Young and Not Sure How Much To Save? If you’re young, save 25% each month. That’s 25% of your gross pay, before taxes. You can count debt repayment as savings, and repaying student loans should be a priority. The rest of the money can go toward a down payment fund, emergency fund, and retirement savings.
Tip of the Week
Insurance Premium Increases Some people think insurance companies can’t raise prices in the middle of a year, but this depends on the contract. Make sure you lock in your rates for at least a year. Ask what factors can cause an insurer to increase your price, such as speeding tickets, accidents or a hit to your credit score.