What % of your monthly wage do you save?

GinG

GinG

GinG

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Ok so i still live at home, however when i was 18/19 i rang up a bit of debt, and paying for it now! However paying off my debt i still manage to save some money, not leaving too much to spend, however still about £50 - £70.

I put away approx 28% of my income a month into various savings / ISA's / share schemes.

Just out of interest just wondering roughly what other people who are saving, what % of wage they try to save a month?

Just to add i can earn anywhere from 900 - 1100 a month (average £950)
 
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no idea about % as it varies from month to month, i've been known to save anything from £0 to £800 in a month.

I sooo wish I could save £800 every month :(


Edit: Living my with my fiancee have about 30 years left on the mortgage, no kids yet. I will be needing a lot more over the next few years I think :(
 
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i put £250pcm in my ISA, should increase it really as its been the same for around 3 years.

When i started it was 25% of my take home pay.
 
I range from 30% to 50% depending on what bills get handed to me. I am making the most of living at home :D I don't earn a fantastic amount but at least any more money means more disposable income/savings
 
About 8% of my take home pay, plus another 12% into my pension.

It was so much easier to save before I got a mortgage...
 
Shame my car broke and i had to wipe my savings out :(

I have sorted out finances so hopefully this time next year will be debt free, probabally wiping out my savings, but this means i will be able to bang 50 - 60% of wage into savings :D
 
I don't aim to save a fixed amount.
As soon as I get paid I transfer my wages into my savings account and then just transfer bits back to my current account when I need it (Same bank for both accounts, so instant transfer)

Sometimes I spend more than I earn in a month, though usually I spent a fair bit less and my savings go up accordingly.
 
after being out of work for ages, im getting hit by a lot of bills (and have just been on holiday)

i'm working now, on about £1200 a month, £230 rent, £35 net, £30 aside for bills, £50 phone

aiming to put away £500 a month so I can build up a good savings account again, it's do-able if you do things like make lunch for the week (instead of spending £3-4 a day in a shop) and ONLY buy things you need


the only debts i have are my £500 ish student overdraft, and student loan (really don't count this though)
 
surely it would make more sense to pay off the debt asap, to pay less in interest? (obviously depending if you pay more interest than you would get from saving it)

In response to the question, I wish I could afford to save anything! out of interest, could the people replying that they save XX% per month say what their situation is; living with parents/own home/sharing with partner/renting/student accomodation etc?
 
Wiggins said:
I take it this thread is for the young, single one's still living at home?
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Young & living at home yes, interesting to see if people living on their own / with kids & wife can save, read a report somewhere saying less and less people are savings.
 
Haggisman said:
surely it would make more sense to pay off the debt asap, to pay less in interest? (obviously depending if you pay more interest than you would get from saving it)

In response to the question, I wish I could afford to save anything! out of interest, could the people replying that they save XX% per month say what their situation is; living with parents/own home/sharing with partner/renting/student accomodation etc?
Click to expand...

This time next year i will be in a situation where amount left on loan and savings = 0, so i can start a fresh :)
 
Wiggins said:
I take it this thread is for the young, single one's still living at home?
Click to expand...

Too true. Im lucky to have enough to pay for everything let alone saving anything for a rainy day!

Our monthly food bill has gone up by well over 15% in the last year and we try to buy the same stuff. The fuel bills are going up and up and unless i find more clients in stuffed.

Thing is i run the risk that if i just put up my rates then people who used to be good customers start to think twice about using me.

Makes me laugh all these unions and such demanding above inflation wage increases, do they not realise that huge swathes of the population who work in low paid jobs get NO wage rise year after year. They should count themselves lucky to get even a 1 or 2 % raise.
 
managed to clear all my debt in the last couple of years and got onto the housing market (IE took on a whole hella lot of debt)...

I'm putting about 3% into pension and about 25% of my take home into savings... also putting 10% of my take home into a share scheme (basically works out as 7% interest minimum...)
 
10% into personal savings (Stocks & Shares ISA, plus have put the limit into cash ISA at the start of the financial year), +small% into pension.

Should save more really, but my mortgage is a killer.
 
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