Poll: How much of your income are you able to put into savings? Thread poster: ProZ.com Staff
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This forum topic is for the discussion of the poll question "How much of your income are you able to put into savings?".
View the poll results »
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Muriel Vasconcellos (X) 
United States
Local time: 20:37
Spanish to English
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| I strive for 10% | Jan 11, 2020 |
I take out a little from every large payment and put it into savings.
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Samuel Murray
Netherlands
Local time: 05:37
Member (2006)
English to Afrikaans
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| Depends what you mean | Jan 11, 2020 |
ProZ.com Staff wrote:
How much of your income are you able to put into savings?
I suspect I would be "able to" put about 25% of my net income into savings if I were to decide to pinch pennies, but I don't. So, at the moment, I'm not really saving anything (I mean, I do save, but the money ends up getting used up in a 2-3 year cash flow cycle, so that's not really "saving", is it?).
[Edited at 2020-01-12 08:41 GMT]
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Tom in London
United Kingdom
Local time: 04:37
Member (2008)
Italian to English
ProZ.com Staff wrote:
This forum topic is for the discussion of the poll question "How much of your income are you able to put into savings?". View the poll results »
It depends on how much I make in any given month.
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| 10% on average | Jan 11, 2020 |
Some months a little more than 10% or none at all, depending on how much I receive each month. Though my children have left the nest many moons ago I'm always glad to help them whenever they need it and they do manage to eat my savings from time to time as bank of Mum is easily accessible, interest-free and charges-free…
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Kay Denney
France
Local time: 05:37
French to English
The house is paid for, only one child still in education, the other already earning more than me. I don't spend all that I earn, and I squirrel away what I don't spend. Probably a good half of my earnings. I'm comfy like this!
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Michael Harris
Germany
Local time: 05:37
Member (2006)
German to English
| Less than 10% | Jan 11, 2020 |
Kay Denney wrote:
The house is paid for, only one child still in education, the other already earning more than me. I don't spend all that I earn, and I squirrel away what I don't spend. Probably a good half of my earnings. I'm comfy like this!
In actual money.
We do pay off our flat every month and kay, I am going to be in your situation in about 5 years - looking forward to it☺
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When I made the change to full time freelancer, our spending habits were adjusted to our incomes as employees. We did not change our spending habits much since I started freelancing, so that a lot more money can go into savings now.
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DZiW (X)
Ukraine
English to Russian
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They taught that some 10% should go for maintenance/short-term expenses and about 33% for long-term savings, so I can easily save 50%-75%.
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| None of it, intentionally | Jan 11, 2020 |
I may be able to stash away more than half of what I earn, but I consider it the most inefficient use of money. I invest it into my own skills, into my business projects, into property, but none of it stays in the bank (except temporarily), nor goes into stocks, mutual funds or the like.
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[Edited at 2020-01-12 14:59 GMT]
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Anderson Jes
Nigeria
Local time: 05:37
English to French
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| My project determines everything | Jan 13, 2020 |
I invest 25 -50% because of the projects I want done.
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| I aim for 40% | Jan 13, 2020 |
And this is only to cover my taxes and all the money I'm sure the government wants me to pay during tax season. Better save too much than too little. I learned it the hard way. And if there is extra left after the government bleeds me, then I'll spoil myself.
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Mario Freitas
Brazil
Local time: 01:37
Member (2014)
English to Portuguese
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Until August, I had three kids and a wife in college.
Until December, three kids in college.
Right now, two kids in college.
I'm hoping this routine of working endlessly just to pay the bills will end this year. Two of my kids already have decent jobs and need no more allowances. And my wife has finally finished her major in Law, and is working her way into the market.
So, my expectation is that, by the end of the year, I'll be able to save at least 20% of my income.
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