What % of your net income goes to savings?

**peanut** · 05-01-2007, 09:11 PM

I've been wondering what you've all been doing, and what is reasonable. I'm including retirement savings in this.

I figure we save 22.5% of our net income every month. I'm still not sure if that will be enough for DH to retire early.

What about you?

**jamie79** · 05-01-2007, 10:53 PM

right now 15%. Cant do more then this at this point

**danni** · 05-02-2007, 03:14 PM

Right now only 8%. But starting in 2009 we'll be saving 50%.

**monkeywrangler71** · 05-02-2007, 03:39 PM

28% of net regular income goes to automated savings, at least 50% of bonuses and other windfalls.

**santamargaritamom** · 05-02-2007, 04:32 PM

Ouch! 3% of net income.
2008 goal: 7% of net income.

**freyadog** · 05-02-2007, 05:02 PM

We save 30%. Later this year we may see to adding more after insurances, taxes etc are paid.

**acidcookie** · 05-02-2007, 10:10 PM

Not sure, but it's hardly anything because I have to save about 15% each month just to pay for my two non-paid months.

**wanderlusting** · 05-03-2007, 07:48 AM

12% goes into retirement accounts
15% goes into savings

**nuisance26** · 05-03-2007, 08:45 AM

~We save 16% of pre-tax income into DH's 401K(the same amount would be 20% of our net) and this year we'll save about 7% of our net in our savings account. I'm always shocked at the end of the year when I see how much we've saved.~

**julieb** · 05-03-2007, 09:10 AM

Between my husband and I we save 20% of our pretax earnings into retirement. Our places of employment put in a total of 6%. Aside from our emergency fund that is all we have been able to save. Hopefully once cc and car debt is paid for we can save more.

**FrugalMomof3** · 05-03-2007, 09:33 AM

Right now it's probably 2-3% if that and as of June 20th it will be 11% - 15%.

**3-boys-4-me** · 05-03-2007, 09:42 AM

IF I did the math correctly, we max out both our retirement accouts (401k for DH, IRA for myself) at just 16% of DH's salary. We continue to contribute monthly to our EF and pay additional funds to the principle of our mortgage.

**3-boys-4-me** · 05-03-2007, 09:50 AM

The more I think of it, the more I am sure I did not do the math correctly. How would I figure out the correct percentage? Sorry, other then the basic addition, subtraction and multiplication I am not all that great with math.

**peanut** · 05-03-2007, 11:37 AM

Take the amount you put in savings each month, multiply it by 100, and then divide by your net income (take home pay) per month. The result is the % you put in savings.

For example: You save $200/mth. You earn $2000. So $200 x 100 = 20000 /2000 = 10%.

Hope that helps.

Jean