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How much of your income should you be saving? Is there a specific percentage that you should follow?

I’m not sure. I always see this 50% number being thrown around. I’ve seen other random numbers thrown out about how much you should be saving. Today I wanted to look at this 50% figure and throw out my thoughts on it.

### Is it even possible to save 50% of your income?

This really depends on the obvious variables: how much you make vs how much you spend.

If you make very little money it’s going to be more difficult for you to save half of your income. Conversely, if you make a killing, you’ll have an easier time hitting your targets.

It is possible to save half of your income, you just need to be making some decent money to do so.

### What if you can’t save 50% of your income?

It’s not the end of the world if you can’t save 50% of your income. It really isn’t. You just save as much of your income as possible without dwelling on the actual percentage that it happens to be. It could be 10%, 20, or even 49. All that matters is that you’re saving some money, right?