# How much do you save? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [December 15, 2010, 6:59pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262 "2010-12-15T18:59:47Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Malthus](https://avatars.discourse-cdn.com/v4/letter/m/85f322/32.png) [@Malthus](https://boards.straightdope.com/u/Malthus)\ **Post date:** [December 15, 2010, 6:59pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/1 "2010-12-15T18:59:47Z")
Specifically, I’m curious to know: - Where you are from; and - What percentage of your after-income-tax income you save on average, per month, excluding regular mortgage payments; and - What percentage you spend on regular mortgage payments (if any). I’ll start: - I’m Canadian; - I save 33% of my after-tax income; and - I spend 21% of my after-tax income on mortgage. I’m excluding from consideration the tax effect of savings (some of those savings go into an RRSP, which has tax implications). ---
**Author:** ![villa](https://avatars.discourse-cdn.com/v4/letter/v/bc79bd/32.png) [@villa](https://boards.straightdope.com/u/villa)\ **Post date:** [December 15, 2010, 7:02pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/2 "2010-12-15T19:02:50Z")
British, living in the US. I save around 12% of my post-tax income. My mortgage is either 30% or 25% of my post-tax income, depending on the time of the year (social security max out increases my post tax income)… ---
**Author:** ![Procrustus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/procrustus/32/2994_2.png) [@Procrustus](https://boards.straightdope.com/u/Procrustus)\ **Post date:** [December 15, 2010, 7:38pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/3 "2010-12-15T19:38:33Z")
I’m outside Seattle,USA. I usually save 0% of my income. My two mortgages are about 10% of my typical monthly income. I have to send my ex wife $5000 per month, however. ---
**Author:** ![Motorgirl](https://avatars.discourse-cdn.com/v4/letter/m/e36b37/32.png) [@Motorgirl](https://boards.straightdope.com/u/Motorgirl)\ **Post date:** [December 15, 2010, 7:46pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/4 "2010-12-15T19:46:42Z")
Boston, MA metro area I’d have to actually check some statements to verify this, but I believe we save a little more than 40% of our post-tax income (I am including 401k and 403b plans) Mortgage is around 30% of our post-tax. ---
**Author:** ![El\_Kabong](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/el_kabong/32/496_2.png) [@El\_Kabong](https://boards.straightdope.com/u/El_Kabong)\ **Post date:** [December 15, 2010, 7:49pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/5 "2010-12-15T19:49:51Z")
Texas, USA. Currently saving 7% of after-tax income; mortgage is 22% of same. ---
**Author:** ![Dangerosa](https://avatars.discourse-cdn.com/v4/letter/d/22d042/32.png) [@Dangerosa](https://boards.straightdope.com/u/Dangerosa)\ **Post date:** [December 15, 2010, 7:51pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/6 "2010-12-15T19:51:10Z")
Something around 40%. Minneapolis, MN. Something around 10% on a mortgage on a second (marginally an investment) home. Its hard to do it post tax though - since about half of our savings is pre-tax in 401ks and deferred comp. And not all our savings is long term. I’m about to dip into savings to go on vacation. ---
**Author:** ![Kiros](https://avatars.discourse-cdn.com/v4/letter/k/439d5e/32.png) [@Kiros](https://boards.straightdope.com/u/Kiros)\ **Post date:** [December 15, 2010, 8:02pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/7 "2010-12-15T20:02:26Z")
I am working in Hartford, CT and living a suburb thereof. I save 10% of my pre-tax income through my 401(k), and receive another 3% of my pre-tax income as a partial match to that. I then save between 25% and 33% of my paycheck (post tax, post 401(k), post health insurance, etc), depending on what happens in any given month. I do not have a mortgage, but my half of the rent is 28% of my paycheck, and does not include utilities or anything else, so it’s pretty much where “mortgage” would be in my budget. ---
**Author:** ![Tastes\_of\_Chocolate](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tastes_of_chocolate/32/3232_2.png) [@Tastes\_of\_Chocolate](https://boards.straightdope.com/u/Tastes_of_Chocolate)\ **Post date:** [December 15, 2010, 9:02pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/8 "2010-12-15T21:02:43Z")
From the US. Mortgage is about 28% of post-tax earning. Retirement savings is about 21% Mid-term savings is about 5% (money being saved for projects like remodeling.) There is also short term savings, being short term, it gets spent. ---
**Author:** ![Tracyfish](https://avatars.discourse-cdn.com/v4/letter/t/f14d63/32.png) [@Tracyfish](https://boards.straightdope.com/u/Tracyfish)\ **Post date:** [December 15, 2010, 9:15pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/9 "2010-12-15T21:15:47Z")
From the US. I save a little over 10% of my post-tax income. My mortgage is a little under 25% of my post-tax income. ---
**Author:** ![perfectparanoia](https://avatars.discourse-cdn.com/v4/letter/p/a5b964/32.png) [@perfectparanoia](https://boards.straightdope.com/u/perfectparanoia)\ **Post date:** [December 15, 2010, 9:23pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/10 "2010-12-15T21:23:57Z")
The numbers I came up with really make me think. I spend 11% of my post tax on my mortgage and only save 6.5%. (Goes to budgeting spreadsheet to try and squeeze out more savings.) ---
**Author:** ![Hari\_Seldon](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/hari_seldon/32/5173_2.png) [@Hari\_Seldon](https://boards.straightdope.com/u/Hari_Seldon)\ **Post date:** [December 15, 2010, 10:44pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/11 "2010-12-15T22:44:04Z")
I live in Montreal and am retired. I am not really concerned with saving at this point, but I guess we do save some, under 10% for sure. No mortgage but about 6% of our combined goes for real estate taxes. ---
**Author:** ![MandaJo](https://avatars.discourse-cdn.com/v4/letter/m/ac91a4/32.png) [@MandaJo](https://boards.straightdope.com/u/MandaJo)\ **Post date:** [December 16, 2010, 12:40am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/12 "2010-12-16T00:40:52Z")
We save about 30% of our after-tax income. I also put about 6% into a pension plan, so that’s savings of a sort–if I leave before I am eligible to retire, I am pretty sure I can roll that into a different plan. Our house payment (mortgage + taxes + insurance) is about 20% of our after tax income. Strictly our mortgage would be 15%. We also tend to save the semi-predictable “windfalls” of each year–tax return, extra duty pay, bonuses, etc. Those can add up to an extra 20% of my salary, so that’s a significant second string of saving. But, like _Dangerosa_, we aren’t just saving for “someday”. A lot of this may be used for fertility treatments if we need them. If not, or in the aftermath, it’s designed as a nest egg so that my husband can stay home with the baby. We can live on just my income, but our rate of savings will slow to just those windfall payments, and even those will likely get tapped from time to time. I hear babies make finances less predictable. ---
**Author:** ![Rachellelogram](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/rachellelogram/32/8689_2.png) [@Rachellelogram](https://boards.straightdope.com/u/Rachellelogram)\ **Post date:** [December 16, 2010, 12:49am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/13 "2010-12-16T00:49:03Z")
I rent so I don’t pay a mortgage. But I’ll pitch in just in case anyone is still interested. I live in Naperville, IL. I save 0% of my income. My rent is 27% of my after-tax pay. ---
**Author:** ![Gus\_Handsome](https://avatars.discourse-cdn.com/v4/letter/g/e68b1a/32.png) [@Gus\_Handsome](https://boards.straightdope.com/u/Gus_Handsome)\ **Post date:** [December 16, 2010, 2:03am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/14 "2010-12-16T02:03:57Z")
Man you guys save a lot, I’m impressed and embarrassed because I’m what you call a financial fuck up. I make good coin, pay a hefty mortgage (2k) and can hardly save a dime. This thread will motivate me for my New Year’s resolution. Gus ---
**Author:** ![TheTerribleTako](https://avatars.discourse-cdn.com/v4/letter/t/ba8739/32.png) [@TheTerribleTako](https://boards.straightdope.com/u/TheTerribleTako)\ **Post date:** [December 16, 2010, 3:27am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/15 "2010-12-16T03:27:38Z")
Our current household savings is approximately 10% right now, but that’s mostly a combination of 401K and Roth IRAs. We’re trying to save more, but we’re living on one income right now and we had loads of assorted expenses recently due to moving and furnishing a new home. Ideally, after the New Year’s, we’ll be saving around 25-30% of after-tax pay. We’re renters, so no mortgage, but rent is approximately 26% of after-tax pay. ---
**Author:** ![Rand\_Rover](https://avatars.discourse-cdn.com/v4/letter/r/db5fbb/32.png) [@Rand\_Rover](https://boards.straightdope.com/u/Rand_Rover)\ **Post date:** [December 16, 2010, 4:02am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/16 "2010-12-16T04:02:55Z")
I can’t be arsed to calculate it right now, but I save quite an adequate amount. But sometimes I think the answer is “too much.” In my line of work, I make a decent living right now, and there’s a chance that I’ll eventually make a metric shitload. As in, I could eventually make a healthy multiple of my current total savings in a single year, and do that for several years. But on the other hand I make enough now that I don’t feel like I’m depriving myself or my family of anything by saving the amount I do. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [December 16, 2010, 7:39am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/17 "2010-12-16T07:39:18Z")
California 6% 401 K (not counting the company match, another 4%) About 12% additional. Now that the last kid is out of college, we are saving the tuition payment. Mortgage - something like 11%, but 3% of that is to my father-in-law, and since my wife is an only child, we are going to be getting it back. ---
**Author:** ![tr0psn4j](https://avatars.discourse-cdn.com/v4/letter/t/958977/32.png) [@tr0psn4j](https://boards.straightdope.com/u/tr0psn4j)\ **Post date:** [December 16, 2010, 10:39am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/18 "2010-12-16T10:39:31Z")
0% ---
**Author:** ![JoseArcadio](https://avatars.discourse-cdn.com/v4/letter/j/9fc348/32.png) [@JoseArcadio](https://boards.straightdope.com/u/JoseArcadio)\ **Post date:** [December 16, 2010, 10:56am UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/19 "2010-12-16T10:56:45Z")
Glasgow, UK. - I usually save 10% of my wage after income tax (for the next 6 months the 10% is paying off a loan instead of going into my savings). - No mortgage. Rent + council tax is 27% of my wage after income tax. ---
**Author:** ![Maastricht](https://avatars.discourse-cdn.com/v4/letter/m/a88e57/32.png) [@Maastricht](https://boards.straightdope.com/u/Maastricht)\ **Post date:** [December 16, 2010, 12:36pm UTC](https://boards.straightdope.com/t/how-much-do-you-save/564262/20 "2010-12-16T12:36:51Z")
Excluding pensions (those are mandatory and you can’t acess them) I save about 10 % of my income after taxes every month. Now that life is expensive because of our toddler, it is a little less. [Next page](https://boards.straightdope.com/t/how-much-do-you-save/564262.md?page=2)