What % of your Income do you save?

[lisajane]

Re: What % of your Income do you save?

Once I find a way to actually have some recurring revenue, I'd like to put away 30% of the money I make.

As it stands about 50% of the money I make goes on bills. I don't have a stable income

[Russell]

Re: What % of your Income do you save?

This thread motivated me to find out what percentage of my total income is allocated to various expenses and savings etc. The results are a bit surprising:


Savings: 33.65%
Taxes: 27.64%
Rent: 24.52%
Bills/Food/Gas: 8.00%

That's about 93%...the remaining 7% is most likely spent on luxuries/hobbies etc. But the real surprise is the taxes and rent - I knew I was paying a lot in taxes but didn't know it was that much

[Moi?]

Re: What % of your Income do you save?

9% of my pre-tax income goes into Superannuation (compulsory).

I try to save about 70% of my after-tax income. I live at home and don't pay many bills so it's not too bad... however, considering I used to be a real spendthrift, it does get tricky at times!

If I find that I need more cash and don't want to touch my savings, I pick up some extra shifts at my weekend job.