How much do you save a month

[skives]

We currently save $450 a week and if we have anything left over at the end of the month we save that to.

[MonkeyMama]

We save $2500 per month, or 30% of our income.

[rennigade]

I dunno...probably between $4500-$5000.

$3916 goes into 401k/Roth between us per month. Rest goes into taxable or savings.

[corn18]

On a monthly basis, we save 19% of our gross monthly income. I also get a bonus and stock in March. We saved all of the net of that. So that puts us at about 42% of gross income for the year (64% of net income).

[sv2007]

I think an absolute saving amount is not really comparable between forum members who are geographically dispersed across the US (I don't think I've seen an y international posters yet). Just in the other thread, we are discussing how the incoming is so different between the regions, which quickly moved into differnces in life style.

The amount of money saved would depend on your income and life style choices (which in tern would partly be based on your views on retirement savings). Someone younger may save different than someone older or one who likes to travel.

The key is savings is good; but make sure you put that money to work for you.

[sv2007]

Hmm, I should answer your post in a more direct way.

We have always maxed out our 401ks, IRAs, ESPP, and saved some money. As we get older we tend to save more because ours earnings far surpass increases in our life style changes.

We never have the need to rein in our life style in order to save money. I like to think it is because we are happy with a modest life style, but I also must ack that making decent money helps.

Your desire to save is good, but you should know why you want to save $x vs $y amount. Maximum savings at the expense of life style is not a good way to live.

For example, if you project that you'll retire at 60 and want to have $z (remember inflation). then how much do you need to save? That amount can go into your savings account. All other money go into the fun account. If after you've had all the fun you wanted from the fun account, sweep the remainder into savings account.

[cypher1]

I don't know the exact figures offhand, but for annual gross income is 10% 401K. 15-18% for Roth, EF, short term. 2% for HSA.

[phantom]

I've got to admit that I'm not entirely sure right now. 2016 has been a weird year, especially on the income side of things. So, our savings has been all over the place.

[bjl584]

I save around 25% annually.

[tripods68]

2016 - Averaging about *$4600 per month

*Excluding Employer's contributions/matching.

[bennkar]

Hmmm... last year was about $42k (457 plan + Roth IRA + brokerage). Add in ~$4,800 I contribute into the pension plan, with my employer contributing about $13,000, and you *could* say it is around $5,000 / mo. Sheesh, that sounds like a lot.

[kork13]

We're currently saving about $6200/mo, which is about 45% of our household gross income, and 100% of my wife's income. That is fairly intentional, because we're trying to ensure that we can comfortably live off of my income alone if/when she decides to stop working full-time. Gratefully, we both currently earn a good income that gives us alot of flexibility -- by saving aggressively now, it'll give us the ability to reduce our savings as required in the future.

At the moment, we both max out our Roth IRAs & TSPs with about $3900/mo, and the rest goes into taxable investments, our son's 529, and a variety of cash savings.

[QuarterMillionMan]

I'll play but seeing some of the figures on here makes mine feel small. Going by last year's totals and on par to repeat it if all goes well this year my annual (not monthly) savings in my retirement accounts were $24,000 + $6500 for a total of $30,500. Divide that by 12 and that would make it $2451.66667 per month. I'm currently in Las Vegas and drunk posting so my apologies if my figures are off, having double vision (lol).

[clatoden99]

This is going to vary widely depending on your personal financial situation. If you're looking for a baseline or rule-of-thumb for how much you should be saving, which is certainly conjecture on my part based on your question, you should be looking for people in your age group and lifestyle to get a benchmark, then think about for what it is you are saving. Retirement? College? A Maserati? A rainy day?

Someone in a higher tax bracket with more disposable income will be able to save a lot more. Lower income people may still be able to save quite a bit if they are in a dual-income, no kids situation and live frugally. Other people cannot save due to medical expenses, student loans, or the simple fact that they have kids that eat so much food- they just never seem to stop, do they? How does someone half my size eat twice as much as me? And how do they wear holes in their pants every week?

So you see, the average amount someone save will vary widely for a number of very good reasons. If you just want to see the personal savings rate in general, the St. Louis Fed tracks this information here: Personal Saving Rate

"Personal saving as a percentage of disposable personal income (DPI), frequently referred to as “the personal saving rate,” is calculated as the ratio of personal saving to DPI." -St. Louis Fed

[~bs]

at least 3-4k, if you're including pension contributions, roth, and 401k contributions as well.. Seriously a dart throw at the wall figure though. It really depends though on the level of business income as well. Anything I take home after taxes and expenses is considered additional savings on top of my regular income. Maybe closer to 5k -6k if that's included.