how many percent of your income do you save?

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Joined: 30 Jul 2007
Age: 45
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09 Nov 2012, 4:25 am

right now i'm saving about 25% of my income. i want to know the average of everyone. i dont know if i should save more...

londongeek
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09 Nov 2012, 5:27 am

I'm not in any way a financial advisor, not registered or regulated by anyone, but I'm currently saving either £5,000 (USD7988; EUR6265) per month or 40% of my monthly income, whichever is higher. I like "round numbers" so I enjoy the feeling of knowing that I have £x thousand in the bank on any given event and - as opposed to when I was younger and seeing things in shops that I'd really like but not being able to afford to buy them, now seeing things in shops, being able to buy them and deciding not to.

Mummy_of_Peanut
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09 Nov 2012, 5:56 am

londongeek wrote:

Apologies for being nosey, but please tell us what you work as (that's if you don't mind).

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eric76
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09 Nov 2012, 6:23 am

Working in a family business that doesn't pull in all that much, I don't make much. But I also don't spend much, either. I'm just not that consumer oriented and I hardly travel at all. In the past year, I haven't been more than 30 miles from home.

londongeek
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09 Nov 2012, 6:28 am

Mummy_of_Peanut wrote:

londongeek wrote:

Apologies for being nosey, but please tell us what you work as (that's if you don't mind).

Not at all; I sold my soul to mammon years ago but I'm a mathematican by training, now working in banking ("boo, hiss", seems to be peoples normal reaction).

mljt
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09 Nov 2012, 6:38 am

I save barely anything- I can't afford to. I have a few grand in savings which I see as a massive luxury.

Mummy_of_Peanut
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09 Nov 2012, 6:48 am

Personally, I save nothing at all. I'm a SAHM (stay at home Mum for those who don't know what that is). As we only have one average wage in the household, we don't save an awful lot. We don't have a figure in mind, just whatever is left over goes in the pot. We have savings from when I did work and we managed to pay off our mortgage on my 30th birthday, so we're not skint. But, the savings haven't moved upwards much in 7 years and have taken a few nosedives, from time to time, when we've bought a new car or taken a holiday.

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Mummy_of_Peanut
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09 Nov 2012, 6:50 am

londongeek wrote:

Mummy_of_Peanut wrote:

londongeek wrote:

Apologies for being nosey, but please tell us what you work as (that's if you don't mind).

Not at all; I sold my soul to mammon years ago but I'm a mathematican by training, now working in banking ("boo, hiss", seems to be peoples normal reaction).

You must be top of your game (my hubby's an engineer and earns half of what you can save). Well done!

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londongeek
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09 Nov 2012, 6:57 am

Mummy_of_Peanut wrote:

londongeek wrote:

Mummy_of_Peanut wrote:

londongeek wrote:

Apologies for being nosey, but please tell us what you work as (that's if you don't mind).

Not at all; I sold my soul to mammon years ago but I'm a mathematican by training, now working in banking ("boo, hiss", seems to be peoples normal reaction).

You must be top of your game (my hubby's an engineer and earns half of what you can save). Well done!

Thanks

as it happens, I'm not at the top of my field but strangely those at the top of the field have travelled the same trajectory that I'm on and are now back in academia (where I came from). By the same token, the cost-of-living in London is quite high, which also explains (to a lesser extent) earning a larger sum.

Trencher93
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09 Nov 2012, 6:58 am

As much as possible. In fact, I had to open up a little this year and stay up to date in my career field. Hurt to do it, but I've got to invest in myself too.

mljt
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09 Nov 2012, 7:01 am

londongeek wrote:

Mummy_of_Peanut wrote:

londongeek wrote:

Mummy_of_Peanut wrote:

londongeek wrote:

Apologies for being nosey, but please tell us what you work as (that's if you don't mind).

Not at all; I sold my soul to mammon years ago but I'm a mathematican by training, now working in banking ("boo, hiss", seems to be peoples normal reaction).

You must be top of your game (my hubby's an engineer and earns half of what you can save). Well done!

Thanks

I live in London and earn probably less than you earn in a month in 1 year!

DemonAbyss10
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09 Nov 2012, 9:09 am

Tends to vary depending upon needs for the week. Usually around $200/week

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ianorlin
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09 Nov 2012, 10:34 am

I am in college without a job so I don't have income but I don't spend much.

redrobin62
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09 Nov 2012, 11:44 am

<--- Broke as a spoke.

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Nushidorei
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12 Nov 2012, 10:46 am

I save about 800 pounds a month which is about 80% of my profits. Don't really socialise much so it never gets spent, though I do go to a nice restraunt once a week and buy a few console games each month.

Stargazer43
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12 Nov 2012, 11:04 am

I save pretty much everything that isn't spent on monthly bills/food.

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