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View Poll Results: What % Of Your Household Income Do You Save?
< -50% (You spend greater than 150% of your income) 1 2.27%
-50% to -30% 0 0%
-30% to -10% 0 0%
-10% to 0% 2 4.55%
0% to 5% 1 2.27%
5% to 10% 6 13.64%
10% to 20% 10 22.73%
20% to 30% 6 13.64%
30% to 40% 4 9.09%
40% to 50% 6 13.64%
50% to 60% 4 9.09%
60% to 70% 2 4.55%
70% to 80% 2 4.55%
80% to 90% 0 0%
>90% 0 0%
Voters: 44. You may not vote on this poll

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Old 05-13-2008, 05:04 PM
 
Location: Bike to Surf!
3,080 posts, read 10,364,529 times
Reputation: 3003

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What % of your income goes into savings: Bank savings, principle on property 401K, and/or stable stocks/bonds/mutual funds? Edit: Or other serious and stable investments that I haven't thought of?
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Old 05-13-2008, 08:41 PM
 
20,194 posts, read 21,682,826 times
Reputation: 9242
Well I have quite a bit in retirement so and pay my bills and SPEND WISELY (i.e. don't live beyond my means)... I put 65% into retirement (401k, IRA, mutual fund, and whole life insurance) AND I also paid 20% of my income to student loans... this leaves me with only 15% to pay rent, food, cellphone, gasoline, and internet (and NOTHING else, everything else is a LUXURY... albeit I do have luxuries in there such as cellphone, gasoline, and internet). It means I don't have money to go out, watch a movie, spend on luxuries etc etc... Everyone makes fun of me because I save so much, they say "Don't save, go out and enjoy life."... Yet when nobody is looking at "them" they are the worst penny pinchers than me... strange... they call me "cheap" to my face, but THEY are the cheapest people I know (they also hoard their cash)... I am spendthrifty compared to them...
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Old 05-14-2008, 01:00 AM
 
27,687 posts, read 57,003,763 times
Reputation: 22258
Quote:
Originally Posted by evilnewbie View Post
Well I have quite a bit in retirement so and pay my bills and SPEND WISELY (i.e. don't live beyond my means)... I put 65% into retirement (401k, IRA, mutual fund, and whole life insurance) AND I also paid 20% of my income to student loans... this leaves me with only 15% to pay rent, food, cellphone, gasoline, and internet (and NOTHING else, everything else is a LUXURY... albeit I do have luxuries in there such as cellphone, gasoline, and internet). It means I don't have money to go out, watch a movie, spend on luxuries etc etc... Everyone makes fun of me because I save so much, they say "Don't save, go out and enjoy life."... Yet when nobody is looking at "them" they are the worst penny pinchers than me... strange... they call me "cheap" to my face, but THEY are the cheapest people I know (they also hoard their cash)... I am spendthrifty compared to them...
That leaves nothing to pay your taxes...
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Old 05-14-2008, 03:20 PM
 
Location: Bike to Surf!
3,080 posts, read 10,364,529 times
Reputation: 3003
Clarification: Please vote with your After-Tax net income!
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Old 05-14-2008, 04:02 PM
 
20,194 posts, read 21,682,826 times
Reputation: 9242
Quote:
Originally Posted by Ultrarunner View Post
That leaves nothing to pay your taxes...
Excuse me? Those are after tax dollars... in fact, I get a refund every year from taxes... I pay my taxes each month like everyone else...
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Old 05-14-2008, 04:21 PM
 
69,360 posts, read 58,829,296 times
Reputation: 9373
Quote:
Originally Posted by evilnewbie View Post
Well I have quite a bit in retirement so and pay my bills and SPEND WISELY (i.e. don't live beyond my means)... I put 65% into retirement (401k, IRA, mutual fund, and whole life insurance) AND I also paid 20% of my income to student loans... this leaves me with only 15% to pay rent, food, cellphone, gasoline, and internet (and NOTHING else, everything else is a LUXURY... albeit I do have luxuries in there such as cellphone, gasoline, and internet). It means I don't have money to go out, watch a movie, spend on luxuries etc etc... Everyone makes fun of me because I save so much, they say "Don't save, go out and enjoy life."... Yet when nobody is looking at "them" they are the worst penny pinchers than me... strange... they call me "cheap" to my face, but THEY are the cheapest people I know (they also hoard their cash)... I am spendthrifty compared to them...
If you can live off 15% of your income, then your either living with someone else that pays a large percentage of your bills, living under a bridge, or you have a huge paycheck.
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Old 05-14-2008, 04:47 PM
 
3,490 posts, read 7,694,960 times
Reputation: 3962
Quote:
Originally Posted by pghquest View Post
If you can live off 15% of your income, then your either living with someone else that pays a large percentage of your bills, living under a bridge, or you have a huge paycheck.
I was just thinking the same thing. 15% of income INCLUDING housing? Maybe he still lives with parents? Wow.
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Old 05-14-2008, 05:06 PM
 
Location: Forests of Maine
32,699 posts, read 53,258,451 times
Reputation: 22738
Quote:
Originally Posted by sponger42 View Post
Clarification: Please vote with your After-Tax net income!
Learn to itemize your taxes and keep yourself sheltered; and you won't be paying income taxes. It changes the math a lot
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Old 05-14-2008, 05:09 PM
 
Location: Forests of Maine
32,699 posts, read 53,258,451 times
Reputation: 22738
Quote:
Originally Posted by evilnewbie View Post
Excuse me? Those are after tax dollars... in fact, I get a refund every year from taxes... I pay my taxes each month like everyone else...
1. you pay into taxes each month,
2. you get a refund from the amount that you over-paid each year.

This means that you have too much being taken out from your pay-check.



3. Not everyone pays into income taxes each money. Not everyone pays into income taxes each year either.
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Old 05-14-2008, 05:14 PM
 
358 posts, read 487,362 times
Reputation: 57
I save money but not in the traditional sense.
I owe no money on my home or land (183 acres), I live off grid and only use a computer at work, grow, shoot, fish or trap most of my families food and never ever use a bank to put my money in.

My out of pocket expenses are very little, less then 20% of my total income.
What I do invest in is hard currency such as gold, silver and items that can be bartered.
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