I am 24 this year and have been working for a year. I still have no savings and what amount should I start saving every month?

Set aside 20 percent as savings

I would recommend you to save at least 10% to 20% of your monthly salary to build up your emergency funds first, followed by funds for insurance and investment. Be focused and disciplined so that you could cut down all your unnecessary expenses to build up your savings.

For me, I feel that it's helpful to have a goal for saving - new laptop, future wedding expenses, etc. Once you are aware how much would it costs, then work backwards with a specific time frame to determine how much you will need to save a month.

I would think 20% of take home pay is a good start for ppl who just start working. And the challenging part is how to increase the 20% progressively to 50% (saving + investment).