Do you do any investment at all?
2006-11-04 02:52:09 · 16 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
A lot of good answers here, so let me suggest that you save 10% of more, above the amount, than you live on today, e.g., your monthly expenses are $1500, save $150 per month preferably with a match from your employer in a 401k which is a tax-deferred savings vehicle.
I personally save 13% of my monthly salary with a match of 5% from my employer. By 2010 there will be no limit for some of us. This money goes directly in using an Automatic Withdrawal from employer into my 401k plan. But then I also save in a small savings account which I do end up spending.
Suffer today & avoid all & I mean ALL of the little niceties & extras, so that when you have no ability to increase your income you'll have some monetary cushion.
Here's an article from bankrate.com you'll want to read:
2006-11-04 04:18:13 · answer #1 · answered by takeitez2 3 · 0⤊ 1⤋
This depends on your income. Kind of a vague question. How much do you make? I am retired and my income is rather low but I save $50 every month in some form of investment. Here is my rule. Save something that you wont spend each month even if it is only $10. Reject some silly thing you want to buy and invest it instead. Alot of people feel they have to put a chunk away and when they cant, they wind up putting nothing away. When I was working I had my company buy me a $25 savings bond each month from out of my paycheck. The deduction was $12.50 a paycheck. These bonds are worth more than !5,000 now. I never missed the small deduction and now I have 15000
2006-11-04 11:06:33 · answer #2 · answered by juncogirl3 6 · 1⤊ 0⤋
I am sixteen and have a part time job. I get paid bi-weekly and I spend about 100 dollars for those two weeks. The rest I put in my savings account, which averages about 250-450 every month.
2006-11-04 11:01:43 · answer #3 · answered by . 4 · 3⤊ 0⤋
It depend on the individual, for some people is really hard to save, let say you want money withdrawal from your pay check before taxes: such as credit union, TSP, 401 k plan, 529 plan. In my case I only can save 10% of what I make. But others can save more.
2006-11-04 10:59:41 · answer #4 · answered by eagle 2 · 1⤊ 1⤋
I put into a saving accounts every month. I always have saved before buying rather than use credit. I save about £300 each month if I can.
2006-11-04 10:54:50 · answer #5 · answered by rchlbsxy2 5 · 2⤊ 1⤋
I am a college student so I don't save that much but I try to put at least 50 dollars into my savings account. When I get more for brithdays or student loans I usually put as much as possible. What I've learned to do is pay my bills and savings account first and then myself.
2006-11-04 11:03:37 · answer #6 · answered by amy k 2 · 2⤊ 1⤋
Not too much but it is really difficult. There are a lot of other ways I have found to save money. Here are a selected few.
Don't buy soda, drink water instead.
Don't eat fastfood everyday try to limit one per week.
Only buy what you need not what you really want.
It can be difficult but I have found it works....
2006-11-04 10:54:40 · answer #7 · answered by Antonio 3 · 3⤊ 1⤋
I save about $50 and it goes into my savings, I am a college student
2006-11-04 10:53:45 · answer #8 · answered by Anonymous · 2⤊ 1⤋
lol. not really! but i am saving up for this People to People trip next year and i have to save like 2,000 dollars!! but i save about 20 dollars per month. (not alot. WELL I DON'T HAVE A JOB! lol)
2006-11-04 11:00:13 · answer #9 · answered by H A N N A H(: 3 · 0⤊ 1⤋
...On an average I barrow some money at the end of every month ....Where to SAVE? Saving is just Shaving!!
2006-11-04 10:55:58 · answer #10 · answered by NUPAKRY 6 · 0⤊ 2⤋