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How Many of You Save Money?


I’m more curious than anything. There’s the occasional narrative that people these days don’t or are unable to save any money. (I generally don’t believe anyone is incapable of saving something)

So I was curious to know how many people here save? Do you, don’t you? why, how, etc.

  • I save
  • I don’t save

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I live at my parents, which allows me to save up more than half my pay check each month until I can buy a house, at least that is my current plan



You can’t save money if you don’t spend money on an investment.



I save money because I don’t want to bear the opportunity cost of possibly needing that money later and not having it.



What if you can invest on people who are working in a trade. And you can help invest into their trade and position. And the tradesman can get you a return on your investment.

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money invested isn’t a liquid asset. Not very useful if shit hits the fan
ie some thot on her phone totals your car




Because I don’t want to be screwed in the event that I need money. Plus finding a SO might be easier with having money saved away then without.

By not spending money on things that aren’t necessary. Putting money in a CD.

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What do you mean by SO and CD



If shit hits the fan. Money won’t matter.



When my furnace dies, I’d like to have the money in my emergency fund to replace it…
If I become unemployed, I’d rather that I could afford to pay my bills than not.

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Significant other

CD stands for certificate of deposit



Game on an APU
Shop at Walmart
Have DSL
Drive a Versa
Don’t live in New York or CA



Lots of people I work with make fine salaries, well north of $100k, but spend everything. If they missed two paychecks in a row they’d be evicted. Money is extremely easy to spend!

I contribute the max amount to my 401k, which is matched by my employer, and whenever my checking gets over a certain threshold I move it to a Vanguard index fund with an expense ratio of 0.11% and leave it there. I also keep two full months of expenses liquid in the money market for emergencies.



Ah it does depend on how liquid it needs to be though.

Generally your money invested is better spent than money not. Though its useful to keep a cash reserve.

Personally (and im not sure i would suggest this) i have a credit card i can dump emergency expenses on and pay off when cash has come out of where i store them.

:smile: This is probably more true than we want to believe.

retirement/pension account?
We have a different system but similar contribution method in the UK I believe. I have a reasonably decent employer contribution which is right on target of the “half your age” general thought for contributing to retirement.

It’s one thing I think everyone should be doing, its free money from your employer and there are very few reasons not to do so.

The rest of my money that i try to save generally goes into a S&S ISA right now into one fund, and once last years is transferred into another type of fund or EFT.

I have a few shares as well, i look to be on track to make a whopping £80-100 in dividends this year :smile: Im happy, its money i didn’t previously have that i can use for my future.

Someone in my work does this… They have no money but are well paid.

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Yep, I save money. No credit debt, have cash on hand. But I have a feeling it won’t help. Sooner or later the government is going to come in and start taxing savings. The tide is turning towards student loan forgiveness, it is only a small step towards credit card forgiveness. Soon it will be a foolish move to save money. You won’t have any of the things, and you will have to pay out for the things other people bought.

I don’t make a lot of money, but I can survive 6 months without a paycheck, at the current rate of expenditure. Longer if I don’t buy computer equipment. Plus I have credit cards and other investments that can be liquidated, some faster than others. But I live frugally.



Relying on a high interest rate credit card for emergencies is traditionally how people get stuck in a hole. Keeping a credit card balance should be your last resort, if everything else fails.

Yes, the 401k is a retirement account here in the US. We pay into it with pre-tax money and if we take the money out after age 65, we pay very low taxes taking it out. Many employers also match the first X% of your salary you contribute, making it an outrageously good deal.

Speculating in the market is straight-up gambling. Don’t buy individual stocks as an investment, buy unmanaged index funds with the lowest expense ratio possible.



$500 a month as of March actually… For stuff I’ll need in college



I thought the US had tax free accounts?

In the UK gains on savings are taxed above a certain amount (like £2k or something around there), but we have a tax free wrapper called an ISA which protects gains from tax. These can be used on stock and shares accounts, savings, etc. but have a total £20k cap on deposits per year.

Anything outside these wrappers are subject to capital gains tax, so for example if my shares ever made more than £2000 on dividends id pay tax (7.5% at the basic rate). Im sure this is similar in the US?

Gains on the shares themselves are also subject to tax if you ever sell the shares.



Yes, we also pay capital gains taxes, but that’s only if you sell. As long as I don’t sell any of my funds, I don’t pay anything.

Also capital gains taxes are much lower than income taxes here. It’s the best way to make money, but of course you have to have money to make money in the market. It’s one of the most marked demarcations between the poor and wealthy in the US.

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I pay off in full, and never keep money on a card that would gain interest charges. And i wouldn’t for example put 10k on a card in an emergency knowing i didn’t have 10k already to pay it off. But I absolutely agree, if you’re clear and careful with its use its a hole you can get yourself into. I wouldn’t really recommend it.