What percent of someone's budget should be used for savings?

Question

I hear a lot of people say 10% but is it realistic to try and save 20%, or more? I realize that it depends on where you live, how much you make and a variety of other factors, but generally speaking, what percent could an average household budget for savings?

Answer 1

Trust me you can save more than you think.  I personally think 10% is too measly.  You should save up to 40%!  Think about cutting costs on doing things cheaper or stopping the bad habit on spending.  Think about what's not healthy for you that you can cut down on daily basis.  Do you smoke?  Do you drink alcohol or soda?  Or do you buy junk food inbetween meals?  Do you always buy name brand stuff.  Do you always buy girls dinner? Do you always take girls to expensive place? Do you buy expensive groceries? Do you always buy that expensive toilet paper when you can wipe with a newspaper? All these you can cut down on.

Answer 2

It really depends on alot of things.  

Answer 3

as much as you can.  10% minimum, try for 20% or even more...

Answer 4

10% is probably the most realistic with the way our economy is right now; however, I would shoot for as much as possible. Who knows what things will be like when we are old, or even if we will have our jobs in 5 years.