How much money do you put into a savings account each month?

Question

I'm just wondering what other people put aside, I want to set up automatic transfers each pay check to my savings account.

Answer 1

I recommend 10% at min. of your gross pay that is after taxes. Look at fidelity on line they are a good place to start a 401k. Did you know that not only do you save tax dollars on a 401k they will also give you a tax credit for saving you can save as much as 500 on 2000 investment if you were married as mush as 1300 or slightly more based on tax bracket.

Answer 2

We put $300 a month into our savings account. The best way to do it is to make up your monthly budget and put down what you can reasonably afford and treat it as a responsibility. Before you know it, it will be a habit. When you get a raise, raise your savings a little. If you have any 401k's (or whatever they're calling them these days) through work, split the money between the two accounts. Always put in atleast any amount that your employer will match. Good luck.

Answer 3

Instead, you should set up an automatic transfer into a Roth IRA or some sort of savings for retirement. Way too many people start saving money for retirement too late. All those old people at Wal-mart, they don't work because they want to, they work because they HAVE to.

Answer 4

I aim for $100 per month minimum. Some months I hit it...others I don't. I'm a teacher, and this summer I am working part-time as a bank teller, so I'm picking up an extra paycheck. I'm saving half of my take-home pay from that.

Answer 5

About 20% each check. I probably woudn't do that much, but my fiance pays most bills and I am saving up for both of us for a house and a bad a** honeymoon.

Answer 6

$200

Answer 7

i work on commission so it depends - but when i worked on a salary i put 15-20% of each check into the savings - and when i got a raise - i put all of that extra amount in there - my checks did not get smaller - they stayed the same - but my savings went up faster!!

Answer 8

Zero! I wish I could afford to save some money but it is a real accomplishment just to get my monthly bills paid! Still waiting for my ship to come in!

Answer 9

That's a good way to do it. Every time I go into the bank to deposit money, I try to put $50 bucks into my savings. It really helps when my car insurance bill comes (every six months). Sometimes it's every week, sometimes every other, but it gets there.

Answer 10

Uhhhh, none. I just got out of college, flow is kind of low. But I guess I could put away at least 50 each paycheck.