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How Much of Your Paycheck Should You Save? (With Data)

Humphrey Yang 715 views

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The graph at 12:50 - we messed up the order of the dates, but the data is correct - the dates should go from left to right 1989 to 2019 Also how much do you save? Lmk below
Comment from : @humphrey

You don't need to learn how to manage money if you know how to enjoy life without spending it
Comment from : @immatricule6900

@13:00 what is this timeline?
Comment from : @agrubbs7496

20 goes to my retirement funds (mandated by local government)br40 goes to savings br20 goes to my parents (filial piety)brAnd the last 20 goes to spendings Unnecessary things like travel and luxuries are also in this sectionbrbrI’m single and living with my parents, so it’s easy for me to not spend too much
Comment from : @damnfreakingsien

Since we talking about how much we should save from our paycheck, that wouldnt include any 401k savings, correct?
Comment from : @RadioActiveRyan62

I lost like 500k in my 30s so had to start all over It stings to think about cause I should be retired by now but life lessons haha
Comment from : @MasterEggroll

Currently saving 20 a check Comes to about 18k a year I saved cash
Comment from : @charlescatt4607

If someone was promising 20 roi, I'd take it with a grain of salt That typically means it's high risk
Comment from : @nightknightlegion1273

I'm able to save 14 of my salary with a 20$/hour salary
Comment from : @valeriebrousseau1053

Thanks to the women in my home, I get to save every dollar I make
Comment from : @doonie5396

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing below the $100k mark and in the first 2 months, my portfolio was reading $234,800 Crazy right!, I decided to reinvest a huge percentage of my profit and it got more interesting! For over a year we have been working together making consistent profit just bought my second home at the beginning of summer
Comment from : @JakeSullivan-h2i

oh ya defiantly drink before you go out, you drive better
Comment from : @dragoncreeper1207

I bundle my savings into the fixed expenses tab That way My budget will always cover it It's omitted from the 3mo emergency fund total though of course 6:20
Comment from : @DanRobards

1k Month on food is normal now my girlfriend was saying I’m wasting money on 5$ meals from McDonald’s But we went to Walmart and it was 90 for a meal
Comment from : @jeremybeaverson7167

Your videos are so informational! Your voice also reminds me of a cartoon character but I can't quite put my finger on who
Comment from : @SamanthaMorenox

im at roughly 20
Comment from : @myerwerl

I make more than 60k and my take home pay is less
Comment from : @skeetajohnson

That savings is why we had inflation People had more money and wanted to hyper buy while also being limited to what they could buy Leading people to over pay to get good now vs later while depleting supply This is what caused inflation to sky rocket
Comment from : @Themooman29

I have $80,000 in the money market that I want to move into stocks, but I’m scared of buying at the top Any suggestions?
Comment from : @AlbertGReene-p8w

I'm 23 Worked full time during highschool and 80 hours a week age 18 to 23 Now have enough for a house 0 mortgage
Comment from : @person-ie1fe

I wanna know how in the ever living fuck someone spends $600 a month on eating out????
Comment from : @Noxlion28

When you say put away money, is that included in 401K, Roth IRA, & Savings? Or just specifically savings
Comment from : @adrianmendez98

I sometimes wonder how successful investors manage to accumulate enormous wealth from their investment endeavours because I am an avid investor I currently have equity from a recent house sale that exceeds $545K, but I'm not sure what to do with my money next Is now the right moment to buy stocks, or should I wait for a better opportunity?
Comment from : @KennedyVerbruggen

I don´t know anything about afterpay, but there is no extra charge if you use buy now pay later with klarna (in sweden) do you have to pay extra for that in the US or is it if you don´t pay in time?
Comment from : @dennislindberg2589

I save up money each paycheck for things like vacation, taxes due at end of year I assume that’s not savings
Comment from : @dsalmeron

Please write a book😊
Comment from : @JohnFord-c5l

Add some children to the mix of expenses, like childcare for working parents We pay close to 2x our mortgage just for childcare and as a couple that makes more than the average couple, it’s still not easy Especially if you want to try to save for your kids which should be a priority Not sure if have kids, but we planned for ours and it’s not cheap in these days I love your videos and find them very helpful as a homeowner looking to do more
Comment from : @johnp1916

Hey this is super awesome information for single people! I'd love to see a family of four with each parent making about 60K
Comment from : @valerieproctor517

It’s really easy to save 10 but I struggle above 15
Comment from : @oiloil7083

Dude you is a huge help you really help me understand money I’m already saving 20
Comment from : @Omilloadams

Thanks, Master, for teaching, you are the Best
Comment from : @johncali9

I save a minimum of 40 as a 30 year old I've been doing this for about 5 years Now I have no debt & a 180k net worth
Comment from : @rauliciii

That's insane No excuse if you make over $120k not to save at least 20
Comment from : @donh8833

Living paycheck to paycheck due to lifestyle creep shouldnt count
Comment from : @enterthenameyo

I’m 23, just graduated with BME, working as a project engineer I make 65k, (but hourly so I work tons of OT) and working enough to be able to save 1500$ biweekly, while still living within my means Fulfilling my wants and needs brbrI’ve paid off 15000$ of student loans, and have less than 10k left of debt, I’ll be all paid off by October The best thing I did for myself was discover that everything I consume for media and entertainment turned into finances and health and I’m acting in my goals every day
Comment from : @stainsonmycouch3655

Making 5k a month and trying to save 80 of paycheck for mortgage 😂
Comment from : @chuxuans4685

I make 52k and save 23
Comment from : @BirdLisa

Thanks for all of the content!
Comment from : @ItzTheThrill

We save about 40 of are income but would like to get that up to 50 and 55 would be great but 15 is are house payment
Comment from : @iwantosavemoney

The thing is, if everyone was smart with money, our economy would be terrible
Comment from : @ZachBrown-n7t

The utilities cost in your example blew my mind My utilities on a very modest home (<1000 square ft) are easily double that, and I am quite frugal with electricity, heat & AC…and now I know that residents of my state pay among the highest utilities in the country, despite also having one of the lowest median income levels sadly😭
Comment from : @obietravels652

Nice!
Comment from : @Joeyxyx

so funny how everyone in here says they save 80 lol, i doubt even 20 of you are actually saving well
Comment from : @stignatius1625

18 20grand saved should have 60 saved next year
Comment from : @vroomonster7332

Higher income sometimes correlates with living in higher cost of living areas, eg Bay Area, NYC, etc Also, couples that have higher “household income” could have kids which increases their fixed costs 🤷🏻‍♀️
Comment from : @sdl2320

When income is listed in research studies is it individual income or household income?
Comment from : @nebbie

My first job out of college, I made $60k and saved 50 of my net income… Now that I make $100k, it’s still only 50 Lifestyle inflation is real, but honestly, it’s worth the nicer quality of living
Comment from : @dannymartial7997

What program do you use to animate these graphs? cause those are already existing on the internet, but how do you do that?
Comment from : @WealthCreationStationYT

This should be taught in high - just show this episode as a lesson
Comment from : @Naut1188

19 and saved 2k so far I know it’s not much but it’s a start…
Comment from : @MaxVerstappen13389

I am 38 and i am in those 90 😅😅😅
Comment from : @PoonamSnoobi

Does this saving including 401k saving or straightly for saving from take home inckme
Comment from : @alexisalex3980

I’m 21 and have 2200 debt and like 500 saved 😂😂 my debt was like 9000 but I cashed in my retirement to get it down
Comment from : @willgarrison5075

Post covid the economy is also horrible which is probably contributing to savings being at such a low We NEED to spend it all just to get by
Comment from : @vjrap

19 saved $96k 😢
Comment from : @OMGitsJesusHChrist

Currently 30, making 200k a year and save 5K a month
Comment from : @astrahl

Humphrey please don’t stop making videos you are very knowledgeable and skilled at breaking down finances in layman’s terms I pray that God blesses you and your family for the hard work you put in! THANK YOUUUU ❤
Comment from : @zakiyaraphael7192

I spend $500 a week on dinner dates That's an absolute necessity I am maxed out my 401K pay in I am putting $4k every month into a savings So I am taking my own lunch and don't go to Starbucks Yeah, I am a 50 tennis player I never thought about teaching anyone but my kids Maybe I can go on more dinner date, if I had extra cash
Comment from : @singlefather01

Paid off 30k, 10k into stock market, just 21😎
Comment from : @DeepRajpalCa

Wait did I just hear him say “rent doesn’t exponentially increase”
Comment from : @cobibissell1806

My dad was making 220k a year but was homeless living paycheck to paycheck because of his severe debt and terrible credit preventing him from renting an apartment or purchasing a car at all His debt was forgiven by Biden (🥴) and now he’s making 90k a year without any debt and very few bills
Comment from : @Odo-Lee

Thank you so $$!
Comment from : @DanBelsky_Health_Money_Love

Are you referencing savings as a of gross pay or pay after tax has been taken in to account?
Comment from : @Riaan3108

I save AROUND £1000 a month at 37, earning 42k a year Not always though Sometimes 600, sometimes 1100 But on average around 40 How? No kids, not married, I live 20 mins from work but obviously WFH, my mortgage is 720 but while renting I was spending 625 for a double room all bills included I didn't make stupid decisions like have a kid, buy a car on finance (dear god, NEVER would I do this), I only buy what I can afford, I don't load up credit cards unless I'm abusing a 0 card over 2 years, even earning 2600 a month I use Aldi to keep food prices down, I only spend around £10 on takeaways twice a month, I don't pay for Netflix or Spotify and alike (but still use them, because screw these greedy companies, sail the seas, it's so easy) etc etc
Comment from : @Dynasty1818

That savings rate is pre-tax or post-tax? lol
Comment from : @social3ngin33rin

Got a pretty decent amount of savings inside my Whole Life policy right now Let's go! 💪
Comment from : @multimeter2859

95
Comment from : @erich84502ify

I've been at the same job for 18 years that does not have a 401k Unfortunately until recently i have been not thinking about savings 😢 all those wasted years
Comment from : @alexascartier617

Utilities only $125??
Comment from : @jaked-xt4ox

I am 23 and start working at 15 I now have 150 000€ in stocks o/
Comment from : @toutounnis

23 years old and save up $7,600,000 so far
Comment from : @JackBadinga-wp2ei

Im at 10-15 depending on the month Im happy to be able to afford a surprise, unlike some people out there
Comment from : @Chet_24

Stimulus checks People with stable jobs saved their stimulus check
Comment from : @rebeccastolberg2148

Considering i still live with my parents i save about 40-50 of my income
Comment from : @stockpistol

I’d love to save 30 , gotta get over student loans first
Comment from : @thomastaylorr6033

A part time job really makes a big difference! I work about 14 hours a week in a deli & it's been a big help After 3 years I'd like to quit but afraid to
Comment from : @gopherb3985

Doordash and Uber eats should not exist for anyone
Comment from : @DStabs720

$600 eating out each month on $60k sounds like my friends They have nothing saved so don’t do that!
Comment from : @DStabs720

Kinda sick of all of these videos honestly Bottom line is people dont get paid enough and shit is too expensive Its that simple! No amount of pleasurable things that can be cut, food, vacations, recreational activities Ya know all the things you do with your family to make life worth living None of it will be able to explain why only the few elite get to enjoy their lives I say save a modest amount of course but dont sacrifice every pleasurable thing or second with your loved ones because you dont even know if youll be here tomorrow Hell ill work until i die at least i was able to do things Just shift to a job that an older person can do Theyre out there Live your lives!
Comment from : @blakebean4160

People were saving in the pandemic because they had no idea what the world would look like in a year
Comment from : @wheelzwheela

I hate the phrase “paycheck to paycheck” Unless you are a trust fund baby, if you have a job like the majority of people, we are all living paycheck to paycheck
Comment from : @amydearing9866

I’m a dividend investor My wife and I have invested in the s&p500, both through my TSP with the government, and through Fidelity in her 401-kCashed out 370k from the S&P and invested with a Full service broker Lisa Rosa Cavanagh Until around 3 years ago we were 100 in the s&p after over 25 yearsI'm retiring at the end of this month at 52, while my wife will retire next year at 49 We currently have 37 million in out tax deferred savings
Comment from : @LanceyRoche

You forgot phone bills , car insurance , internet, costs of kids if you have them credit cards
Comment from : @zoogey1

I share a house with my sister and her family and we split the bills and expenses I've been putting away 400 dollars a month lately
Comment from : @brianban110

I started recently watching similar videos and I’ve realized that I’m a saving genius I, my wife with 2 little kids in our mid 30s save in a good month around 5k a month In a bad month (when we pay more services, travel, dentist, etc) we save around 2k net
Comment from : @warispeace-freedomisslaver7570

Go to make deposit set up 50 for savings 20 on investment account and 30 for just life
Comment from : @uselessthinker6945

No human being in America has a 1,500 per month rent and only 125 in utilities This does not exist
Comment from : @shunpo9

so how do you become one of these loan companies so you can collect other's interest rates as passive income?
Comment from : @andrewliang5401

27saved 26k so far
Comment from : @JLN27

I spend only about $400 a month on coffee A bag or can of house brand coffee at HEB is about $400 and lasts about a month, plus when I make coffee, I pour two mug fulls before the coffee maker is done and pour that much more water into the reservoir and that stretches how long my coffee lasts before making another potbrI don't buy alcohol at restaurants That can cost more than the mealbrI buy mostly house brands at HEB and use their debit card to save an additional 5 on house brand purchases and use cash back apps like Upside for gas, and Receipt Hog, Receipt Pal and Ibotta for grocery purchases I often put that into my Amazon accountbrI look for sales on clothing at Walmart and Target or go to thrift stores like Goodwill and Salvation Army
Comment from : @johntracy72