How much money do you put in savings every paycheck? | TigerDroppings.com

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Too Frat To Care
New Orleans Saints Fan
PMAC
Member since Mar 2011
6939 posts

How much money do you put in savings every paycheck?


I typically put 20 percent in savings every two weeks. Unless, I have an unexpected emergency.

What's the general rule of thumb? How much do you all save?

I just got out of college and started my career. I want to put quite a bit on a down payment on a house. Luckly no school debt to my name. One day I will have to buy a ring also.



This post was edited on 12/2 at 2:34 pm



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MikeDaTiger23
LSU Fan
Lake Charles
Member since Feb 2009
444 posts

re: How much money do you put in savings every paycheck?


Feed the pig!





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Mercy Percy
Florida Fan
Norman Oklahoma
Member since Oct 2009
1270 posts

re: How much money do you put in savings every paycheck?


3 hundo





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Motorboat
LSU Fan
At the camp
Member since Oct 2007
9572 posts

re: How much money do you put in savings every paycheck?


I'm on straight commission so when I have a good month, ill drop in a couple thou but it works out to about $500/month





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Tmacelroy12
LSU Fan
Houston
Member since Aug 2012
5489 posts

re: How much money do you put in savings every paycheck?


I save 10% a paycheck, 7% into Roth IRA and 3% into a regular IRA.

Put aside as much as you reasonably can. Obviously if you don't have many expenses, you should save more because realistically you will have to push pennies later down in life. Save early, save often.






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LSUtigerME
LSU Fan
Walker, LA
Member since Oct 2012
529 posts

re: How much money do you put in savings every paycheck?


Not counting the 401k 17%, I put $1,000 into a savings account, usually with ~$400 of that going into stocks/ETFs.





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Too Frat To Care
New Orleans Saints Fan
PMAC
Member since Mar 2011
6939 posts

re: How much money do you put in savings every paycheck?


You put it into a straight savings account or some stock?





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Paul Allen
USA Fan
Baton Rouge, LA
Member since Nov 2007
28354 posts

re: How much money do you put in savings every paycheck?


8%





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29619 posts

re: How much money do you put in savings every paycheck?


As much as humanly possible is the correct answer.

Don't forget that you can take back your Roth contributions without any penalty, there's really no need for a "rainy day" fund.

quote:

One day I will have to buy a ring also.


"Love em and leave em" is a more sound financial strategy.






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Siderophore
LSU Fan
Member since Nov 2010
3334 posts

re: How much money do you put in savings every paycheck?


I would rather treat my ability to withdraw from a Roth as a "HOLY frick EVERYTHING IS GOING TO HELL IN MY LIFE" fund and use a taxable account fund for rainy days.

Unless there is some way you can backdoor borrow and put back I don't know about. A Roth's biggest weakness is the limit you can put in.

I dont want to take out till my contributions are a small percentage of total value anyway.






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jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4763 posts

re: How much money do you put in savings every paycheck?


Save 20% of my gross for retirement. Ths consists of contributing enough to max my Roth and the employer match on my 401k.

Also put away 10% of my gross for future crap.






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notiger1997
Member since May 2009
22141 posts
 Online 

re: How much money do you put in savings every paycheck?


I can't put any savings away. Got a smart phone, new car, full cable package, and a nice house.





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Chris Farley
Maryland Fan
Regulating
Member since Sep 2009
3637 posts

re: How much money do you put in savings every paycheck?


20% gross into 401k
5% into Roth(and portions of bonuses up to max)
5% emergency fund
5% savings account






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Cholo
LSU Fan
National City, CA
Member since Oct 2012
1076 posts

re: How much money do you put in savings every paycheck?


Right now I have no kids and my wife works so we put a substantial amount every month. We also drive paid off cars which helps. Probably about 50% of our income goes into our ROTH, a managed investment account, a 403B from her job that has a 5% match, and then savings.





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dlmast87
Ohio State Fan
Amishville
Member since Dec 2007
1347 posts

re: How much money do you put in savings every paycheck?


No kids and we both work so we save one full income plus some. I'd say we save 65% of our net income between roths, 401k, and savings accounts.





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Fat Bastard
New Orleans Saints Fan
Paradise
Member since Mar 2009
15627 posts

re: How much money do you put in savings every paycheck?


ZERO

All my extra money for investing is going towards real estate now.

Still maxing out roth ira and putting in match on 401k though.






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Cholo
LSU Fan
National City, CA
Member since Oct 2012
1076 posts

re: How much money do you put in savings every paycheck?


quote:

No kids and we both work so we save one full income plus some. I'd say we save 65% of our net income between roths, 401k, and savings accounts.


Hell yeah I love not having kids. Not only do we have way more money but when my wife works I can spend the whole weekend on my bike. No screaming little shite to ruin it.






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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
20972 posts
 Online 

re: How much money do you put in savings every paycheck?


quote:

How much money do you put in savings every paycheck?

Whatever I don't spend- 401k every paycheck and Roth is maxed for the year.






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Double Oh
Louisiana
Member since Sep 2008
2127 posts

re: How much money do you put in savings every paycheck?


400 a month into 401K plus the 3% match





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Athanatos
Vanderbilt Fan
Baton Rouge
Member since Sep 2010
6399 posts

re: How much money do you put in savings every paycheck?


Max out my 401k and the rest into savings after paying rent and my tailor.





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