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How much should I be saving each month %?

Discussion in 'Personal Finance' started by KiKi, Aug 8, 2018.

  1. KiKi

    KiKi Registered

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    Is there a certain % I should be saving each month?
     
  2. Matt

    Matt Registered

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    I think that really depends on your expenses, first calculate how much you have that you can invest and what you want to achieve.

    What's your goals?
     
  3. l00xzy

    l00xzy Registered

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    I believe, setting a goal in your life is very important. And I'm not sure how much is the average % of savings, mine is 30%.
     
  4. Pipster

    Pipster Partner Registered

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    Like the others said - it depends on your budget.
    If you're barely making ends meet - you'd better start a side hustle or find a better paying job.
    If you've never saved any cash - a good start would be 5-10% of what you make. Each month and every month.
    Put them in a savings account. As you start making more - raise the %.
    Once you get a big enough sum - invest it in something that will pay you dividends every single month.
    Put those dividends aside and reinvest them.
    And the wheel keeps on turning.

    Make sure your money are making more money. That's the rule I'm trying to stick to.
     
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