How many percent of your salary do you actually save? Whats the breakdown of your salary in terms of expenses?

Answer 1

Although very rare, I try to save between 20-25% of my income. This should be easy if you don't start out living on more than you make. If you get a raise for example, don't figure out how to increase your standard of living right away. Housing generally runs about 25-35%, transportation 15%, food 5-10%, entertainment 5-10%, charity 5-10%. All are VERY rouch estimates I guess

Answer 2

Years ago the breakdown went something like this.
You should be able to pay your mortgage or rent with 25% of your pay.
You should save and invest 25% of your pay. Part for emergencies.
You should be able to pay the rest of your bills with 25% to 40% ie; car note insurances, groceries, power, cable, phone, heat, trash, water etc. And the remaining % for auto fuel and clothing and entertainment, mag subscriptions etc.
Of course now that breakdown is nothing but a hysterical joke. For most people (90% of the population) 60% of their pay goes to mortgage or rent and 25% goes to car note and insurance and the rest goes to survival however they can mangage that...forget about savings....unless you are in a higher income bracket. Then you are fortunate enough to follow the above example.

Answer 3

My wife an I each pay ourselves 10%...most into 401k (7%) and the rest to cash savings.
The next is mortgage and associated at 29%
Daycare is next at 12% (1500/mo!)
Then Cars and Insurance
Utilities clocks in about 800/mo
Then the amounts fall drastically for groceries gas and kids college funds...

Answer 4

I read this in my boyfriends Maxium Magazine. It said that you should save at least one hour of your salary per day. So that equals 12.5% of your yearly salary

Answer 5

80% toward debt and household,10% for tithe and 10% for mad money.

Answer 6

10% is a good amount.............