How much do you save in a month?

[Sanjeev]

Because of the high price of everything here, saving money has become difficult now. I remember in the past I used to save 50% of my salary, but now I am able to save only 20-30%, which I think is not good.

How much money do you save in a month? How can I increase my savings? How much saving do you think is sufficient to do?

 

[arunima25]

Inflation is a constant thing in any country and it impacts developing economy more. It does hurt but is actually unavoidable. I don't save money as such like a regular saving. But yes, I have buckets for emergency fund, Recurring deposit ( I turn them into Fixed Deposit or some investment later), and other investments etc. So, it's basically the surplus going in investments and ways to grow it. We Keep visiting our financial portfolios every now and then as the situations keep changing and the financial obligations and priorities also keep changing.

 

[Kennysplash]

Honestly, I try to save a portion of my income regularly, whether it's weekly, bi-weekly, or monthly. I've found that setting aside a fixed amount helps me stay consistent and build a safety net for unexpected expenses. The amount is not fixed for me, but I make sure that I save something.

 

[Ginger]

Presently I'm not saving anything although I should start soon and save at least $100 every month.

 

[Sanjeev]

@Ginger That will be fine if we start it with a small amount and then gradually increase the amount. The main thing is to save something for future emergencies. It's very important to do that.

 

[uptrendfinancialsignal]

Saving needs a very serious discipline. I won't pretend that it's easy. In some months, I save, other months I just survive. I try to put at least 20% of my income aside, but if I have unpaid bills,.I might not save at all. Sometimes, unexpected bills can surface from nowhere. I use PiggyVest to lock my funds, so I don’t touch it easily. That app helped me a lot. During December, I usually open everything and buy myself nice things before starting again. Honestly, saving is not easy, but once you build the habit, it makes sense a lot.