This Question Was Probably Asked Many Times Over, But I'm Not Sure How Much I Should Be Saving Each Week ? I See Many Different Answers Online. For Example 20% Of Your Net Pay , $50.00 A Week ,$20.00 A Week. And Also I'm BAD At Saving Money, What Are Some Tips I Can Try To Help Me Save Better?
This Question Was Probably Asked Many Times Over, But I'm Not Sure How Much I Should Be Saving Each Week ? I See Many Different Answers Online. For Example 20% Of Your Net Pay , $50.00 A Week ,$20.00 A Week. And Also I'm BAD At Saving Money, What Are Some Tips I Can Try To Help Me Save Better?
@Roberta - It depends on things like your income, bills, spending habits, and more. There are so many different ways to save, you just have to find what works for you. For me, I can't afford to save 20% of my net pay, so instead I save a dollar amount (like $50) per paycheck. Some people like to save per paycheck, and some like to save per week. Have you checked out the Money 101 section on saverlife? https://www.saverlife.org/money-101
I'm trying to learn how to have a set buget to save??
Still learning to budget my savings.
I am going to start putting back where I would normally save such as buying lunch etc.
I have my checking account is set to Auto transfer $20 a week which translates to $80 a month which a little taken away each month is hardly noticeable. At the end of the month I try to make a manual deposit to savings of anything I can spare. in the almost year since joining Saver life and creating this savings plan I have saved well over a $1000. Which I try not to check how much is in Savings so I am not tempted to spend it.
At least 10% of your income every month.
I try to do no less than $50. If I can do more I will.
I have my checking account is set to Auto transfer $20 a week which translates to $80 a month which a little taken away each month is hardly noticeable. At the end of the month I try to make a manual deposit to savings of anything I can spare. in the almost year since joining Saver life and creating this savings plan I have saved well over a $1000. Which I try not to check how much is in Savings so I am not tempted to spend it.
This is a great goal!! I'm working toward that right now
roberta there isn't a set amount. stash whatever you want to stash.
How much should I start off with when starting to save?
How much should I start off with when starting to save?
Start with whatever is feasible to you. The only guideline to saving is to just simply save. Other than that you can go about it however you choose.
I don't make a lot so I just do $5 a month since I'm just starting. I'd like to bump it up in the future but even $20-$25 a month adds up quick. My bank (Wells Fargo) also transfers a dollar for each transaction into savings, which can be annoying when balancing my checkbook but is also helpful.
$5 is fine, remember every dollar adds up. I sure miss that wells Fargo way to save. Every bank should adopt that feature.
