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What Percentage of Your Paycheck Do You Spend and Save

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SnorkBoard
Posts: 311 - Karma: 821
Whats your guys ratio?

I've been putting too much in savings and keep dipping into there when I want to buy something big, but I should break that habit by just putting a little more of each paycheck in checking and not touching my savings account.

Also, what sort of purchases does the money in savings go towards? House? Ring? Car?


asking a website of primarily 12 year olds might not work but I'm going to try...

May 19 2013 12:10AM
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Balbertt
Posts: 1585 - Karma: 4,723
I have 4 different places I put my money. I have my paypal, which I use for buying stuff online. Mostly from NS. Then my bank account which is primarily savings(I have a debit card too). Then slot #1 in my wallet is to buy everyday stuff like food. Slot #2 is my backup money that I forget is there, but is there when I need it.
May 19 2013 12:15AM
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Dustin.
Posts: 13839 - Karma: 7,704
Half my savings goes towards retirement in the form of an IRA and the rest to TSP once I max the IRA for the year. The other half is put into the pot for a downpayment on a house in the next few years. My savings are approximately 18-20% of what I make right now, but I own both cars outright and we don't have a dime of debt so it could be a bit more.

I'm hoping to get more aggressive with the house savings by next month after this move is over and I don't need extra cash just in case. It would be awesome to have that money ready to go when the time is right.
May 19 2013 12:17AM
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Z-Juice
Posts: 3151 - Karma: 1,504
I'll be honest with you - I am not quite sure what a checking account is but I am assuming it has to do with ya know - checks.

I earn $9.30 an hour and I put half of that into savings at an absolute minimum. Recently I had roughly $522 and I put $302 of that into savings, which is about 58%. I am saving up for a new ski setup so that is the only reason I took so much cash out. I will most likely be putting at least 75% of my pay into savings for the rest if summer.
May 19 2013 12:20AM
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GayWolf420
Posts: 36680 - Karma: 110,560
Checking is pretty much just useable money for purchases I'd say.














Well my car payment is usually $175/month. Other than that, I just save most of it. Spent waaaay to much of my dinero on stupid shit last year. Plus my job is not letting us go over our overtime as much as we did last year and I made a shitload from that.
May 19 2013 12:25AM
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chapz
Posts: 10182 - Karma: 66
I just put everything in my savings, then usually take out a nice portion every month for what i'll need to pay, like my cell bill and going-out money. for big purchases, i just use credit, then pay it off as soon as it shows up online.
May 19 2013 12:38AM
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Funnel
Posts: 7808 - Karma: 1,414
I'm in the same dilemma, OP. Just got a summer job and don't really know how I want to divy it up yet. I'm considering 25% into a 401k, 50% to school/rent, 25% to other stuff (20% skiing).
May 19 2013 12:50AM
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Rafiki
Posts: 3858 - Karma: 2,251
make $15 an hour, but only work weekends. try and put 1/3-1/2 in savings
May 19 2013 1:21AM
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Darth.Maul
Posts: 2472 - Karma: 652
First I pay myself. Usually about 40% of my paycheck which splits up into food, gas, and when I get my next paycheck, the leftover amount goes into my "spending fund" which I use to buy expensive shit. Now that its summer and I no longer have books to pay for its up to around 60% of each paycheck goes to myself and the other 40% in savings. Probably going to be saving a lot more soon as I am going to start looking for a new job where my wage is now clamped at $12.50 because I'm a guy. (Bullshit if you ask me.)

Thats my routine and its been working well. I've found that little things to save money go a long ways like couponing to save money for food and stuff like that. I can see significant amounts of excess money going into my spending fund when I focus on little things to save money.
May 19 2013 1:21AM
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maximiliaan
Posts: 7710 - Karma: 2,849
ive got an 100% spend ratio
May 19 2013 5:13AM
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eheath
Posts: 61098 - Karma: 118,247
spend 100% paying bills sucks.
May 19 2013 5:53AM
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ween
Posts: 153 - Karma: 27
I setup my account to automatically put $300 into my savings every two weeks, and I don't touch that shit. Been doing it for a a year or so, starting to add up quite nicely.
May 19 2013 6:12AM
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ggfski42
Posts: 651 - Karma: 700
spending paycheck to paycheck sucks. luckily just got a new job so i hopefully can save a little.
May 19 2013 9:27AM
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louie.mirags
Posts: 6015 - Karma: 5,028
Living paycheck to paycheck here on gi bill.. sucks but college after choosing military first is fun.
May 19 2013 9:44AM
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TOAST.
Posts: 7264 - Karma: 33,270
Drive 90 minutes to an internship 3 days a week currently, so a lot of it is going in my gas tank.
I dont really spend that much money besides essentials, so I just wait until I have a certain amount in my checking then the rest goes into savings.
May 19 2013 11:17AM
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