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How many people save at least 10% of their earnings?

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I try too. I work different hours every month so my wages do fluctuate. This month I saved over 10% but I'm struggling now, (I get paid next week) so I don't know if it will be able to stay in savings. :frown:

I try to balance it out though and save a bit more when I get a nicer pay packet! :smile:

Oh, I've saved pretty much all of my student loan this year too! I live at home, not rent free but seriously reduced rent, & commute into uni so that has saved some money. I also work basically full time alongside uni too.

(edited 11 years ago)

Reply 21

Pawsies

Save a third of my wage. I set up a direct debit to my savings account so £25 a week goes there.

Having said that, I am overdrawn atm as have car in garage, had dog pts last week, other bills to pay so it all sucks away gradually but as a student I have 0%.

My student loan goes straight into my savings account, I don't even see it :tongue:

I graduate soon so need savings!

Reply 22

Felisto

35% rent, 25% all other expenses and 40% long term savings

Reply 23

olop

I currently save around 2/3 or 3/4 of what I earn. I'm so strict with money!

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Reply 24

Rakas21

Any more reports from the fiscally disciplined TSR.

Reply 25

Key123

Original post by Rakas21

Any more reports from the fiscally disciplined TSR.

I saved nothing at uni and law school- in fact the latter pretty much depleted the savings I had left.

Currently saving about 33% of my income not including my pension contributions.

Operating a 1/3 rent/bills, 1/3 saving and 1/3 'food, travel and fun' split at the moment. When my pay increases I'll likely spend the same and save the excess.

Having no savings after two degrees felt terrible...

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Reply 26

Alfissti

Original post by Rakas21

Any more reports from the fiscally disciplined TSR.

When I was pursuing my degree, between my ex and me we worked 30 hours per week, we tried to save up to 15% of our wages as a safety net in case something happened as we had a child to support and due to no citizenship we never had the opportunity for any kind of welfare. Wages needed to cover the cost of our baby, her portion of the rent and bills basically. My share of the rent and bills was covered by my parents who supported me while at university but didn't know I had a kid LOL.

After graduation, generally saved up 3 months income as backup each year and each time I received a performance bonus or incentive I always saved it for investment purposes.

Reply 27

Reue

I saved about £7k before going to uni, lost money whilst at uni, and now save about 60% (inc pension) of post-tax income.

Reply 28

Flexa

22% of my wage every month goes into an ISA.

I've done this since I was 16 years old, and plan to do it for the rest of my life.

Reply 29

mos182

I tend to always have at least x amount left in my savings account just in case I lose my part time job or something

Reply 30

Rakas21

Original post by Reue

I saved about £7k before going to uni, lost money whilst at uni, and now save about 60% (inc pension) of post-tax income.

That's a significant monthly saving. What are you doing with it?

Reply 31

Reue

Original post by Rakas21

That's a significant monthly saving. What are you doing with it?

Pension, Shares and cash savings.

I have just bought a house now though so a majority will be going to mortgage overpayments.

Reply 32

SloaneRanger

Most people are in debt that is a fact that is without taking into consideration student loans.

Reply 33

_anyawalsh

Its probably about 70% of all my income i save - i work out i have £148pw after rent, half of that i save. And most of the time I save all of my wages, since october i have just under 2K

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