Find out how much to save per month no matter what your income is. Click here to find out.
There’s no right answer to tell you. We cannot say save $1000 if your salary is for instance $500. However, there are percentages that can help you determine how much you should spend and how much is preferable to save.
There’s one popular budgeting rule known as the 50/30/20 rule. This means that you should spend 50% of your salary on utilities like bills, groceries, gas and/or rent. 30% should go on other things like entertainment, going out, and so on, and 20% of your salary should go into your savings account.
Unfortunately, not all people are not able to save this amount of money. Thus you can change this rule according to your material status. Let’s explore this topic more deeply. Let’s find out how much to save monthly, how to set up your savings goals, where you should put your savings, and a couple of ways to increase your savings account.