View Poll Results: Do you save money?

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  • I save money

    55 80.88%
  • I don't save money

    13 19.12%
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Thread: Do you have money saved?

  1. #1
    User 3step's Avatar
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    Do you have money saved?

    According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?

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    Re: Do you have money saved?

    Quote Originally Posted by 3step View Post
    According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?
    Insane overtime. That's what I do, and it works. I'm usualy on overtime by Wednesday morning.

  3. #3
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    Re: Do you have money saved?

    If you have high equity in your home, you have emergency savings. Home equity loans are a great source for emergency savings, as long as the emergency isn't a fancy car, a boat, or any other large purchase of something you don't need.
    Oracle of Utah
    Truth rings hollow in empty heads.

  4. #4
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    Re: Do you have money saved?

    i'm old and there's no need for me to save any longer.... but yes, I've saved all my life... it's part of my whole "provident living" thing

  5. #5
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    Re: Do you have money saved?

    I have some stocks that can be cashed in in a matter of 4 business days and wired into my account; I have close to 60% equity in my house (thanks to a fantastic deal on a foreclosed property even as far as foreclosed property goes); I get an annuity check every month that covers the mortgage; and two rent checks every month that covers most of the other household recurrent expenses like utilities/telephone/internet. I do have a saving account with about $1K in it and I pool money into my business accounts until the end of the year because my income is rather seasonal with those. I do not subscribe to the philosophy that people should have a lot of cash on hand though because that is wasted money given today's interest environment. Money should be invested, not saved, unless you want to be a wage slave all your life.
    If I blow the conch and they don't come back; then we've had it. We shan't keep the fire going. We'll be like animals. We'll never be rescued.

  6. #6
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    Re: Do you have money saved?

    I keep one year of salary saved in the bank, and put 11% in 401(k). Always save for a rainy day, because they happen. Have more than 50% of house paid off and am paying it off about 20 yeas early. I hate debt.
    "Those who do not remember the past are condemned to repeat it." George Santayana

  7. #7
    A grand violation

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    Re: Do you have money saved?

    Yes, I have a couple years of rainy day funds saved up. Retirement's another matter, and I'm saving money far too slowly for that. It's a little concerning.
    Last edited by Cardinal; 03-31-15 at 11:20 AM.

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    Re: Do you have money saved?

    Yes.

    IRAs, 401(k)s, savings account, money market account, 529s for the boys.

    We save about 25% to 35% of household income depending on the month.

    We have about 6 months income available at the moment.

    We burned through about 6 months worth over the past year as my wife lost her job once due to downsizing and once due to her employer going Chapter 11 and my being on disability at 70% salary for 2 months following back surgery.

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    Re: Do you have money saved?

    My dad's been saving for my retirement all his life. Should be inheriting that soon.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: Do you have money saved?

    Quote Originally Posted by Jerry View Post
    Insane overtime. That's what I do, and it works. I'm usualy on overtime by Wednesday morning.
    So you put in 20 hr days?

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