Questions for the Group

[Guest]

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

[Author]

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