What percentage of your payroll check do you save? How do you decide?

Answer 1

Before bills, the best advice is PAY YOURSELF FIRST...put it in savings (until you have a reserve of 6 months worth of net, after tax-income) as an emergency fund, and then pay your bills and see what is left, if anything--this is called DISCRETIONARY INCOME--and can be spent however you want.

Answer 2

As much as you possible can!! To decide, you should calculate all you monthly income (pay, interest, dividends, rental income, etc) and less your monthly expenses (utilities, groceries, car payments, gas, dining out, etc). And whatever is left over, you should put it to a interest bearing account (savings, money-market, 401k). There are many on-line calculators that you could use to figure out your monthly cash flow and savings percentage. Good luck!

Answer 3

i take 300 a wk out for my personal needs
the rest goes in an escrow account
and pay my taxes out of that and whever is left goes
into next years account or just rolls over to next year
at the end of a year with more then 5 grand after taxes,
it goes into a mutual fund with a higher yeld

the amount i choose is enough to cover my needs when retire

Answer 4

I put some in the 401K and all of the overtime money goes into a savings account. You should do a monthly budget and see what amount is good to put aside for you.

Answer 5

My Father taught me to save 10% of my paychecks every payday. I have been doing that since I was 17. I am 66 and very retired, comfortably. Good luck to you. Just .10 for every $1.00, go for it. It becomes a habit and is profitable.

Answer 6

As much as you can after all the expenses, about 50-60%

Answer 7

i live in the real world. so my answer is, "save?" i am lucky to pay enough the bills and mortgage.