What percentage of your income do you think you should save?

[Sanjeev]

As for me, i ensure i set aside 10% of my monthly earnings for unseen circumstances.

Have you ever spent those earnings?

 

[funkie]

As for me, i ensure i set aside 10% of my monthly earning for unseen circumstances.

For sure, that is a very smart and practical approach. Sometimes these miscellaneous costs come up suddenly and are quite heavy sometimes, so that saved up money does come in handy.

 

[cherry123]

Yes, @cherry123 I do agree with you. Of course, it isn't always possible to save up exactly 50% of your earnings because obviously sometimes there are many miscellaneous costs that come up.

Exactly, for me I always try to keep at least 20% to help me. it might help me to be consistent with it

 

[Springtime]

I put about 15 percent of my income in fixed deposit account. Another 10 percent for investment.

 

[Bisolami]

I put about 15 percent of my income in fixed deposit account. Another 10 percent for investment.

If I may ask, what kind of investment do you put your money on? Is it an offline investment or an online investment because the online investment seems not to be very trustworthy based on my experience

 

[cherry123]

I put about 15 percent of my income in fixed deposit account. Another 10 percent for investment.

You are doing the right things for your financial life. You would reap the benefits in future especially as passive income

 

[Bisolami]

You are doing the right things for your financial life. You would reap the benefits in future especially as passive income

He is doing well about his financial life and I am very happy about that because it is a good thing to save money and I wish I can save but things are getting more expensive which is not even making us have some savings

 

[Edulady]

I have been saving proceeds from my investments. But now I want to save whatever I make online. But I have seen a rule that says use 50% for the needs, 30 savings and 20% for wants

 

[Bisolami]

I have been saving proceeds from my investments. But now I want to save whatever I make online. But I have seen a rule that says use 50% for the needs, 30 savings and 20% for wants

That is very nice but I think it is because you are making money that is enough for you and that you can also save our of it because things are very expensive here and it is very hard for us to save

 

[Knowledge Quest]

I think it's important to save at least 10 to 15 percent of my income each month. Of course, this depends on individual circumstances and financial goals, but I believe that saving this amount is a great starting point.

 

[Bisolami]

I think it's important to save at least 10 to 15 percent of my income each month. Of course, this depends on individual circumstances and financial goals, but I believe that saving this amount is a great starting point.

There are many times that I starve myself to save money because I just need to save for a time that I won't even have money at all. It is important to learn how to save for emergencies

 

[Knowledge Quest]

There are many times that I starve myself to save money because I just need to save for a time that I won't even have money at all. It is important to learn how to save for emergencies

I completely understand - it can be difficult to save money for emergencies. However, it's important to make sure you're taking care of yourself and getting enough to eat. It may seem like cutting back on meals is a good way to save money, but it can actually take a toll on your health and well-being in the long run. Consider other ways to save money, like cutting back on unnecessary expenses or finding a side hustle that can help you make extra money for your savings.

 

[Bisolami]

I completely understand - it can be difficult to save money for emergencies. However, it's important to make sure you're taking care of yourself and getting enough to eat. It may seem like cutting back on meals is a good way to save money, but it can actually take a toll on your health and well-being in the long run. Consider other ways to save money, like cutting back on unnecessary expenses or finding a side hustle that can help you make extra money for your savings.

You are very right and that is why I always take myself out on a good treat to eat food and also enjoy myself because it is not possible to starve for a while or work hard for months and not even have time to take care of myself or enjoy myself

 

[Shavkat]

As much as possible, I save 10% of my salary twice a month. Then, earning on online is an extra money to be saved, too.

 

[hastral45]

It is good to set up certain percentage out of one's income as a savings. But his could not be rigid every months as contingency increases.

 

[riberet19]

I am saving and investing about 30-40% a month of my earnings, it may be higher in the future

 

[Stardom22]

For me I think if I can save 10% of my online earnings from every site that I work on its fine.
I have given myself a lower limit so that I can easily achieve whenever I receive my online income.

 

[Bisolami]

As much as possible, I save 10% of my salary twice a month. Then, earning on online is an extra money to be saved, too.

This is very good and I also do not spend all the money I make in a month. I spend the money I make on this platform and I spent the money I make on insuredforum so I always keep the rest

 

[Niyi Briggs]

There are no hard and fast rules when it comes to savings. You just have to do what you can. But make sure you do it consistently.

 

[eldavis]

I do not really have a specific percentage when it comes to savings though, i usually save what i can from my earnings. I would work on creating one