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How much should one try to save every month to have a secure financial future?

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I have heard that one should save at least 10% of monthly salary. But, I wonder how much one should try to save to build a secure financial future?

First of all, you need to assess how much you require for your present lifestyle. Then, you need to figure out how much you require for financial security. This calculation will help you decide how much to save every month. At least you should try to save 10% of your paycheck. Try to save 20% for your better financial future.

Sub: #1 posted on Thu, 10/20/2016 - 14:22

Good Nelly Good Nelly
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Have you heard about 50/30/20 rule? THe rules suggests that you should separate your monthly budget into three different parts in 5:3:2 ratio. 50% of the income must be reserved for essential costs like-housing and food, 30% must be considered for lifestyle costs like - parties, music, movies, etc. and more or less 20% must be allocated toward “financial needs.” So, your debt payments, retirement saving, and, of course, investments may be included within this category.

Sub: #2 posted on Mon, 10/31/2016 - 02:41

tiarajoseph11 tiarajoseph11

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