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      07-24-2012, 05:09 PM   #25
Q4P
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Quote:
Originally Posted by kyleb350
Quote:
Originally Posted by Q4P View Post
Saving 10% of what you earn is weak... I understand certain situations dont allow people to save more but 20% should be a standard rule. Put it to you this way... I save 42% of what I earn monthly but I am pretty sure I am an exception to the rules when it comes to money management.
Saving almost half of what your earn is impossible for most people with a mortgage and especially family. I should back up and say that there are obviously many variables involved into what you can save.

Personally, I am single, have a mortgage, and put 10% into my retirement account and 10% into a savings account. I find if you set up auto transfers, it forces you to live on a budget that much less.
Is it possible that people buy items that are too expensive for them? This includes housing and so forth. The avergage American family savings account has $3500 in it.... I couldn't sleep at night if I had a family and only had that amount of cash on tap, I had more as a poor student in college. Something along the way is clearly wrong...
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