Many financial advisors say that you should save at least 30 percent of your income. But my aim is 50 percent, as long as the rest can sustain me. What percentage do you think should be saved?
What percentage of your income do you think you should save?
- Thread starter Kennysplash
- Start date
You can save up to 50-70% if you're sure the rest will sustain you.
Base would be 10%. That is ideal for sure. But if you are earning more then you can increase the amount.
I am trying my best to save 10% of my salary during the paydays monthly.
Try to Google search the Rule of 72 by Albert Einstein. You will know when your money doubles.
What is this rule starmix, I would like to know about it, can you please let us know in detail and how it helps in making our money double and help in saving
Actually I attended a seminar workshop hosted by the World Financial Group,that was during the non - pandemic. There's a certain amount you have to save for example in a trust fund and then your money double every 6 years. The younger you start to save, the bigger your savings would become.
There were months when I planned to save a minimum of 20% of my total earning from all resources and raised it to 30% and decreased to 10% by looking at my expenses but its not easy to find a percentage that would be enough for us
I agree with you, it also happens to me, instead of increasing my savings decreasing. I'm sometimes extravagant. I like to dine in my favourite Goldilocks sometimes in Choking. I have to pay myself first. It's tiresome to work so I have to threat myself better foods.
How much do you earn online in a month?
That's good. I hardly earn $5 or more every month. I don't regret it as I have a full-time offline job due to which I get less time to be on the sites.
Do you have a full-time offline job?