Looking forward to my first pay check in a few weeks, since it's only part time it wont be very big but it was only intended for spending money.
What % of a person's paycheck should be put into a savings account and why?
Rob
Favorite Answer
smart folks put atleast 10% of gross.
poor folks won't, don't for various reason.
your job will not be forever.
u will need money for Thin times
Curious
First pay all your bills, then pay all your debts. Then have a cash cushion of maybe 6 months living expenses. After that is done you can probably put 100% of what is left into long term investments. You have to think this out yourself. Just keep in mind the tried and true saying " a fool and his money are soon parted." Please don't be a fool.
Anonymous
i put 100%