What percentage of my income should I save? - Seedly
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Asked on 17 Apr 2019

What percentage of my income should I save?


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Ernest Yeam Wee Leong
Ernest Yeam Wee Leong
Level 7. Grand Master
Updated on 17 Apr 2019

Rather than look at what percentage of income to save, look at what you are spending first and is it possible for you to cut down on your spending.

if you want to save 50% of income but you have 60% of income into expenses, then it will not be possible to have 50% of income into savings

it will be good to start tracking your expenses and income for the next three months and then decide how you can increase your savings by cutting down on expenses.

using the seedly app will be a efficient tool to help you get the data you need

i personally use a excel spread sheet to track my income and expenses and the savings

with the data then you can know what is a realistic amount to save


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HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 9. God of Wisdom
Answered on 17 Apr 2019

In short, it should be:

Savings = 20%

Expenses = 50%

Investment = 30%

Find out more here:



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Bang Hong
Bang Hong
Level 6. Master
Answered on 17 Apr 2019

I throw my friends these ballpark numbers for reference, no basis, just numbers.

Level 1 - 20% of take home $

Level 2 - 30% of take home $

Level 3 - 40% of take home $

Level 4 - 50% of take home $

Level 5 - 51% or more.

Out of the % you saved from the take home $, you are free to allocate freely.

1) Giving allowance to parents are classified as expenses rather than savings, unless you belong to the group where parents will "give you back" when you get married group

2) Buying WL insurance doesn't includes in saving in my definition/context, but buying Endowment plan do account for savings.

3) Consistency is the key, if you can do it for 1 month, 3 months 6 months 1 year, always always increase , never decrease, once you decrease it means that either something "big" happened or it is due to your poor planning.


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