Hello! If you are new here, welcome to my post detailing the ways you can learn how to save 50% or more of your income. I suggest that you read my welcome page (which lists my most popular and helpful posts) and my latest monthly blogging/online income report.
Before I started blogging, I thought a good percentage to save each month was anywhere from 10% to 20%. I have even read an article where a “finance expert” recommended 5% for retirement savings because they said it was good enough.
Now that I look back on those figures, that is just not nearly enough.
However, that's what many news articles will tell you. They will tell you that anywhere from 5% to 20% is all you really need. That might work for some, but that's just not good enough for me.
Recently, I was talking to someone who told me that they save around 85% of their after-tax income each month. I thought that was absolutely insane, but I was a little jealous.
This person goes a little to the extreme in order to save this crazy amount of money each month, but they are happy and that's all that matters, right?
Related tip: I recommend looking into Digit if you want to trick yourself into saving more money. Digit is a FREE service that looks at your spending and transfers money to a savings account for you. Digit makes everything easy so that you can start saving money with very little effort.