How much money do you think someone should save?

I think it all depends on your income. If you make more, invest more. Some companies match up to a certain percent.My company matched up to 6% so I invest 6%.

i started saving/investing using a very simple formula, 70-10-10-10, every month i put 10% on savings, 10% for investment, 10% tithes and and we live on the 70%... it's only hard on the first month because you need to adjust your lifestyle. after that it will get easier... we had 2 salary increases since i started this formula so i ammended it a little its now 65-15-10-10, 15 being for investments. my hubby takes care of our holiday fund and our emergency fund, don't worry too much about emergency fund because you can build it up in 5 yrs, according to my mentor you should have an emergency fund equal to 6 months of your salary. my parents made sure my brother and i go to university so i owe it to my child to be given the same opportunity if he'd want it. i add a little money to his child benefit to make it a round number. i invest it in bonds every month. i contribute to my company's superannuation scheme, i put 6% of my gross pay and my employer would match it w/ 6%. my hubby has got the same scheme in his work place only he contributes 10%. we both have 6 months full sick pay and another 6 months half pay. we are insured against the price of our house. we have home and content insurance. we have a little retirement place by the beach in a little island in the philippines. we have free medical tx thru NHS. we invest in precious metals, bonds, mf and we are seriously considering investing in real estate. we are still educating ourselves on this because we feel we are not ready, we dont know enough about RE yet. my hubby is 7 yrs older than me and i want to retire when he retires that's why i know i need to double time. i wanted to have multiple income streams and enough passive income to support my simple lifestyle.

I don't have children so I don't worry about that...but I do try to put money back so that when I'm older I won't have to worry about how I'm going to take care of myself. We don't have an emergency fund although we really need one. Right now we are playing catch-up with our finances so hopefully we'll be able to start one. **AT PEACE WITHIN** ~~STAND STRONG IN YOUR BELIEFS~~

the best thing that i have always been told is to make a "payment" to yourself when you're paying your bills. an emergency fund should essentially have enough money to pay all of your bills for at least four months, but ideally eight months or more. it is always best to save for retirement because it is a well known fact that social security won't be around too much longer. as nice as it would be to put money aside for college for your children, there will always be scholarships, loans and federal funding. as selfish as it may seem, once the money runs out for who, how will you be able to take care of yourself? if you don't have enough money to have all of these financial accounts, make sure that your bills are paid, and try to make sure to put aside money every paycheck/month. you could look into these high interest online savings accounts. any earnings over $35 a year, you do have to claim them on your taxes, but they do help. ingdirect.com, hsbc.com are a few that come to mind.

It would really depend on the earnings and expenses of a family. I believe 10 to 20 percent of your earnings (less your expenses) should be tucked away for a rainy day. Putting it in a bank would be a good idea.