What percentage of your wage do you save?

Cornish_mum

We save ~10% of our take home into long term savings (ISA S&S passive index) and  ~10% for short to medium lumpy costs and potential future mortgage overpayment when our fix finishes (regular savers then move into fix rate bonds). We pay essentials, entertainment, luxuries and holidays out of remaining income. 

I currently contribute 30% of my pre tax incomes into a hybrid DB-DC pension scheme; my employer also contributes 21.6%. Note quite a lot of the employer contribution’s is to fund a scheme “deficit” so doesn’t benefit me directly at all.

I am married with 2 kids, early 40’s and aiming for FIRE. We earn good salaries, and our very thankful to have the privilege to be able to make these choices. 

Sg28

Im 40 married with 1 child. 

I currently save about 15% but this will go up to around 36% once my fixed rate mortgage deal ends and I pay it off later this year. 

Macsidia

Currently aiming for 70%

enthusiasticsaver

We retired early at age 58 so are in drawdown phase rather than saving. Out of our net pension though we do save 25% but that tends to cover holidays, home improvements, cars etc. 

Bald93

Currently saving 16% a month but this will certainly reduce once we hit go on the new kitchen, hopefully by the end of the year. 

100% of my bonus goes into savings, with some jumping back out for Lego purchases. 

badger09

Bald93 said:

Currently saving 16% a month but this will certainly reduce once we hit go on the new kitchen, hopefully by the end of the year. 

100% of my bonus goes into savings, with some jumping back out for Lego purchases. 

Just fleetingly, I imagined you building your new kitchen out of Lego🤷🏼‍♀️

NameWithheld

It varies from month to month, but I budget for minus 15% of gross basic pay. That's because I am gradually moving money from savings to pension via salary sacrifice, i.e. I am subsidising my reduced take home pay with money from savings.

I'll be retiring soon and this saves a lot of tax and NI