Well that really depends on the savings goal you've set for yourself.

People save for various different reasons, examples which could be as simple as a new car or maybe a future investment for a childs college education.

So essentially the quantity to save will highly depend on the context in which the saving is being done.

by kabudu on 28 Jul, 2009

How much should one save every month?

Well, I guess it depends on how much financial means one has and how much the individual person is willing to hold back. Further, it is important to determine what targets an individual has set themselves e.g. what they want to save up for, maybe a yacht, a new car, a holiday or maybe put money aside for their child/children. It all depends what should be achieved with the money and it also is dependant on the income of the person. If someone has an income of 5000 pounds a month he or she can obviously save more money than someone who just earns 1500 pound. So, all I can say the question you put is a bit to general and I think you should have evaluated it a bit more than just posing it out of the blue because as I said it depends on the individual and the circumstance.

by Sparkle on 29 Jul, 2009