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    Default % of income to savings

    What % of your income goes to savings ea pay?

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    No idea what DH is doing for us as I don't understand the budgeting program he's using, but when I was younger, dad always told me to put 10% of my pay into savings. I saved loads when i was younger, but I also had no responsibilities at the time so not even sure if it would be feasible now (I hope it would be!)

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    10% for me

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    Just calculated it and it works out its 12-14% of our combined income after tax. Thats our car/rainy day/holiday money. We also have another account for bills which we pay into but I guess thats more living expenses than savings

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    We save around 15% into a rainy day account. Once I go back to work my pay mainly goes into saving/homeloan and we just live off dh's pay

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    Default % of income to savings

    None. And when I say none, I mean we don't put anything aside as we just leave everything in the offset account.

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    About 6% (dh and my income after tax combined). That doesn't include rainy day money which goes into a different account.

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    I can't work out what percent lol... Both DP and I both put in $200 each to our joint savings every fortnight. We then both have personal savings as well.

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    Quote Originally Posted by BigRedV View Post
    None. And when I say none, I mean we don't put anything aside as we just leave everything in the offset account.
    This is us. When we have a mortgage we have no savings as the interest on a mortgage is greater than any savings account you will find - especially these days. So we have all bills money in the offset account and any extra goes on to the mortgage.

    When we don't have a mortgage we usually save 20-30% of our income me.

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    Quote Originally Posted by binnielici View Post
    This is us. When we have a mortgage we have no savings as the interest on a mortgage is greater than any savings account you will find - especially these days. So we have all bills money in the offset account and any extra goes on to the mortgage.
    Same here - our mortgage is huge so everything (other than shopping/necessities money) goes into that (with a redraw) so if a big bill comes thats where we take it from. We are careful with it and usually have a lot that we are able to redraw just in case.


 

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