How much can you save per month?
By kingparker
@kingparker (9673)
United States
March 20, 2010 3:00pm CST
I try not spend that much and I have to learn the virtue of been thrifty. In the tough times, we are so tight of money, and we are just don't know how long it gonna be last with all the responsibilities of bill paying. I would cut back all the unnecessary expenses from my household and daily activities. I would rather using 60% of my paycheck to take care of all the expenses, and the rest of the 40% saved in my saving. We should develop a strict plan on saving to avoid the future difficulties. Don't you agree?
14 responses
@1anurag1 (3576)
• India
20 Mar 10
i think you have a good policy with you. and you must follow this policy. but by the time as i am not earning huge i am not able to save enough. but i have decided to invest in some plans and policies so that after some time i could get some amount in return.
@kingparker (9673)
• United States
21 Mar 10
If I have spare amount that is not in instant need, I might also invest on something that is promising in the near future. I would give it a try, and see what is coming out of it.
@kingparker (9673)
• United States
21 Mar 10
Hmmm, I would have to continue to do so, and no matter what. We had learn a lesson from overspending, and spend without a plan. We simply borrow and borrow money from credit cards. We haven't thought about paying it back is a must too.
@cher913 (25782)
• Canada
10 Apr 10
we are hugely tight on money too because my hubby has been out of work since last august! we just dont have enough money to pay bills. sure he is doing odd jobs but it is pretty tough so to that end, we are not saving a whole lot but i am worried about our retirement!
@animegirl334 (3263)
• United States
23 Mar 10
I agree it's a good idea to save for the future. I'm a student but I try to save up any money I can get from miscellaneous jobs and allowance from my family. My mother doesn't have a habit of savings and sometimes needs to use my savings to pay for stuff like land taxes and bills. Savings is definitely important.
@randylovesdar (4932)
• United States
22 Mar 10
I wish my husband and I could do that, but unfortunately with the bad economy and my husband's boss being an idiot this is impossible. We are barely making it as it is. If it had not been for tax time we would not have been able to catch up on our bills. We are debating on whether to get our back deck fixed. It needs to be fixed, but we are deciding on if we want to save money or get it done.
@puccagirl (7294)
• Israel
17 Oct 10
For now, I save around 10-20 % of my total income, not including any online earnings, which I also save. I would want it to be more, but that is what I can do without making too many sacrifices at the moment...
@rookiekan (882)
• China
20 Mar 10
i try my best to save money.Billionaires can make money, but they also good at saving money. Especially in this uncertain world, we often met some things what needed money urgently. If we can not save money, that would be a big trouble.so save money as u can save.record the expense everyday,cultivate a good habit.
@Wizzywig (7847)
•
20 Mar 10
Nothing at all at the moment. Other than cutting my internet connection, there are no unnecessary expenses to be cut. Luckily, we did save when we were in a position to, so we have been able to use them to top up our current income & keep the bills paid. (Having said that, if we had never saved, we would be able to claim for free prescriptions, glasses, dental bills, council tax benefit.....but - we would prefer not to go that route) I dont think there is a lot of incentive for people to either save or pay into pension plans when, at the end of the day, those who didnt bother, just get the money given to them
@sublime03 (2339)
• Philippines
21 Mar 10
I am planning to save once I get started earning again. I have a week to go before my first paycheck from my current company I work for. So far I am enjoying my stay and hopefully get to stay for good since I do not want to move companies anymore. I would really want to use just 60% as well of my paycheck for expenses and the rest saved but due to current demand on a lot of things, I may not be able to do this right away.
@goldiegold (285)
•
20 Mar 10
I am the worst money saver ever. I have just realised that I need to start saving and I plant to put half my pay into savings because I keep on spending anything I save and if I keep on doing it then I won't have any money left.
@kaylachan (69670)
• Daytona Beach, Florida
20 Mar 10
I have to agree. My paycheck goes to bills, bills, and more bills. And I try to shave off as much money as possible from each of those bills so I have more money in the bank. I don't have much in the way of savings because everything I make goes to those darn bills. And, mind you I'm talking rent, eletric, water, etc. By the time I pay rent, eletric, phone, water, there isn't much left. THat has to last me the entire month. So making money streach is important.
@satya4186 (279)
• India
21 Mar 10
my dear i want to say something that i am earning sufficient money on line but i am a medical representative and earn money and save 50% of my salary and expense my all expense and 50% salary too when i am married .
@Ladyslipper (1327)
• Philippines
21 Mar 10
Hi Kingparker,
This is something that both me and my husband needs to learn. We have a Savings Account but I think we will be able to save more if we will learn the virtue of being thrifty. Currently, we are just saving a small portion of our monthly salary. It's because I think we have a lot of unnecessary or unpractical expenses.
We are starting to make a progress though. For more than two years we used to dine out every meal. We don't cook at home. About a month ago we started to cook at home because we think by doing so it will be cheaper. It is indeed. We still dine out but at least just once or twice a week now.
@pilson (94)
• United States
20 Mar 10
Hi Kingparker,
I can't agree with you more.
I am always a man of been thrifty, this is mainly due to my expericence of a long term tough time. currently, i am spending 40% of my paycheck on the payment of living, and 25% on foods and daily activities, and the rest of the 35% saved in my saving. I am now a single man, i think i should save money for my future wife and other things.