How much money do you guys save

[Meliodas]

Hey Everyone,

How much money from your income each year do u guys save and what do you think is the correct percentage(approx) of income which one should save?

Example :

if you make 100000$/year

and at the end of year after dealing with all of expenses he is left with $10000

therefore he saves 10000/100000 x 100 = 10% of income

[universe]

What's the goal here?

There is no correct % of how much you should save.

Rather ask yourself how much you want to invest and in what.

[BlackMaze]

You should save some money for emergencies and invest as much as you can. 

[Nahm]

I’ve never spent or saved the ‘extra’. Always reinvesting. (Other than a 3 - 6 month reserve for unforseeables)

[8Ball]

It varies.

I'm aiming for around 10k a year, which would be around 25% of my yearly income.

[Tancrede Pouyat]

Dunno the exact number tbh, I'm still young (25) and raises and promotions have actually been coming pretty quickly, I don't believe tryharding the saving would really benefit me THAT much.

It's probably somewhere like 15-20%.

[Preety_India]

I don't know the number but I hardly save anything. 

I'm a big spender and I'm bad with money. 

 

[ted73104]

I actually do make around 100k, and I used to save like 80% of it before I bought a house. I live in Taiwan though and so the expenses here are way more cheaper than in the States. I only invest like 10% of my savings and so I'm a big hoarder.

[Meliodas]

@universe my goal here is to see that how people spend their money…. Since I am very interested in economics I really want to know how people have planned their finances etc.

[LastThursday]

I've topped out at 25%. Unless you're saving for a specific reason, it's good to build up a buffer of about 10k of your currency, for whatever emergency crops up. Anything over that 10k you should re-invest into yourself: improving quality of life and self-improvement and starting up a business - or invest into others: charity, help the poor, family etc.

[Gregory1]

6 hours ago, Fearey said:

I currently save between 80 to 85% of my monthly income on average. I rarely spend anything on things that doesn't directly improve my life, as i see no reason to do so.

This is it. 

[something_else]

I put 10% of my yearly income into safe ETFs, then depending on how much I spend each month I usually have about another 5-10% of my monthly earnings left over. Some months more, some less. I'm trying to avoid being frugal because I feel guilty when I spend money and I think that actually hurts me

I'm relatively young, just graduated, and the advice I've been given by older family is not to save too much when you're young, use the money to enjoy your youth while you can. Or to reinvest in yourself in some way. Just don't leave more money than necessary sitting in a bank account because it doesn't really do you any good there

Unless you live in the US and you have surprise $5000 ambulance journeys to prepare for, then maybe you should save more 

Edited November 4, 2021 by something_else

[Intraplanetary]

I save every month but I also spend, especially on something spontaneous. for example, the other day I saw this amazing winter coat, i mean it was love at first sight, it fitted me perfectly, it was made for my body and face! It was super expensive but I surly indulged in this spontaneity because why not, it was my moment. 

The best things in life are free; the second best are very expensive.