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How much do you put into a savings account every paycheck?

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Asked by navajomama7 at 9:41 PM on Aug. 2, 2010 in Money & Work

Level 17 (3,445 Credits)
Answers (14)
  • Nothing... I see no point in saving money knowing that I may never get the chance to spend it...

    Answer by SabrinaMBowen at 9:42 PM on Aug. 2, 2010

  • Right now zero-- hey at least I'm consistent.
    Honestly though we're on the Dave Ramsey plan- baby step #2. So every penny after bills are paid and grocery money is taken out goes towards debt. After we've paid it all off then every extra penny will be going towards savings!

    Most financial advisers would suggest that you save 10% of your income. I personally agree with Dave though- don't put a limit on savings :)

    Answer by Erica_Smerica at 9:44 PM on Aug. 2, 2010

  • Depends on how much money we spend from the paycheck. We try and save around $10,000 a year.

    Answer by kaylan010 at 9:45 PM on Aug. 2, 2010

  • 5% of the take home should be doubled but for now that's where it's at.

    Answer by michiganmom116 at 9:45 PM on Aug. 2, 2010

  • We put about 8% of our pay checks into savings. (That's 8% of the NET pay) As soon as our debt is gone we will be putting about 20% of our NET pay into savings every month.

    Answer by SAHMinIL2 at 9:54 PM on Aug. 2, 2010

  • Not a lot. 5 bucks a week into our sons, and however many times we swipe the debit card for ours. Avg of 10 times a week

    Answer by ToriBabe1221 at 9:55 PM on Aug. 2, 2010

  • We have $170 going into an IRA for me that will be for retirement. We have $130 going into an IRA for my husband that we will withdraw principal from in 5 years to go on a big trip when my husband has sabbatical. Then we have $150 going into a 529 college fund for our daughter. We don't regularly put money into our savings account. We have some money in there, but we mostly use that as overdraft protection.

    Answer by Anonymous at 10:03 PM on Aug. 2, 2010

  • That's per month, not per paycheck.

    Answer by Anonymous at 10:04 PM on Aug. 2, 2010

  • About 75% of my entire net teaching salary is put into savings or investments. We live on my husband's salary and rental property income. I keep the remaining 25% of my salary for whatever I want to with it.

    Answer by LoriKeet at 10:48 PM on Aug. 2, 2010

  • I put in 200 per month and DH puts in 100 per month. I make more than him :)

    Answer by AidensMommy608 at 10:16 AM on Aug. 3, 2010

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