Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

Questions tagged [savings]

a generic tag related to accumulating cash or bank deposit savings.

732 questions
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14 answers

Can saving/investing 15% of your income starting age 25, likely make you a millionaire?

I came across this article. It states, The plan calls for young people to put 15 percent of their salary into a savings account — whether it be an IRA, 401(k) or taxable account — starting at 25 years old, he wrote for Business Insider. By…
user4884
61
votes
6 answers

Good allowance savings plan?

I am about to begin receiving a weekly allowance from my dad. As I am not great at controlling my "buy buy buy now" impulses, could you guys help me put together a savings plan for my allowance, given that I want to save a lot, but not all, of my…
SushiCraft 99
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10 answers

Everyone says save at least 10% of your income. What counts as "saving"?

I made a financial planning spreadsheet a while back. Then, I realized that the money I'm saving has specific allocations. This much goes to the future car payment. This much goes to the new PC I'm building. This much goes to something else I'll be…
Zaenille
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7 answers

Did I save enough for my age? Am I falling behind and should be saving more or take some investment risks to earn more?

I am a 28 years old male, living in the US. Currently working full time with the salary of $84K per year. I also have a dependent wife(same age as mine), who is currently studying in a uni, graduating soon. We have a total of about $75K in…
user4815
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16
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8 answers

At what age should I start or stop saving money?

I am around 24. I've never saved money. I don't know when I should start or stop saving money. Is there an age where I should stop saving money? Is there an age when I should start saving money?
Pandiya Chendur
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14
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7 answers

How does one factor how much saving time is worth?

I recently was reading this comic from xkcd, and it got me thinking. How does one determine how much one's spare time is worth? It seems to me that in particular, a person on salary has a fixed income, and thus it's not like they could work for an…
PearsonArtPhoto
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5 answers

For Every $100 Saved and Properly Invested, You Make X Per Month

I remember hearing a figure somewhere that went something like this. . . "For every $100 bill you save and properly invest, you make X cents per month for the rest of your life. The trick is, saving and investing enough of those $100 bills to create…
Aww_Geez
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3
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1 answer

How to find the after-fee APY of a savings account?

A savings account (Mango) offers 6% APY but has a nonwaivable $3 monthly fee. This is my best shot determining what the account's after-fee APR is: If you have a $5,000 balance, this means that the APY drops to 5.44%. To find this: You’d earn…
nCardot
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3
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1 answer

How exactly do I determine my savings rate?

Surely it's not nearly as simple as (amount saved)/(take-home pay), since if I make pre-tax contributions to a 401(k) or HSA I pay less in taxes, and money I save in not being taxes is, well, money being saved. But it's not necessarily (amount…
Dang Khoa
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3
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2 answers

Automate Savings by Percentage on varying paychecks?

My boyfriend's paycheck varies every week because the hours he works depend on the volume of business. While usually around 40 hours, sometimes it is quite a bit less or quite a bit more. The financial advice I follow says pick a percentage and…
Jemmeh
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3
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3 answers

Software to roll up funds distributed across multiple bank accounts

I previously asked how to use Gnucash category structure for funds distributed across multiple bank accounts and am now thinking gnucash just can't do what I need, or even if it can maybe others can too, so lets ask the same thing without…
matt wilkie
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1 answer

How can I make my 100K in savings safe and possibly a bit more profitable?

Situation sketch: I'm nearly 30 years old, single, still living with my parents in Belgium and disabled (autism in case it's relevant). I have a job where I earn about 1750 EUR after taxes monthly. I pay a monthly stipend of about 300 EUR to my…
Nzall
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2
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2 answers

Why can't I withdraw the $57 in my account?

Friday, I noticed that there is still $57 remaining in my checking account after paying bills and withdrawing the cash I needed. I tried using it for food, but I'm unable to spend or withdraw the $57 and not sure why. I checked to see if it was a…
user22142
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2
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1 answer

Is there a US federal law that requires a 90 day waiting period to reopen a savings account once it is closed?

My bank was having "technical issues " and I was forced to close my savings account in order to access my funds. The bank told me that this was the only option that I had and that I would be able to reopen the account once they fixed their technical…
Michael Buxton
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2
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2 answers

Do simplified savings percentages change for single income families?

When it comes to saving money, the (simplified) advice I typically see for income is 20% savings / 50% necessities / 30% discretionary. Do these recommended percentages change for a family where only one adult works? (with a spouse and child)
Craig
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