be it account, stocks or whatever. How much gets put away (percentage)?

0% you try being married and saving, hard work.

Savings? Hahahahahahaha!!!!

Whatever people do personally, it should be at least 10%. At least. I am talking about retirement savings.

Yes that is preferable but not very practical for most families these days. Especially those who have kids and have to pay Jewish day school tuition.

About 60% of my total earnings go to savings.

you can't say it like that. different families have different incomes and different expenses.




and you can't compare it like that. singles living at home should be able to put away much more than singles living on their own. not even talking about families.

Er, whatever. Saving should be an instilled behavior which is started when a person is single and continues into marriage. Kids mess things up but, it is very bad planning if a person does not save at all. If they really can't save anything for later in life then they shouldn't be having so many kids.

The person who started this thread was single she has no excuse and neither does shaina.

Your very lucky to be able to do that. After your 10% masser and if you save even 10 % after that, its alot for a family to take from the earnings.

Well I work full time and babysit several nights a week. My expenses include car insurance, occasional car repairs and upkeep costs, phone bill, and about $200 - $300 on things like clothes, shoes, makeup etc. When I go back to school I'm going to use some of the money I saved, but the habit I got into is a good one. It's a mentality you get into. Originally I was saving for a new car and now that I have the money I can't plunk it down. Not after all that work. I'll just stick with my not so great looking but reliable '94 Toyota Corolla and let that money help put me through grad school.

Not everyone has their life organized and budgeted to the dollar. Most people are not very good with making financial decisons and I'm sure you will say that most people should not be having kids. It's a fact of life, if everyone was good at keeping track of their finances there would be no Subprime crisis and all credit card companies would go out of business.

I thought you weren't allowed to have savings because then the insurance company of that lady in the MVA would be able to seize it...or has that been resolved?

Despite all of your weird opinions, you seem extremely grounded and responsible. Congratulations.

Thanks.

Brianna almost makes me want to move in with my parents.

Or move in with Brianna's parents.

How old are you and what are you currently doing?

I'm 27 and currently in front of a computer.

a/s/l?

Everyone has their own expenses. The only reason I can afford school is because I'm living at home.


Single doesn't mean expenseless. I believe we both paid our college tuition which answers where a substantial amount of income goes. However, if you say 10%, well I have that much saved but it feels like nothing. I figured people must put away more to have a decent amount put away.

Advantages:

Relatively nice room with bathroom
Two adorable cats who are also reliable alarm clocks
Mother who is a human cleaning machine
Laundry is done
Allowed to take fridge food
No rent
Parents don't care what you do, when you get home, whatever
Free internet

Disadvantages:

Gotta go somewhere else during shalosh regolim or go with the family
Sisters constantly jabber on the phone at all hours of the night
Nothing in the room is private - if it's there, imma's gonna find it
Mother who is a human cleaning machine
Narrow, creaky bed
Not enough room for books
Can't have people over

So far arbitration is scheduled for the 23rd which is delightful cuz it's been almost four years. However, there are ways around it.

that's exactly (together with different salaries) the reason why blank "what percent of your income you save" doesn't tell much. Bri saves 60% cause she basically has no major expenses but works full time. if she were to earn more, she would save 70%. while someone else is able to save only 5%.



1. your family never stays at home for yom tov seudos?
2. how is that a disadvantage?
3. why don't you buy yourself a better one? i don't think it'll make a major dent in your savings, would it?

What's going on with that?


19/f/NY

Slightly different story. Two more years till I finish my BA and then off to grad school for me. Living at home at 27 is pretty ridiculous in my opinion.

Car insurance at my age is a pretty major expense. But yes you are right. If I had to pay rent there is no way I could afford to save more than 5%.


1. We always go away for the shalosh regalim. Shavuos isn't a given but always for Pesach and Sukkos. It's a pain.
2. Which?
3. Because my room is too small. As far as getting a non creaky one, you have a point. But getting that thing out would be a pain.

Arbitration.

I should have two more semesters to finish my BA (including summer) but I changed my major (yet again!) and have to basically redo the whole thing (32 prereq credits and 110 more to graduate, but I may "have" my BA for my original major before then). Thankfully I don't need a masters in this feild.

Why waste money on rent when you can live home expense free?

A pittance. I only started making monthly savings deposits less than a year ago, and right now it's just $200 a month. It's not nearly enough but we're slowly easing into the habit.

About what if you don't mind my asking.


That's still a pain though.


Past 25 so you can have your own life and act like an adult.

Income?? Hahahahahah!!

Even $200 a month adds up. Tuition is a TON so yeah you may as well start. Oh and heads up: you should probably send in applications for schools now. It is incredibly hard to get little boys into school.


Who pays your rent?

My rent is $100 a month. I usually manage to scrounge it up....

I actually did work for almost a year straight so I have money left for the time being, and I do a poster/graffiti/driver job here or there for a few bucks... I could also live rent free but I prefer the stability and security of where I am now...

B"H I live quite comfortably without working like a dog, many people could if they really tried (but not in Brooklyn)

I am actually G-d willing starting a job soon, we'll see how it goes. It was too good an opportunity to pass up...

Currently 14%.

Try the incremental method. Start off with a small amount that you think you can manage (4%, 6%, whatever). Each quarter (or every six months) bump it up by 1%. The bite won't really hurt (especially if you use payroll deduction, such as with a 401(k)). I started with about 7 and slowly worked my way up to the 14% that I'm at now.

Of course, if your company has a 401(k), you should absolutely start with at the minimum necessary to get as much out of the match as you can. If you don't, you're leaving money on the table.

The Wolf

You're lucky that you can live at home to save $. When I lived with my parents, I also put whatever (miniscule) amount I earned into savings.


Lots of people move back home to save money if they are going back to school. It's a fact of life that it's hard to pay rent while in school.



What are you getting your BA in that you don't need a master's for?

If $200 is a pittance you must not be doing all that bad.


Driving over the wall on the highway of all crazy things.
Agreed. Thankfully one year wont be in the classroom though.

You can have your own life living rent free. I'm doing that right now. I do my own laundry though.

Hahahahahahahahah!!



PA. To be perfectly honest though, the program I am looking at has two locations, and one of them is going to combine masters with the BA, but it will still only be a 28 month course, so if I end up there I will have a masters.

just curious, how old are you? trying to get an idea of how old is still "acceptable" to live with parents. i know a guy who's 27, finished school and works full time, but lives with his parents, and definitely has his own life.
i think for a girl, up until 30 is still considered acceptable, no?

I'm 22. I think it's fine for kids to live with their parents so long as it is convenient for all involved. If at 25 your parents still insist on a curfew it's probably time to move out, but otherwise, I think it's fine to do what works best for you, even if others see it as strange. I know a 43 year old single woman who still lives with her mom. Her mom is widowed and why on earth should they each live alone? They love each other and would be lonely alone. Who are we trying to please exactly? Ourselves or society?

My brother just finished law school, passed the Bar and moved back home with the 'rents... They have plenty of room, don't bother him and he is working now during the day, so why stam pay for an apartment??

That's why they're called 'rents, because they are in lieu of paying rent....

I don't mean to insult her, but her being single and still living with her mother at 43 probably is not coincidental. It's when I hear stuff like that that it makes me remember why I shouldn't move back with my parents, even if it's just for a couple years to save money.

The being single came first, and I disagree that the two are related. She is very much loved by all who know her and people think of her and try to set her up. I don't think anyone looks down on her for living with her mom. I don't know how many dates she has, but I imagine it's a difficult age for her, because the men her age want younger so they can still have kids. I also know a 34 year old guy who is still living by his surrogate family and I know he gets plenty of dates. I really don't think the two are related at all.

That is very smart. Good for you. I'd suggest putting some of that into a retirement fund, if you aren't already. The difference between starting at 20 and 25 can be tremendous - hundreds of thoudands.


That is true, but just because it's difficult isn't an excuse. You are right that many people do not understand how to save. This should be an opportunity to educate them, not make excuses.

While that is true, I'm going to be starving through business school as it is and that degree is worth more than what I could put towards retirement. Most people don't know the full cost of college, taking into account what they could have made if they hadn't gone. I tend to work and go to college at the same time - it's what I've done in the past and what I intend on continuing to do - albeit cutting back to part time. Going into debt simply isn't worth it at this point.


Kids pick up money habits from their parents. If they see you balancing your checkbook, price comparison shopping at the store, saving for something, they will imitate you.

During the summer, we used to go to a pool where they sold expensive Italian Ices that my parents couldn't afford to buy for us every time we were there. So instead what they did was put a dime in a jar for each of us when we behaved nicely and when there were enough dimes for us all to get ices we got them the next time we went. It was the best money lesson I ever got.