Is anyone good at math? How do I figure out 20% goes into my savings and the rest goes into my checking?

Question

I'm talking about take 20% from my paycheck.....

Answer 1

Let's say you make $1000 .... multiply that by 20% (.2) and that's what you put into your savings.

1,000
x 20% (.2)
= 200 -- goes into savings

Answer 2

Well first you have to decide whether you are putting 20% or Gross or Net. Either way the process is the same but many people tax, tithe and save on Gross.

It is great that you want to save!

I am sure by the time that I am done typing that you will have many good answers but the easy way that I do it is:

If you make 500 for the week or lets make it a bit harder $673.54 - if I am just doing in my hand I would do that at 10% which is just a matter of moving the point $67.36 which then you times by 2 which would be $134.72.

I waited on tables a bunch through college and trying to figure out tips at 15 - 20% in my head on the run.

Good Luck saving

Answer 3

This is fairly easy once you get the math down correctly.
Simply move the decimal point ONE place to the left, then double that figure:

e.g. Let's say your total take home, after taxes and other deductions, is $400.00 (four hundred dollars)

Move the decimal point 1 place LEFT: $400.00 now becomes $40.000 (now you have forty dollars)

Double that amount (or $40 times 2, or $40 + $40) and you have $80.00 (eighty dollars).

Now you started with $400.00 and you're going to put $80.00 into your savings account, if you take $80.00 away from $400.00 that leaves you with $320.00 to put into checking.
($320 + 80 = $400)

Don't forget to make an entry into your check book for the $320 deposit!

Answer 4

Y = paycheck
Y x .20 = 20% of your paycheck

to get a percentage from a # just multiply # by percentage.

Answer 5

ok take the amount your paid

divide it by 5

the answer is the amount to put in savings

take away the answer from the original amount, the new answer is what should go into checking#

note that 20%x5 = 100%

Answer 6

I'm sorry, but you're begging for this. "Good at math"??????????? This is basic elementary school math. It doesn't get too much simpler than this. Please make sure you can do the basics. If not..... you will lose out on much in life!

Forget why you didn't learn this stuff. You're an adult now. Just do it!

Answer 7

Take your pay and multiply by .2, then deposit that number into savings...

Regards,
Joe Ballarino
http://www.jbnaples.com

Answer 8

try these links its a blog perhaps u'll find more information there


http://www.lofinance.blogspot.com