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Originally Posted by Q4P
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.
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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.