How much a week do you save? (pt 2 of figuring things out)

LordJezo

Banned
May 16, 2001
8,140
1
0
After spending on all your stuff how much extra do you have to put away in investments or savings accounts?
 

rudder

Lifer
Nov 9, 2000
19,441
86
91
depends. If I spend a lot, I don't have much to save. Conversely, If I don't spend too much during the week, I have a little more to save.
 

bunker

Lifer
Apr 23, 2001
10,572
0
71
6% of my check every two weeks, plus an extra $120 a month on top of that.
 

CraigRT

Lifer
Jun 16, 2000
31,440
5
0
Originally posted by: chin311
200$ a month tops

same... probably less... oh well i started a few years ago
then again i am at home, spending my money. and not saving.
i'm 22
 

Gyrene

Banned
Jun 6, 2002
2,841
0
0
100% of what I make. I live off of the interest. Of course, right now I don't make anything as I went back to school. So I re-invest 10% of the interest.
 

Lamont Burns

Platinum Member
Dec 13, 2002
2,836
0
0
I personally put 10% per paycheck(26/yr) into a 401, then 30% of remaining into savings. Direct Deposit.

Then the rest I spend if I want or need to. Anything I don't spend is a bonus.

I remember my grandparents always saying, if you save 10% of your gross, that's good. I know I save way more than that. I guess my expenses are pretty low right now though. no family, kids, mortgage. Low rent, utilities and food is all I got.

Although I predict in less than a year I will open an investment account once I am content with my nest egg in savings/money market.
 

wyvrn

Lifer
Feb 15, 2000
10,074
0
0
6% into 401k
$300/month into Ingdirect
$50/month into IRA (about to raise that significantly)
$200/month into money fund
~$150/month into life insurance cash account (it's flexible)

The last 15 months we bought two real estate properties but I wanna save for a nice house, so I am sure my savings is gonna go way up this year. I need to figure out the best place to put about an extra $750/month, get a decent interest rate, and keep it liquid. Hmm..
 

DrPizza

Administrator Elite Member Goat Whisperer
Mar 5, 2001
49,601
167
111
www.slatebrookfarm.com
kids are going to college in a few years, so I don't save anything (despite the advice given by the throngs of investors)... I keep enough cash on hand for anything I could possibly need or any emergencies, and after that, pay a little extra on the mortgage or buy some stuff, or improvements on the house. Interest rates are too low right now to even bother putting it in a savings account... interest on most savings accounts right now is less than the inflation rate (2.2% I read the other day) When the kids reach college age, they'll receive more financial aid because of the lower amount of savings... then any necessary college loans have a very low interest rate on them. It'll be great to be 42, no mortgage, and kids off to college. :)
 

lchyi

Senior member
May 1, 2003
935
0
0
I save $200/week. Saving at 18 is like playing parent and child at the same time. I want toys dangit TOYS!
 

Storm

Diamond Member
Nov 5, 1999
3,952
0
76
Between 50%-75% of my paycheck, less now that I'll be moving some of it into ingdirect and hopefully soon a roth ira account. Also I live at home so that saves me a bundle of cash.