In this country, it is really difficult to save money. My salary is eaten up by mortgage, utilities, cars, others. I can save less than 10% of my total income. How about you?
2007-02-03 10:39:06 · 19 answers · asked by Beckham 2 in Business & Finance ➔ Personal Finance
I recently read that you should have 3 months salary in savings at all times in case of illness or accident or whatever. I would imagine that 10% of your salary is not three months salary but it's probably pretty close. I have about $3,000 in savings (which is not 3 months salary)....I made a budget and figured into the budget how much we were going to put in savings each check. Also, I only keep enough money in the checking to pay bills. If I want something extra, I have to take money out of savings or spend my "allowance" (hubby and I get $50 a week each for lunch out, coffee, newspaper, etc...I get in trouble when I just "swap" the debit card). Basically that means any "disposable" income not spent on bills is already in savings and hopefully, it will just stay there...
2007-02-03 15:22:46 · answer #1 · answered by MK 2 · 0⤊ 0⤋
There is no meaningful average bank account balance. Even if there were, many people have multiple accounts. The average US resident is in DEBT. If $19,000 is your net worth, you are doing better than most Americans at your age.
2016-05-24 00:32:53 · answer #2 · answered by Ethel 4 · 0⤊ 0⤋
I dont save anything at the moment. My bloke got made redundant, now needs surgery and has been off work ages. All our savings went on just paying the bills. When the rainy day comes we're gonna get so wet!
But I did read a thing years ago that said 10% was the amount you should look at saving. But theres been inflation etc since then.
2007-02-03 10:44:41 · answer #3 · answered by jeanimus 7 · 0⤊ 1⤋
Saving 10% of your total income is a good start. Many people don't save anything at all.
2007-02-03 10:41:47 · answer #4 · answered by MOM KNOWS EVERYTHING 7 · 1⤊ 0⤋
about the same. Its hard to save when you like nice things or have a famliy. Im 23/single mom and I have a total of 3K between savings and checking. I guess thats pretty good
2007-02-03 10:42:01 · answer #5 · answered by dunno 3 · 0⤊ 0⤋
£1`500.
2007-02-03 10:41:10 · answer #6 · answered by ? 5 · 0⤊ 0⤋
I know how you feel.
I struggle to save.
But somehow I get there.
My average balance for savings is around $1000
average for checking is $69
2007-02-03 10:41:49 · answer #7 · answered by Cuddly Lez 6 · 0⤊ 0⤋
Well i currently have £10 in mines. But im a student. That's expected i suppose lmao!
2007-02-03 10:41:12 · answer #8 · answered by chris c 3 · 0⤊ 0⤋
I recommend moneysavingexpert.com for you. If you follow Martins advice, you will save more.. good luck, Mark
2007-02-03 10:53:42 · answer #9 · answered by Anonymous · 0⤊ 0⤋
about 10000 am a students as well
2007-02-03 10:46:35 · answer #10 · answered by suby 3 · 0⤊ 1⤋