Financial Literacy
|
You Can Save the Smart Way, Saving $35 Every Month
If savings behavior isn’t changing, consumer attitudes may be. A recent Gallup poll found 62 percent of Americans say they enjoy saving more than spending, while 35 percent reported the reverse. Back in 2006, respondents were split about 50-50 on the question. Moreover, 57 percent say they are spending less money in recent months than they used to, up from 50 percent last July. Among the newly frugal, 38 percent say this spending pattern is the “new normal”, while 19 percent say the budget cuts are temporary.The poll didn't examine how people are saving, but the latte-by-latte route is being challenged by some. “If you look at the things you spend the most money on, that’s where you can save the most money”, says Elisabeth Leamy, author of the new book “Save Big” and a “Good Morning America” consumer correspondent.
This chart shows you how much you need to save PER YEAR, PER MONTH, PER WEEK and PER DAY
to save 1 YEAR of your annual salary within 7 YEARS. Together we can make a difference.
How Much Should You Save?
| SALARY | PER YEAR | PER MONTH | PER WEEK | PER DAY |
| $5,000 | $714 | $60 | $14 | $1.96 |
| $10,000 | $1,429 | $119 | $27 | $3.91 |
| $15,000 | $2,143 | $179 | $41 | $5.87 |
| $20,000 | $2,857 | $238 | $55 | $7.83 |
| $25,000 | $3,571 | $298 | $69 | $9.78 |
| $30,000 | $4,286 | $357 | $82 | $11.74 |
| $35,000 | $5,000 | $417 | $96 | $13.70 |
| $40,000 | $5,714 | $476 | $110 | $15.66 |
| $45,000 | $6,429 | $536 | $124 | $17.61 |
| $50,000 | $7,143 | $595 | $137 | $19.57 |
| $55,000 | $7,857 | $655 | $151 | $21.53 |
| $60,000 | $8,571 | $714 | $165 | $23.48 |
| $65,000 | $9,286 | $774 | $179 | $25.44 |
| $70,000 | $10,000 | $833 | $192 | $27.90 |
| $75,000 | $10,714 | $893 | $206 | $29.35 |
| $80,000 | $11,429 | $952 | $220 | $31.31 |
| $85,000 | $12,143 | $1,012 | $234 | $33.27 |
| $90,000 | $12,857 | $1,071 | $247 | $35.23 |
| $95,000 | $13,571 | $1,131 | $261 | $37.18 |
| $100,000 | $14,286 | $1,190 | $275 | $39.14 |
| $125,000 | $17,857 | $1,488 | $343 | $48.92 |
| $150,000 | $21,429 | $1,786 | $412 | $58.71 |
| $200,000 | $28,571 | $2,381 | $549 | $78.28 |
| $250,000 | $35,714 | $2,976 | $687 | $97.85 |
| $300,000 | $42,857 | $3,571 | $824 | $117.42 |
| $350,000 | $50,000 | $4,167 | $962 | $136.99 |
Why Don't More Financial Advisors Look Like Lazetta Braxton"? - How to Address the Industry's Race Problem More black families are entering the economic mainstream, have more income and are saving for college and retirement.... They need advice and [the financial services industry] is passing up millions of dollars by not reaching out to them. -Rev. Anthony Evans
How to Find
a Job in a Recession
See tips from the experts.
Job Search
Roundup
Tips for a successful
job search
