facebookI already have my emergency funds settled. Should i continue saving aggressively? How much % of my salary should i set aside for savings/investments/insurance etc. - Seedly

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Anonymous

28 Apr 2023

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Adulting

I already have my emergency funds settled. Should i continue saving aggressively? How much % of my salary should i set aside for savings/investments/insurance etc.

I have basic insurance and some investments too just thinking how else can optimise my salary. No dependents

Discussion (12)

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Cryotosensei

10 May 2023

Blogger at diaperfinancingfund.blogspot.com

I make a distinction between emergency funds and rainy day funds. The first means dire situations that shock my system and blow me off my feet while the latter refers to less-urgent situations that require me to buy stuff (like digital locks, dishwasher, robotic cleaner - you get the idea). So i do keep on saving to have another war chest dedicated to rainy day funds lar

Choose good quality dividend stocks if you want to be a conservative investor.

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But if you want lower risk, FDs and highyield savings accs are quite good right now for 3-5% yield

If I were you, consider your short term liabilities. If need be, do save up more. But if you do not have that much short term liabilities, always better to invest a higher percentage.

I would highly say it’s highly dependent on your income and your spending habits. I usually allocate about 30% to my savings and investments, and would save any leftover amount as well. Then about 50% would go to all my other spendings including food, entertainment, transportation, parents, utility bills. Insurance takes about 10%, and the rest and any leftovers goes to my travel plans. Here are some tips on how you can go about planning your own budget.

Congrats on getting your emergency fund settled. It must have taken a lot of conscious effort and sa...

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