Current Events > How good/bad is being able to save $500 a month?

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_Squirtle_
09/23/18 6:38:42 PM
#1:


after taxes, bills, miscellaneous payments etc.
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Burgess
09/23/18 6:39:03 PM
#2:


Depends on how much you make.
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#3
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_Squirtle_
09/23/18 6:40:15 PM
#4:


Burgess posted...
Depends on how much you make.


I personally make 40k before taxes
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Burgess
09/23/18 6:42:06 PM
#5:


If you make 40k a month then only saving 500 is pretty bad.
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Space_Man
09/23/18 6:42:46 PM
#8:


Pretty good, but depends on your income, monthly expenses, etc.

Basic idea of how I manage my money is rule of 3rds - 1/3 to expenses, 1/3 to savings, 1/3 to personal spending which I split 1/6 investing, 1/6 spending money.

As long as you're saving more money than you're spending you should be good; all that saving more does is give you more wiggle room should anything come up.
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_Squirtle_
09/23/18 6:43:52 PM
#9:


Burgess posted...
If you make 40k a month then only saving 500 is pretty bad.


Oh Burger you tickle me
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lifeamovie
09/23/18 6:56:39 PM
#10:


If you're making 40k a month and spending 39k you're either living it up or building your wealth

saving 500 after that sounds pretty good
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