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What amount do you save per month?
Posted on 2/28/24 at 10:27 am
Posted on 2/28/24 at 10:27 am
Not in an investment vehicle but savings?
Posted on 2/28/24 at 10:33 am to HeartAttackTiger
Zero
Savings is investments. Once you hit where you want to be for an emergency fund, there is no more "savings"
Savings is investments. Once you hit where you want to be for an emergency fund, there is no more "savings"
Posted on 2/28/24 at 10:36 am to HeartAttackTiger
quote:
Not in an investment vehicle but savings?
In this context, $0 I guess.
I have an emergency fund/savings but it's static and I don't add to nor take away(hopefully) at this point.
Everything else goes into retirement funds(401k, IRA), 529s, taxable brokerage, etc.
I guess I don't see the point in having a dedicated amount of money each month that goes into a savings account to sit there unless it's an emergency fund building or saving for a purpose(down payment mortgage, vehicles etc.)
If I'm not saving for a purpose it's going to go into some type of investment vehicle.
Posted on 2/28/24 at 10:53 am to HeartAttackTiger
Varies - I fund my "new car fund" and I have to replace my long-term savings when I dip into them. Ideally, I will be 1 year funded in advance, but I'm closer to 3 months (but that doesn't include things like a reserve amount if I have to replace a roof and the aforementioned "new car fund" that I can borrow from then pay back.)
Call it $800 a month on average.
Call it $800 a month on average.
Posted on 2/28/24 at 11:43 am to HeartAttackTiger
I save approximately 900$/month for a rainy day fund that is also used as our emergency fund. The emergency number never goes above a certain amount, when we have a lot more overage then we will treat ourselves to something we've been wanting or a vacation.
Posted on 2/28/24 at 11:51 am to HeartAttackTiger
Roughly $500 a month. When it gets to a certain point I take a chunk and pay off a loan. Repeat.
Posted on 2/28/24 at 11:56 am to HeartAttackTiger
My wife draws $50/week from checking into a savings account.
It is an old habit that she likes.
The savings account serves multiple purposes. Emergency fund. Cash for car fund. Home/auto maintenance fund. Vacation fund.
If there is a big ticket item not readily available in checking, we have it covered.
It is an old habit that she likes.
The savings account serves multiple purposes. Emergency fund. Cash for car fund. Home/auto maintenance fund. Vacation fund.
If there is a big ticket item not readily available in checking, we have it covered.
Posted on 2/28/24 at 1:06 pm to HeartAttackTiger
I try to maintain a checking account at a certain level and everything else automatically gets invested.
Posted on 2/28/24 at 1:14 pm to HeartAttackTiger
Several thousand a month probably. I’ve never really looked into it.
Wife and I both max out our 401k’s then I have another $600 month going to Edward Jones to back door my to Roth every year or I’ll just leave it it that account and fund the Roth through my checking.
Rest of the money was just sitting in checking and savings earning nothing every year. I usually end up getting a pretty high balance then go blow it on cars, ATV’s, guns, watches, pool, vacations then build it back up to do it all over again.
I finally opened a capital one 360 account so I’m earning 4.3% on about half but I’m trying to get my wife to move the rest and us just keep around 20k in her checking and 20k in my checking to pay bills out of.
So to answer your question I have no fricking clue
Sometimes it could be $4,000 a month and sometimes it could be $20,000 per month.
Wife and I both max out our 401k’s then I have another $600 month going to Edward Jones to back door my to Roth every year or I’ll just leave it it that account and fund the Roth through my checking.
Rest of the money was just sitting in checking and savings earning nothing every year. I usually end up getting a pretty high balance then go blow it on cars, ATV’s, guns, watches, pool, vacations then build it back up to do it all over again.
I finally opened a capital one 360 account so I’m earning 4.3% on about half but I’m trying to get my wife to move the rest and us just keep around 20k in her checking and 20k in my checking to pay bills out of.
So to answer your question I have no fricking clue
![](https://images.tigerdroppings.com/Images/Icons/IconLOL.gif)
This post was edited on 2/28/24 at 1:34 pm
Posted on 2/28/24 at 1:36 pm to HeartAttackTiger
Maintain $15,000 in savings account unless there is a big purchase I am preparing for.
5% to 401k to get company matching
60% of monthly pay into investment account
House and vehicles paid off. No debt.
5% to 401k to get company matching
60% of monthly pay into investment account
House and vehicles paid off. No debt.
This post was edited on 2/28/24 at 1:38 pm
Posted on 2/28/24 at 4:45 pm to HeartAttackTiger
$4500
But that includes for 401k, individual brokerage, rainy day/ emergency and travel
But that includes for 401k, individual brokerage, rainy day/ emergency and travel
This post was edited on 2/28/24 at 4:46 pm
Posted on 2/28/24 at 5:35 pm to HeartAttackTiger
$700 into stocks a week and $100 to Ibond weekly on auto. These are in addition to my retirement accounts. Also got $50,000 in a HSA making 5% now.
I max my 403b and backdoor Roth IRA on top of this and also have a 7% deduction for pension.
I max my 403b and backdoor Roth IRA on top of this and also have a 7% deduction for pension.
This post was edited on 2/28/24 at 5:41 pm
Posted on 2/28/24 at 6:59 pm to HeartAttackTiger
After maxing out all 401K etc around 8k a month
Posted on 2/28/24 at 7:51 pm to HeartAttackTiger
1200/month goes into rainy day after 401k and roth max.
Emergency fund is established. 1200/month goes to dedicated big expenses. Last 3 years it's been built up for a cash purchase of a car. New HVAC the following year, new roof after that.
We have a 10 year plan that takes us to 2 newish paid vehicles, paid off house, with a newish roof and hvac.
Emergency fund is established. 1200/month goes to dedicated big expenses. Last 3 years it's been built up for a cash purchase of a car. New HVAC the following year, new roof after that.
We have a 10 year plan that takes us to 2 newish paid vehicles, paid off house, with a newish roof and hvac.
This post was edited on 2/28/24 at 8:01 pm
Posted on 2/28/24 at 8:05 pm to HeartAttackTiger
$2000 cash goes to savings in high yield account (about 4.5% and these days the total brings in about $1100 a month in interest), $1000 goes to 401k where it gets matched 1 to 1. House is almost paid off -- about 6 months or so? When that happens, we'll save or invest an additional $1700 a month.
We have zero debt except the house payment (for now).
We take normal vacations (go to some place we've never been before) no matter what comes in. I mean, you have to, else you'll lose your mind.
I'm glad I'm a government contractor and taking that tax-payer money
![](https://images.tigerdroppings.com/Images/Icons/Iconcheers.gif)
We have zero debt except the house payment (for now).
We take normal vacations (go to some place we've never been before) no matter what comes in. I mean, you have to, else you'll lose your mind.
I'm glad I'm a government contractor and taking that tax-payer money
![](https://images.tigerdroppings.com/Images/Icons/Iconusaflagsmiley.gif)
![](https://images.tigerdroppings.com/Images/Icons/Iconcheers.gif)
This post was edited on 2/28/24 at 8:07 pm
Posted on 2/28/24 at 8:25 pm to HeartAttackTiger
I shoot for 20% a month of gross income
Posted on 2/28/24 at 8:51 pm to HeartAttackTiger
Around 4k a month. Currently building emergency fund as well as saving for a vehicle. We also put some away for travel. No debt and own home free and clear.
HSAs are maxed. 401k is maxed and my wife contributes to a 403b but has a teachers pension as her main retirement contribution.
HSAs are maxed. 401k is maxed and my wife contributes to a 403b but has a teachers pension as her main retirement contribution.
Posted on 2/28/24 at 11:22 pm to HeartAttackTiger
I have way too much in savings not doing anything. Granted it's in a Marcus/Goldman Sachs HYSA earning 4.5%, but I need to be doing more with it.
We probably put close to $1k a month away with another 11% going into my 401k.
We probably put close to $1k a month away with another 11% going into my 401k.
Posted on 2/29/24 at 6:07 am to HeartAttackTiger
I have been building up savings this past year. Before I was just heavily invested, but a couple of unexpected bills made me realize that I should have a peace of mind amount of cash on hand. Its in a MM account generating over 5% which is lovely seeing that deposit each month.
I am all about the 6 month of expenses savings, but I am now going for 12 months.
If 2008 happens, I would be so pissed and with regret if I had to scramble to sell stocks that already lost 30-50% of its value.
I am all about the 6 month of expenses savings, but I am now going for 12 months.
If 2008 happens, I would be so pissed and with regret if I had to scramble to sell stocks that already lost 30-50% of its value.
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