Do you put some money into a savings account on a regular basis?
Only up to 12%.
I am very expensive.
No. At .1% interest it's not even worth my time to transfer it from my checking into my savings.
Kind of. I only have a checking account at the bank but I put money into my IRA regularly.
One weekly paycheck a month goes into savings and stocks.
If you mean a 401K then the answer is yes. If you mean a savings account at a bank, hell no.
I keep planning to but I keep putting it off.
Not right now i will start doing that next year sometime when i get out of school
40% each paycheck
If a Roth IRA counts, yeah. But I wanted to open one just to dump my extra change in to save up for things. A vacation, an apartment etc.
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I have a 401k, Roth IRA plus I put some in savings.
IRA and some in my kids 529.
Yes! But I seem to take it out on a regular basis too😩
Used to every paycheck. Then I bought a business. Now, I'm just getting by. But, I think we'll get to the point where I can save again eventually, at least I hope so. :)
Every paycheck. My wife and I put away a good chunk of money away.
My Roth 401k = my savings account
With economic collapse in future along with possible dollar collapse, saving a fiat currency seems silly to me personally.
Property, weapons, materials, supplies. Those are what people should have saved. Money only provides what you need in this current system in place.
As all human history shows, every system comes to an end, often abruptly.
The end has already begun, you can see it everywhere you look.
Take the election for example, you can tell people at their ends with how things are being run today.
Don't think that $800,000 in your 401K is going to help you unless the world somehow magically stalls where it's at in progress.
Most people's minds are living inside the matrix/system. They don't understand that true reality is lurking behind it all.
Well I don't know how long the system will work so I invest in my 401k and bullets. My 401k has doubled since Glenn Beck said the system is going to collapse.
A savings account in a bank? (That pays ZERO interest). No
Into a wall safe? Yes!
How much does the wall safe pay?
Does a 401k count? If not then no.
I think it would count as a savings account.
Yeah. I have direct deposit, plus I occasionally deposit cash from my wallet if I build up an excessive amount.
Yeah most of my paycheck other than student loans, although I plan to start putting some into a Roth soon. Living at home right after college has some advantages, like not having to spend a dime on food, clothing, rent, utilities, etc.
You've graduated from college and your parents still buy your clothes?
No lol I just haven't bought any clothes in forever
Although the last clothes I got were on Christmas and they bought them so...
It's the largest bite out of my income after taxes.
Every single month
I'm in college so regularly take money OUT of a savings account
People want NOW, they are too stupid to think of the future.
No, we don't even have a savings account. We budget and track our money so our 'savings' is in our checking account. Having one account keeps things simple.
Unless you count Roth IRAs and such, we do use those types of account.
Of corse, got to feed the body for the muscle to grow. Same thing with a Roth that you feed to see the dividends grow.
My "savings" all go to reducing my student loans... I do set aside $150 a month for a down payment on a car I plan on buying next summer.
I would highly advise not going into even more debt to buy a car.
My car is still in good shape but on the verge of that age where it will nickel and dime you... I do up to the 401k match, I pay 30% more than my student loans payments require to pay off in 10 years... I think the 2017 or 2018 civic would be a good purchase at this point... If I get a promotion at work this year my income will bump up ~10-15k so I will be in pretty darn good shape.
Why not pay the unsecured debt off in two to four years and pay cash for a six or seven year old Civic instead?
Because I have an 8 year old civic with 110,000 miles... By the time I get a new civic it'll be 9 with 130,000... Then I don't have to worry about transmission trouble...
Oh, I'd keep that thing for at least five more years or 70,000 miles if I was in debt, particularly unsecured debt. If I was uncomfortable doing that, I certainly wouldn't buy another one, or any other product from that manufacturer.
PeppyHare: Seriously man, you DO NOT need to buy a new car. Your car is low mileage. Take my advice, please, I'm a mechanic. Change the tranny fluid now as preventive maintenance if you are worried about the tranny. Drive that car till you have 200-250K miles in it. You can make it last a lot longer than that if you want: a car wash once week through the Winter in northern climates & an oil change every 5K miles. Take your car to a good mechanic once a year for advice/preventive maintenance on what should be replaced. The money you spend on maintenance will not compare to the money you will spend on a new car. Before I knew anything about cars I bought a new 2009 Toyota Yaris. I paid over $22K for it before the loan was paid off at $270/month. So what if you spend $600 on new shocks every 60K miles? So what if you spend $400 on new coil packs & spark plugs every 150K miles? That $1000-$1,500 in maintenance every 3 years is a whole lot better than $3000/yr. for 6-7 years for a loan.
Banks are a huge scam
No. I'm Middle Class:
I voted no because I don't, although I do let the income from my investments and retirement account just ride and grow. My wife, who is still working full time, does still save a lot of her money in a traditional savings account.
Yes. I have it transferred automatically every pay period as soon as the deposit comes in so we don't even think about it as accessible income.
Props to you my fellow responsible conservative friend.
Yes. We have a weekly automatic transfer of money out of our checking account into savings. Always pay yourself first!
Not anymore, my husband gets bonuses so we save 90% of the bonus.
Yes, I put 8% in a 401k, and fully fund a Roth each year for retirement. Additionally I put aside money in to a savings account for shorter term goals.
Two different savings accounts and a deferred compensation money market savings plan twice a month, every month 💰😉
I used to, but I am currently living off my savings, so for now it's the other way around.
I try to throw $500 in one every month so its there come christmas or for an emergency.
Except when its time to renew my auto ins.
Then it goes to paying that off.
Well yeah. Every time money comes in.
I hope no one thinks social security counts
Haha, I would think that any being that unintelligent would lack the capacity to operate an electronic device.
Then do it
I'm trying. Believe me.
Do or do not. There is no try.
The day I quit trying, is the day I die.
Whoever doesn't needs to. I contribute 25% to my 401k each week and I have a Roth IRA. I also have a savings account.