Should I always try to save a minimum percentage of my income no matter how much I am making? If so, what is that percentage? Is it OK/expected to initially save less money?

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Posted by Michael Drougas (MONEY FORUMS: 4, Answers: 0)
Asked on April 29, 2016 10:00 pm
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You should always strive to live well below your income. How far below? Saving anything is better than saving nothing, even if you think it isn’t adding up to much. Ultimately, your goal is to put 15% of your income towards retirement, and another 10% or more towards saving for other things. If than is not feasible, aim for 10% total to start, and work your way up slowly, like with any raise you get, save it instead of spending it!

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: May 1, 2016 3:03 pm