# How much of your net income do you save?



## dan123elvin (Jun 15, 2010)

Just wondered what percentage of their net income people save to see how i am doing myself. I save 50%. I have a house with a mortgage and a car and im 25. Just wanted to gauge a response to see what the average saving percentage was.


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## Avanti (Jan 17, 2006)

Between 30-50% but like to spend it as well :thumb:


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## turboyamaha (Nov 18, 2010)

Between nothing and 0. Spend it all on here!!


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## Neil_S (Oct 26, 2005)

I'm doing about 40-50% at the moment


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## lofty (Jun 19, 2007)

dan123elvin said:


> Just wondered what percentage of their net income people save to see how i am doing myself. I save 50%. I have a house with a mortgage and a car and im 25. Just wanted to gauge a response to see what the average saving percentage was.


If your able to save 50% you should be over paying your mortgage.Your savings will be making virtually nothing in the bank.


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## turboyamaha (Nov 18, 2010)

Very true!


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## Mike! (Jul 3, 2010)

10% a month and I don't even know what Im saving for


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## SBerlyn (Nov 9, 2008)

At the moment, around 75% - I'm 19, living at home with low overheads, I own my car and work locally so have little travel costs.

Saving for a deposit on a mortgage...


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## dan123elvin (Jun 15, 2010)

lofty said:


> If your able to save 50% you should be over paying your mortgage.Your savings will be making virtually nothing in the bank.


Yep im saving for a new car at the minute. Once thats done i will be in September when my 2 year mortgage rate expires.


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## toomanycitroens (Jan 14, 2011)

Not enough.............


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## dan123elvin (Jun 15, 2010)

toomanycitroens said:


> Not enough.............


Whats a decent percentage then?


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## McClane (Dec 9, 2010)

toomanycitroens said:


> Not enough.............


x2! :wall:

God only know's what I spend it on. Actually, that's not true... Petrol, Food, house/bills, getting dent's removed from my car.

Generally about 25%. Getting much better (maybe just paid more), but did buy a car last year...

Pension/student loan payments soak up quite a bit of what would be "spare" after tax/outlays, but could do with more discipline.


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## R0B (Aug 27, 2010)

nothing at all percentage wise,i tend to put away sporadically when i feel guilty about not saving


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## kh904 (Dec 18, 2006)

SBerlyn said:


> At the moment, around 75% - I'm 19, living at home with low overheads, I own my car and work locally so have little travel costs.
> 
> Saving for a deposit on a mortgage...


I'm in a similar situation as yourself. 
Work locally, so walk 45min to work (no cost, less stress not stuck in traffic and healthier).

Most (around 75%) is saved per month, but varies some months with a few large expenses (car insurance, servicing etc). I always pay the car insurance in one hit, can't see why i should pay 10% extra for the privilege to pay monthly.

I'm saving for a deposit for a house, but still at it at 30yrs old, still at the parents lol. 
You don't get alot of of home for your money in london!


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## amiller (Jan 1, 2009)

I save about 30% and then a week later I'll go and take out about 90% of what I've just put in! :lol:

It is difficult to see the big picture sometimes though.


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## CraigQQ (Jan 20, 2011)

i was saving around 80% a month until i started detailing!! now im lucky if i manage 20%

:lol: plus ive now blown all my savings on my car and detailing kit, trying to hold back from spending... then people tell me about drills turned into swirl spotters for £40 and pasta machines to fold my clay and the bank account gets smaller and smaller!!

my bank manager is probably looking at my account thinking.... how many cars does this guy own? he has enough stuff to clean 10 cars and is still buying more!!


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## andyboyo (Dec 4, 2009)

I save about 30% for holidays, car insurance and tax and repair/servicing costs for 2 cars, Xmas and general long term savings for home improvements etc. I also have a work share scheme 2-for-1

I spend about 50% on household bills, direct debits etc including large overpayments into my mortgage.

The other 20% I spend on myself for everyday items like socialising.


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## Philb1965 (Jun 29, 2010)

About 60% spare each month which is all being used to clear my mortgage but I keep a rainy day fund. Should be mortgage free by the end of next year which can't come soon enough, it opens up a whole load of life choices.


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## grant_evans (Mar 2, 2008)

dont have a clue as a percentage but over the last 23 years ive managed to save £50 in total.


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## Shiny (Apr 23, 2007)

We work on a quite strict budget (household bills, petrol, kids activities, shopping etc) and a small fixed amount of "pocket money". My monthly income is quite variable depending on whether it has been a good month or not. Anything over and above that goes into an account to pay the tax man twice a year and an annual lump sum off a loan. If we are lucky enough to have a little left over, then we treat ourselves (when i say ourselves, most likely something for the house!) or the kids.

What each person saves will vary considerably on what you earn and your personal circumstances. For us, the mortgage, bills and food come first. Then the kids (one is learning the guitar, the other the piano, they go to karate and one does gymnastics), if there is any left over, we can treat ourselves. Hand to mouth isn't a bad thing though, you can't take it with you


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## ak07 (Dec 4, 2010)

grant_evans said:


> dont have a clue as a percentage but over the last 23 years ive managed to save £50 in total.


lol:thumb:


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## CoopersE91 (Oct 29, 2010)

Hmmmmm precisely?










Feck all....


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## matthewrblack (Nov 7, 2010)

I dont save a great deal but I pay a large amount into my pension, at 26 thought it's a bit strange to think that far ahead.


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## bjarvis2785 (Oct 4, 2008)

don't really have a set percentage... could be anything from nothing to £1k+ 

We've been doing loads on the house the last year or two so have been spending rather than saving.


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## mba (Jun 17, 2006)

fook all squared, i have recently bought a house and got married so and spare cash is on the house


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## Techgeek (Jun 7, 2007)

15% into retirement and a 4% company match, then whatevers left from the budget at the end of the month goes into mortgage overpayment. Got 3 months basic living expenses as an emergency fund, will soon up it to 6 as an extra safety net as job not looking too safe so doing some part time self employed stuff. 
I can thoroughly recommend the Dave Ramsey plan, you can download some of the financial peace university stuff from the internet free and his books are pretty cheap.


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## WRX_Paul (Apr 27, 2010)

I have never saved for anything in my life, had probably 5 loans over the last 17 years for cars and always spend all of my money each month, and don't have a pension.


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## mattc (Aug 12, 2008)

Save about 20% at present, which is going towards a massive holiday in the summer.

Then not sure what i'll save for after that probably a deposit for a new house.

When I pay my load of i'll be saving about 50% of my wages but that'll be in a couple of years. 

Me and the wife also save a few hundred from the joint account each month as well.


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## big ben (Aug 25, 2009)

nothing, i owe money 

i pay for everything at my house though basically (mug), but my mrs is basically a house wive at the moment.. i plan to start saving soon as i need a bigger house and a garage


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## Dixondmn (Oct 12, 2007)

I save about 50% of the wifes and my monthly salary, with a view to making another bulk over payment on the Mortgage or possibly replace the Mrs Car when/if she quits her job.

Other than that, we've doubled our regular monthly mortgage payment too.

*2011 is the year of the 'fortress balance sheet'* in my house... we NEED to be in the best possible position when interest rates begin to climb.


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