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How much $$$ do you save?

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Originally posted by: vi edit
Think about that for a second.

That household making that much money can easily give up an expensive car payment or downsize to a smaller house and easily pick themselves up.

The family making less doesn't have as much wiggle room.
Click to expand...

I thought about it. The family making less is stupid and irresponsible with their income and living beyond their means. If they don't have wiggle room it's their own damn fault.
 
must... resist.... more hard drive space

does paying off my car in 12 months instead of 48 count as saving? my ROI is 6.35% which is alot more than what i woulda made if i invested that this year. lol

i basically treated my car payment like if it was a mortgage, around $1300 a month and im $800 away to finishing 🙂 🙂 🙂 🙂


besides that, i save about 30% of my weekly income. i gotta have hookers and blow you know.
 
8% before taxes for the 401k, 8% after taxes for emergencies. However, that 8% is minimum. When I get a one time chunk of money (tax rebate, 3 paycheck month, etc) I always put about 50% into savings. 50% for savings, 50% for something fun. If you don't let yourself have a bit of fun its impossible to keep yourself saving.
 
Originally posted by: evident
must... resist.... more hard drive space

does paying off my car in 12 months instead of 48 count as saving? my ROI is 6.35% which is alot more than what i woulda made if i invested that this year. lol

i basically treated my car payment like if it was a mortgage, around $1300 a month and im $800 away to finishing 🙂 🙂 🙂 🙂


besides that, i save about 30% of my weekly income. i gotta have hookers and blow you know.
Click to expand...

A car is... a depreciating asset. I would say no.
 
Originally posted by: alphatarget1
Originally posted by: evident
must... resist.... more hard drive space

does paying off my car in 12 months instead of 48 count as saving? my ROI is 6.35% which is alot more than what i woulda made if i invested that this year. lol

i basically treated my car payment like if it was a mortgage, around $1300 a month and im $800 away to finishing 🙂 🙂 🙂 🙂


besides that, i save about 30% of my weekly income. i gotta have hookers and blow you know.
Click to expand...

A car is... a depreciating asset. I would say no.
Click to expand...

but, if i paid it off in 48 months i woulda ended up paying an extra $2k in interest (6.35%). it was a necessary purchase that i had to make.
 
Originally posted by: spidey07
Originally posted by: vi edit
Think about that for a second.

That household making that much money can easily give up an expensive car payment or downsize to a smaller house and easily pick themselves up.

The family making less doesn't have as much wiggle room.
Click to expand...

I thought about it. The family making less is stupid and irresponsible with their income and living beyond their means. If they don't have wiggle room it's their own damn fault.
Click to expand...

😕 😕 😕


That doesn't make a lick of sense...
 
right now, like 90%. Living at home. Saving up for a house, then it will be like maybe 5%? lol. I've been a bad spender though, this year I'm trying to really cut down on spending. Less fast food (that adds up), no more online tech shopping sprees for stuff I don't really need, etc. Hoping to start a small hosting company as well to make up the cost of my game server. If I can get like 30 clients on there I'll be happy. It's a saturated market though.
 
About 30% counting retirement savings. Thinking about raising that number to increase our cushion because of the economic situation.
 
I am a college student living at home saving for when I graduate... I am saving about 90% of my paycheck... 8% gross goes to my 401k, 80% net to a savings account.
 
Unless members here on AT are atypical I find many of the claims made in this thread hard to believe. EVERY bank manager/loan officer I have ever worked with has confirmed that approximately 90% of the people in this country have little-to-no savings, no retirement savings and live paycheck-to-paycheck.

A scientific, random, truthful poll would indicate this.
 
Originally posted by: dud
Unless members here on AT are atypical I find many of the claims made in this thread hard to believe. EVERY bank manager/loan officer I have ever worked with has confirmed that approximately 90% of the people in this country have little-to-no savings, no retirement savings and live paycheck-to-paycheck.

A scientific, random, truthful poll would indicate this.
Click to expand...

We have a fairly narrow demographic vs. the general population.

A lot of our members are either college students with limited debt, recent college graduates without a lot of liabilities, or industry professionals that make much better salaries than the national average.
 
I have no savings, just trying to get my debt down, then I'll put away 25% of my check towards my emergency fund, 10% of my check to my kids college fund, and 10% towards a new car. I currently have 6% matched going into my 401k.
 
10% of gross (before match) in 401K and about another 10% gross in cash savings, although some of that cash went towards my wifes roth IRA.
 
about 10% not including retirement. which is not nearly as much as I'd like to save, but my wife and i still have ~$45k in student loans. those payments seriously hinder the savings.

the good thing is that in a few months, my emergency fund will be funded fairly well, so i'm going to stop payments to that and put that money into paying down student loans.
 
Percentages? Can't really say for sure. Both me and the wife are govt workers, so we are automatically putting money into PERA every check, plus I have an automatic deposit into a hard to access savings account. Add on to that an I bond and silver bar purchase every once and a while. At least we're saving something - better than many!
 
33% (1/3) into my 401k and Roth. Yeah, I max out. Which means you can figure out how much I make approximately. On top of that I also save another chunk into my savings.
 
Before we bought the house this year it was around 25%. Now its down to about 6%, although we've just about paid off our last CC debt and the car loan so taht should go back up
 
Originally posted by: dud
Unless members here on AT are atypical I find many of the claims made in this thread hard to believe. EVERY bank manager/loan officer I have ever worked with has confirmed that approximately 90% of the people in this country have little-to-no savings, no retirement savings and live paycheck-to-paycheck.

A scientific, random, truthful poll would indicate this.
Click to expand...

after my automatic deduction and measly voluntary saving deduction i do live paycheck to paycheck...
 
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