Are sinking funds considered savings? For example, the 50/30/20 “rule” asks you to put aside 20% of your take home into savings. My monthly budget is based on two paychecks which comes out to about $4000 after tax, and every month I deposit about $800 into my Ally savings account, of which half goes into a bucket for emergency savings, while the other half are distributed between my…

Am I doing retirement and savings wrong? I’m 29, married, and trying to make sure I’m not massively missing anything important on retirement or saving. I’m in my state’s teacher retirement system (Alabama) which takes out 6%ish each paycheck. Wife is also a teacher in the system. Pension info says it takes the average of the last three years of salary and has a 1.65% multiplier. I also…

Now what? 20k in savings no debt. Hello all, I’m 30 year old male, 1 child, one on the way, and wife. Together my wife and I have 20k in savings, all 3 cars are paid off. Our bills come out to roughly 1400$ a month our mortgage is only 415$ a month, bought a little 2 bedroom house in 2019. Once baby is here our income will drop down to 4000$ a month, we live a very frugal lifest…

How much money should I have in savings I recall seeing a plan somewhere that stated you should get to $1000 in savings, next step pay off credit card debt. Would this still be true today with inflation? Would factors like family size l, expenses and income change that number? submitted by /u/sizable_data

Where do I even begin with savings? Hi all! I (26f) have been overcoming shopping addiction and I think what’s been helping is actually have a goal to look forward to!however, everything is kind of thrown in my bank account and I don’t really have it separated which I think needs to happen. I have three accounts. One for checking (1,400 in there right now) a saving account for my …

I don’t know what to do with my deployment savings Im about to come back from a deployment in the next few weeks and i have managed to save a bit over 30K USD. I have 0 debt from credit cards and personal loans, my only debt is my car note which i owe 14k on. I was hoping to use it to purchase a home ” i’m aware of the VA loan 0% down, but i think it’s not a solid option at the moment given inte…

Unbiased opinions on savings – where can I improve 26 years old: 78k usd salary Take home: $3750/mo (26 check/yr) 8% post tax contribution to Roth 401 ($460/month employee) +5% employer ($290/month) = 9k/yr College loans paid off +13k Roth IRA +9k taxable investment Monthly expenses: $2555 Car- 375/mo (21 months/2.85%)) 110 insurance 120 gas 12 Spotify 100 beer 300 food 1500 rent + utilit…

Is it worth using my savings to pay off a CC? For context I have a CC with a balance of $1,700 and ~$3,900 is my savings. I am worried about actually pulling anything out if savings but hate the CC interest. submitted by /u/MrCoolHandLukie

What to do with 50k in savings? I joined the military at a young age and I never really got caught up in the partying or drinking phase so I was able to save up during my time in. I put about 15k into vanguard 4 years ago after getting advice that keeping it sitting in my savings account wasn’t gonna do me any good. I’m currently in my late 20’s and out the military (transitio…

Scared to put off debt with savings. I’ll cut right to the chase. I listen to a lot of Ramsey to get the motivation to pay of my debts today, which I have been hammering at. But terrified of dumping a lot of my savings into this credit card. I have $2600 in savings $1050 in credit card debt I make 80k/year gross I know I make good money for the situation I’m in. But seeing that m…

US Households Are Running Out Of Savings There are more signs that US households are running out of savings. According to a survey from the FRBNY, the average likelihood of a credit applicant needing 2000$ within the next month rose, reaching the highest level since February 2021. At the opposite, the average likelihood of a credit applicant coming with 2000$ within the next month drop…

Whats a good savings amount to start your own store? Wanted to get into e-commerce but haven’t decided on when to start. I’m not sure how much I needed up front to begin the process? submitted by /u/TheChosenCasanova

Grad School on a Shoestring: How to Strategize with my Savings? Hi everyone, big thanks to this sub for providing fantastic advice that gave me the confidence to make more decisive moves with my money. I’m now a little older, starting graduate school at the age of 27. I’ve left work to accommodate a full-time student schedule and a 16 hour/week (unpaid LOL) internship. I plan to work a chill service industr…

Cash in US Savings Bond, from UK Hello from the UK. My dad just found savings bonds of $50 for each of me and my siblings at the back of the cupboard. They were given to us by an American uncle when we were born, and are approx 31-35 years old. They total €50 each, in each siblings name AND my uncles name. They are Series EE. They state that the interest ceases 30 years from i…