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What is your average savings to income percentage each month?
Posted on 7/5/15 at 12:27 pm
Posted on 7/5/15 at 12:27 pm
What is the percentage of your average monthly savings to your total net household income? Include average monthly 401k contributions, transfers to savings and all income after paying monthly expenses.
This post was edited on 7/5/15 at 12:42 pm
17
Posted on 7/5/15 at 12:37 pm to PrettyLights
Why am I counting disposable income? If I spend it, it doesn't seem like savings anymore 
ETA: Between automatic investments and automatic savings transfers, I save about 20% of my after tax take home every month. If you took out my mandatories (rent, utilities, car insurance, etc) it would obviously be much, much higher. Random money left over at the end of the month obviously varies by month.
ETA: Between automatic investments and automatic savings transfers, I save about 20% of my after tax take home every month. If you took out my mandatories (rent, utilities, car insurance, etc) it would obviously be much, much higher. Random money left over at the end of the month obviously varies by month.
This post was edited on 7/5/15 at 12:42 pm
Posted on 7/5/15 at 12:49 pm to Joshjrn
quote:
Random money left over at the end of the month obviously varies by month.
I'm just looking for everyone's average. Simply put what is everyone's average savings to net income percentage each month?
Posted on 7/5/15 at 12:57 pm to PrettyLights
~22% of gross.
This post was edited on 7/5/15 at 12:58 pm
Posted on 7/5/15 at 1:01 pm to PrettyLights
My projections on a strict budget after I move into my house with two paying roommates is 23.5% of net income. Granted, 8% of my gross goes straight to retirement (I don't include that).
ETA: What's yours???
ETA: What's yours???
This post was edited on 7/5/15 at 1:03 pm
Posted on 7/5/15 at 1:05 pm to PrettyLights
quote:
I'm just looking for everyone's average. Simply put what is everyone's average savings to net income percentage each month?
The average savings on this board will not reflect the state or nation as a whole so keep that in mind.
This post was edited on 7/5/15 at 1:06 pm
Posted on 7/5/15 at 1:29 pm to bayoubengals88
30% of gross. Started with 10% and couldn't believe the power it had so kept bumping it up until it wasn't doable anymore
Posted on 7/5/15 at 1:31 pm to bayoubengals88
I average about 40% of net each month but I want to throw some extra money toward school loans.
This post was edited on 7/5/15 at 1:32 pm
Posted on 7/5/15 at 1:35 pm to PrettyLights
10% in 401k
10% in savings
when I get my annual bonus(20% of salary) that goes directly to savings too
10% in savings
when I get my annual bonus(20% of salary) that goes directly to savings too
Posted on 7/5/15 at 1:42 pm to yellowfin
quote:
10% in 401k
10% in savings
when I get my annual bonus(20% of salary) that goes directly to savings too
Are the above percentages based on Gross, net, gross respectively? Either way, that's pretty damn good.
Posted on 7/5/15 at 1:45 pm to PrettyLights
Rough estimate is 30% of pre-tax income. That includes 401k, IRA, and general savings
Posted on 7/5/15 at 1:49 pm to PrettyLights
That's gross
doing 10% I'll max 401k in November
doing 10% I'll max 401k in November
Posted on 7/5/15 at 2:16 pm to yellowfin
quote:
10% in 401k 10% in savings when I get my annual bonus(20% of salary) that goes directly to savings too
I'm commissioned, but that's probably how it evens out in wash year over year. Probably cash heavier than most here due to line of work.
Posted on 7/5/15 at 2:22 pm to PrettyLights
quote:
I average about 40% of net each month but I want to throw some extra money toward school loans.
I'm assuming you're either living on little or bringing home some serious cash...either way, that's great!
Posted on 7/5/15 at 4:53 pm to bayoubengals88
My wife and I have decent jobs I guess. Were saving for a house and still getting our feet wet considering were both in our 20's.
This post was edited on 7/5/15 at 4:54 pm
Posted on 7/5/15 at 5:09 pm to PrettyLights
25% of gross income
Posted on 7/5/15 at 5:19 pm to PrettyLights
30% to short term (<5 yr) savings
16% to retirement
20% to student loans
16% to retirement
20% to student loans
Posted on 7/5/15 at 8:29 pm to PrettyLights
So far it looks like 30% of gross is a good number to continue to shoot for.
This post was edited on 7/5/15 at 8:30 pm
Posted on 7/5/15 at 8:39 pm to PrettyLights
20% of gross, 30% of net
Posted on 7/5/15 at 9:17 pm to kaaj24
11% gross to 401k (net equals ~50% gross)
10% Net to Roth IRA
10% Net to Savings
Wife contributes 1/3 of gross, and puts 8% towards her retirement (pension).
10% Net to Roth IRA
10% Net to Savings
Wife contributes 1/3 of gross, and puts 8% towards her retirement (pension).
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