let say you earn $80k a year, you rent, you support yourself, typical bills, how much should you save a month?
2006-11-22 08:58:01 · 10 answers · asked by mikey 2 in Business & Finance ➔ Personal Finance
We make less than half of what you make and have 4 kids and save 4 to 6 hundred a month.
2006-11-22 09:01:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Create a budget that's sensible. A good rule of thumb that will keep you good with creditors, etc. is the following:
35% Housing - mortgage or rent, utilities, insurance, taxes and home maintenance
20% Transportation - payments, insurance, tag or license, manintenance, gasoline, parking and transit.
15% Debt - student loans, retail installment contracts, credit cards, personal loans, tax debts and medical debts.
20% Other - all other expenses: food, clothing, entertainment, childcare, medical expenses and charity.
10% Savings - save at least 10% of your income throughout your working life. Pay yourself first!
Send me an email if you'd like more info.
2006-11-22 11:58:33 · answer #2 · answered by HELP4U 1 · 1⤊ 0⤋
It relies upon. My husband and that i placed away approximately $1000 (approximately 500 pounds) a month yet our difficulty could be different. we are saving for a downpayment for an even bigger residence and slightly one on the comparable time. i think of the 1st precedence could be to get rid of any and all expenditures. i think of the errors that many human beings do now's wait too long to objective for slightly one. as quickly as a women is in her 30's her fertility is going down and the probabilities of having problems with the being pregnant advance. Others make the errors of having young ones until now they're financially waiting. Be to blame mutually with your money now and it will make existence easier afterward.
2016-12-10 13:58:43 · answer #3 · answered by ? 4 · 0⤊ 0⤋
A starting point would be to save 10% of your gross income per month. But, you really need to decide what you want to save for and then plan accordingly. For instance, do you want to save for retirement? How much do you want to have when you retire and at what age do you want to retire? Or, maybe you want to purchase a house. How much do you want to have for a down payment and when do you want to make your purchase? Your monthly budget should be set up so that you are looking towards the future with a goal or goals in mind. Re-evaluate your budget on a regular basis to see if your spending habits and saving habits are moving you closer to your goals.
2006-11-22 09:31:38 · answer #4 · answered by momofsix 1 · 0⤊ 0⤋
That depends on how much your bills are. You stated typical bills but you didn't state how much those bills are so we can not give you an accurate amount to save.
2006-11-22 09:05:53 · answer #5 · answered by Medical and Business Information 5 · 0⤊ 0⤋
As a poor college student I manage to put away about 10.00 a month :) I suggest you buy a house instead of rent.
2006-11-22 09:03:05 · answer #6 · answered by Bob 2 · 0⤊ 0⤋
Save money? LMAO , not in this household with 3 teen-age daughter's that can smell money from 3 door's away.
2006-11-22 09:07:17 · answer #7 · answered by gonicki31 3 · 2⤊ 0⤋
Twenty percent or a little over 1300 hundred a month.
2006-11-22 12:12:02 · answer #8 · answered by Anonymous · 1⤊ 0⤋
save 10% of whatever you make...
2006-11-22 09:04:03 · answer #9 · answered by xangohill 2 · 0⤊ 0⤋
I have all the money I'll ever need..................................
so long as I die tonight.
2006-11-22 09:35:25 · answer #10 · answered by upside down 4 · 0⤊ 1⤋