How much do you save?

[Requiem]

I'm curious about how much of their income people here save and where they save it.

Out of the money you make, what percentage do you save? This is approximate of course, and you can answer in whatever way you like. For example, you can answer how much of your gross income you save including retirement accounts, or you can answer how much of your net income you save on your own. If possible, explain which method you use in your calculation. To be clear, I'm looking only for a percentage, not an actual number. I'm not looking for anyone to reveal their income or net worth or anything like that.

Where do you save most of your money? Mattress? Savings account? CD's? Bonds? Individual Stocks? Mutual funds and ETFs?

Are you satisfied with the amount that you save?

[Mounds]

Currently, I'm putting 20% of my income towards debt. Once my debt is clear, I will put 20% towards my savings. For now, I'm doing more like 5% to savings.
Plan is to invest into RRSP's as well this year cause I think my income is going to be too high otherwise.

[Marc D]

10% of my net income every week goes to Savings
7%+3% employer match of gross income goes to my 403b

Great site btw!

[InterfaceLeader]

I put 8% into my pension, it's fixed salary so employer contributions are a lot higher.

No other savings at the moment, which is terrible I know, but I just recently paid off some debt and I'm learning to drive which in the UK costs a small fortune. Once that's done I'm hoping to put around 10% into my own savings.

[SomeRandomGuy]

Over the past year I've saved roughly 30% of my income for a big planned purchase. Since this was relatively short term savings I've been saving in a high-yield savings accounts. Once I get these purchases out of the way I'll start putting the savings into retirement and/or investment accounts.

[TheLifeQuaker]

I have it set up so 20% of my income is immediately put into a saving account.

Most of that money I then manually put into whatever investments I'm led to put them in at the time.

And I'm happy percentage wise. I would prefer my percentage wise was even higher than it currently is - but I don't see my preference for more ever changing in this case.

[ssandra]

none.

Bad, I know...

We are resolved to save what we have left by the end of the month.. but usually it is nothing, or next to nothing, or we think "he, we have this much left.. lets buy this or go out to diner!"

Oh well...

Someday I'll grow up and save for retirement... when I'm a millionaire and can afford other people to administer my money

[darkun]

This is a bit tricky to answer as my life has been so unpredictable for so long. Currently I am spending 2 to 3 times more per week than I earn. However it is because I am about to move to England to get married - weddings are pricey!

Before my fiancee returned to the UK before Christmas, we were living on my wage and saving hers. Sometimes we wouldn't have to spend all of mine so that would go towards savings too. So last year up to 50% a week was going straight to the bank and earning 4.45%

By law employers here have to contribute 9% of wages towards your future retirement fund - more savings for me

In the future when we have our own house, and aren't being held over a barrel for renting, a large proportion of savings will go on the mortgage.

[Carl Carlson IV]

10% to my "don't ever touch this fund"

and 10% to "saving this to reinvest in something fund"

Will be more once the debt is paid off!

[andrew]

I save all my money, and take out what I need to spend on what I need. Kind of backwards.

I also don't have a 'real job' and make money online selling my software, so it's different than most people.

[AdamA]

Roughly anywhere from 40-50% of my income (that includes 401K/retirement). The rest gets spent on bills, living expenses, etc.

[suit up]

Originally Posted by andrew

I save all my money, and take out what I need to spend on what I need. Kind of backwards.

I also don't have a 'real job' and make money online selling my software, so it's different than most people.

Making a decent living off of that? What kind of software do you sell?
Is Polyman generating much yet? The quality of some of the posts are unbelievable.

[gene2009]

I don't save money. They come and then they go away. It's better earn more than save more.

[SatvikBeri]

Currently I save 0%, because I'm unemployed.

Before that, I saved a little over 25%. $5,000 to Roth IRA, the rest to my savings account.

[andrew]

Originally Posted by suit up

Making a decent living off of that? What kind of software do you sell?
Is Polyman generating much yet? The quality of some of the posts are unbelievable.

Wow thank you so much for that, it made me blush (and that hardly happens)!

No, I don't make any money off of that site, and don't plan on having money be a focus, just as much value as I can provide.

I've been a designer/developer for the past 8 years and run a Flash development company on my own called Desuade where I sell a highly technical niche product (Google "partigen" if you wanna check it out ). It makes enough to not have to work a "real job" the past 2 years, but it's not huge, nor my biggest passion anymore.

[codefreeze]

Well my expenses are about 25% of my net income at the moment. That's not because I earn a lot, but because I don't spend at lot! My salary is pretty average. So I guess my net savings are around 75 - 80%. Mostly I use the excess to pay down mortgage debt. I have an emergency fund too (about 3 years expenses). I have normal savings too. I love to travel, so once every three years or so I have a splurge.