How Much Should I Save Each Month?

Figuring out how much to save each month depends on your goals—emergencies, retirement, large purchases, or financial independence. The right number is different for everyone, but there are proven guidelines to help you get started.

To test different savings scenarios, use our Savings Goal Calculator .

The 50/30/20 Rule

One popular budgeting rule allocates:

• 50% to needs
• 30% to wants
• 20% to savings

Under this rule, saving 20% of your income gives you a strong foundation for emergencies and future goals.

Emergency Fund Savings

Experts recommend saving **3–6 months of living expenses**. The exact amount depends on:

• Job stability
• Monthly expenses
• How many dependents you support
• Your health and lifestyle

If you aren't sure where to start, saving **$100–$300 per month** is enough to build real momentum.

Saving for Large Purchases

Whether you're saving for a house, car, wedding, or vacation, your monthly savings amount depends on:

• Your total goal amount
• Your expected timeline
• Whether you invest your savings or keep them in cash

Use the Savings Goal Calculator to determine how much you need to save monthly to reach any target.

Should You Save or Invest?

After building an emergency fund, investing may help your money grow much faster than saving alone.

Use our Investment Calculator to estimate how your contributions grow with compound interest.

How Much Should *You* Save?

Here’s a simple breakdown:

• Beginners: Start with $50–$150/month
• Stable income: Aim for 10–20% of your income
• Big goals: Increase savings or invest more aggressively
• High earners: Consider maxing retirement accounts

The best amount is one that is consistent and sustainable. Consistency matters more than perfection.

Try Different Scenarios

Use the Savings Goal Calculator to determine your monthly savings target.

Then see how investing changes your long-term results using the Investment Calculator .