We all know that we should be saving our money. However, one of the most asked questions is, “How much should I save from each paycheck?”
According to Money Under 30, people should be saving 20% of their income. It’s called the 50/30/20 Rule. It’s where you will spend 50% of your income on essentials (rent, utilities, food…ect), then you 30% of your pay check on discretionary things like going to the movies. 20% of your income should go to savings account.
The key is to start somewhere, and have an attainable goal, and put a plan in place to get there. So, until next time, keep stacking your coins!!