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Discussion in 'Personal Finance' started by KiKi, Aug 8, 2018.
Is there a certain % I should be saving each month?
I think that really depends on your expenses, first calculate how much you have that you can invest and what you want to achieve.
What's your goals?
I believe, setting a goal in your life is very important. And I'm not sure how much is the average % of savings, mine is 30%.
Like the others said - it depends on your budget.
If you're barely making ends meet - you'd better start a side hustle or find a better paying job.
If you've never saved any cash - a good start would be 5-10% of what you make. Each month and every month.
Put them in a savings account. As you start making more - raise the %.
Once you get a big enough sum - invest it in something that will pay you dividends every single month.
Put those dividends aside and reinvest them.
And the wheel keeps on turning.
Make sure your money are making more money. That's the rule I'm trying to stick to.