proportion of your salary do you spend on your mortgage?' so I'd like to start one here.

What percentage of your income do you save / invest?

I'm aiming for 50% myself

Aegis

As much as possible. However, my cash flow tends to only allow for a small amount of saving each month at the moment due to my financial circumstances.

Luckily for me, I have emergency funds that allow my investments to grow without having to worry about when I'll be needing the money, and I have a fantastic family who can look after me until I reach what they perceive to be financial stability. Fortunately most of this arrangement is essentially in the form of an emergency overdraft facility* if I need it, so I don't feel like too much of a leech

I have every intention of keeping my outgoings at their current level as my salary rises, so the percentage will grow from the maybe 2-5% it's at at the moment to significantly higher in, say, 5 years time.





* Maybe this is not a good thing in light of NRK's latest use of their emergency overdraft...

reehsetin

a 3rd at least, usually 2/3rds

Walletwatch

I have all my expenses paid for by the firm I work for, so essentially, 100% of my salary goes into savings. Actually, 200%, coz i also do freelancing in addition to my job, and that nets me a variable amount nearly equal to my salary

mary

This is influenced by so many factors - not least of which I imagine is if you are married/partner (whatever) and with/without kids.

I save 100% of mine, but we use husband's to pay bills!

A_Nice_Englishman

mary wrote: »

This is influenced by so many factors - not least of which I imagine is if you are married/partner (whatever) and with/without kids.
I save 100% of mine, but we use husband's to pay bills!

Good point! Perhaps I should have said 'household income' rather than 'salary'?

Ivana_B_Rich

I put 43% away as soon as I get paid, then whatever is left at the next pay day also goes towards savings.

Thanks for asking this it's made me think I could probably do a bit more. I'm going to 50% from next month

Mortgage_&_debt_free

45.61104%.....approximately

Jonbvn

Overall, I would guesstimate that 50% of our income is "retained".

I do not use the word saved, since quite a large chunk of change is used for mortgage overpayments, after maxing out the ISA's.

Lotus-eater

Not enough, thinking about it. We are both self employed so don't have a regular income, so the percentage is hard to work out. However, thinking about the accountants figures for last year I think it was about 17%. Although our money is so up and down don't quote me on that

Must do better....

margaretclare

Approx 1/3rd between us, and we're two retired wrinklies.

Mind you, the savings sometimes get used. We've just changed the car for a newer model, had to get a new fridge-freezer, but it's very nice to be able to do things like that out of savings instead of taking out another loan.

Margaret