Questions for the Group

1. What is your ideal percentage of earnings that you would put in into savings? 2. Would you put the money into one place, or into different accounts (e.g. retirement/401K, college, emergency, etc.)?

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  1. #1
    mommyto2zs
    Guest

    Default Questions for the Group

    1. What is your ideal percentage of earnings that you would put in

    into savings?



    2. Would you put the money into one place, or into different

    accounts (e.g. retirement/401K, college, emergency, etc.)?



    3. What percentage or dollar amount do you save currently?



    4. If your answer to #1 doesn't match your anser to #3, what (if

    anything) are you doing to make the answers closer?



    Since I asked, I will go first:



    1) 15%.



    2) 10% for retirement, 3% for college funds, and 2% or more to

    emergency fund.



    3) We save 6% of DH's salary every paycheck, matched 100% by his

    employer, to his 401K. We then save $100 a month from my paycheck.

    We earn about the same, though, so it is less than I would like to

    save. Overall, the 12% of his salary is about 6% of our total

    income. The $100 goes to our emergnecy fund.



    4) Every month, I look at our budget and see what needs adjusting.

    Also, whenever we have a "surplus," I either put that money directly

    into our emergency fund or put more toward outstanding medical

    bills. It is not consistent though, and I would love to be putting

    more like $300 into our emergency fund every month.



    Thanks in advance for answering!



    Amy










  2. #2
    Herlean
    Guest

    Default Questions for the Group

    Ideally, I would like to save one of my DH's paychecks every month. (The full gross amount, not the net.)

    We put money into our retirement accounts (401k's), and I would like to fund a couple of Roth IRAs as well.

    Currently, we are working on paying off debts, so the Roth funding has to wait for the time being. That is why 1 does not match 3.

    H -



    mommyto2zs <apokras@yahoo.com> wrote: 1. What is your ideal percentage of earnings that you would put in
    into savings?

    2. Would you put the money into one place, or into different
    accounts (e.g. retirement/401K, college, emergency, etc.)?

    3. What percentage or dollar amount do you save currently?

    4. If your answer to #1 doesn't match your anser to #3, what (if
    anything) are you doing to make the answers
    closer?

    Since I asked, I will go first:

    1) 15%.

    2) 10% for retirement, 3% for college funds, and 2% or more to
    emergency fund.

    3) We save 6% of DH's salary every paycheck, matched 100% by his
    employer, to his 401K. We then save $100 a month from my paycheck.
    We earn about the same, though, so it is less than I would like to
    save. Overall, the 12% of his salary is about 6% of our total
    income. The $100 goes to our emergnecy fund.

    4) Every month, I look at our budget and see what needs adjusting.
    Also, whenever we have a "surplus," I either put that money directly
    into our emergency fund or put more toward outstanding medical
    bills. It is not consistent though, and I would love to be putting
    more like $300 into our emergency fund every month.

    Thanks in advance for answering!

    Amy




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  3. #3
    Ria
    Guest

    Default Questions for the Group

    1. What is your ideal percentage of earnings that you

    would put in into savings?



    RIA: Ideally, I would say 15%. I believe that's the

    max that we are allowed to contribute to my company's

    401K plan...and it seems like an ideal amount.



    2. Would you put the money into one place, or into

    different accounts (e.g. retirement/401K, college,

    emergency,etc.)



    RIA: Since our emergency fund is already fully

    stocked, I would say that of the 15%, 10% should be

    towards retirement and 5% should be towards my

    daughter's future.



    3. What percentage or dollar amount do you save

    currently?



    RIA: I contribute 8% of my gross income to a 401K

    plan, and my company matches an additional 3% (total

    11%). My husband also contributes $30/week to a 401K

    plan. Both of us put $10 into a high interest savings

    account for my daughter's future.



    4. If your answer to #1 doesn't match your anser to

    #3, what (if anything) are you doing to make the

    answers closer?



    RIA: Well, at the moment, we're doing nothing. We

    recently moved to a better neighborhood and are still

    trying to get a feel for our expenses. Also, I've

    fallen off the frugal bandwagon, so I haven't been

    contributing to my savings other than the 401K. I

    used to put $100-$200 a week into a savings account.

    Not any more.



    -- mommyto2zs <apokras@yahoo.com> wrote:



    > 1. What is your ideal percentage of earnings that

    > you would put in

    > into savings?

    >

    > 2. Would you put the money into one place, or into

    > different

    > accounts (e.g. retirement/401K, college, emergency,

    > etc.)?

    >

    > 3. What percentage or dollar amount do you save

    > currently?

    >

    > 4. If your answer to #1 doesn't match your anser to

    > #3, what (if

    > anything) are you doing to make the answers closer?

    >

    > Since I asked, I will go first:

    >

    > 1) 15%.

    >

    > 2) 10% for retirement, 3% for college funds, and 2%

    > or more to

    > emergency fund.

    >

    > 3) We save 6% of DH's salary every paycheck, matched

    > 100% by his

    > employer, to his 401K. We then save $100 a month

    > from my paycheck.

    > We earn about the same, though, so it is less than I

    > would like to

    > save. Overall, the 12% of his salary is about 6% of

    > our total

    > income. The $100 goes to our emergnecy fund.

    >

    > 4) Every month, I look at our budget and see what

    > needs adjusting.

    > Also, whenever we have a "surplus," I either put

    > that money directly

    > into our emergency fund or put more toward

    > outstanding medical

    > bills. It is not consistent though, and I would love

    > to be putting

    > more like $300 into our emergency fund every month.

    >

    > Thanks in advance for answering!

    >

    > Amy

    >

    >

    >









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  4. #4
    Sheri Adams
    Guest

    Default Questions for the Group

    Sincerely,

    Sheri L. Adams, Poet, Artist, Writer

    Mentor-Woman of Worth



    ----- Original Message -----

    From: mommyto2zs

    To: Budget101_@yahoogroups.com

    Sent: Monday, February 19, 2007 5:02 PM

    Subject: Budget101.com : Questions for the Group





    1. What is your ideal percentage of earnings that you would put in

    into savings?



    I am not allowed to save money on my disability pension here in Ontario

    Canada.



    2. Would you put the money into one place, or into different

    accounts (e.g. retirement/401K, college, emergency, etc.)?



    2 funds - an emergency one and a fun one like saving for a vacation - if I

    could save.



    3. What percentage or dollar amount do you save currently?



    o%



    4. If your answer to #1 doesn't match your anser to #3, what (if

    anything) are you doing to make the answers closer?



    not allowed to change anything






  5. #5
    Andrea Fiske
    Guest

    Default Questions for the Group

    I'm guessing you cannot have a "savings acct" at a bank (per Canadian

    rules), but there's no reason you can't have an emergency acct at home.

    Start with saving some change, maybe quarters or dimes, in a jar. When you

    have some dollars, change them into Loonies or Twonies. You can keep them in

    your freezer as it would probably be the last thing to burn if you had a

    fire. Keep them in the back on a lower shelf in a container you can't see

    thru and mark it LIVER or some other (typically) yucky food. (I love liver

    so it wouldn't work here). This is pretty much "the cookie jar

    method", but a bit safer. You should aim for enough to carry you thru if

    your check is late for some reason. Hope this helps you out.







    Blessings, Andrea in Mass. <><



    >Sincerely,

    >Sheri L. Adams, Poet, Artist, Writer

    >Mentor-Woman of Worth

    >



    >

    > 1. What is your ideal percentage of earnings that you would put in

    > into savings?

    >

    > I am not allowed to save money on my disability pension here in Ontario

    >Canada.

    >



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