Saving a percentage..

[jIM_Ohio]

The other thing is that if everyone started saving 10% of their gross income, most of the financial problems in this country would vanish. Compare that to the current situation where 60-some percent of Americans live paycheck to paycheck and the national savings rate is at or below zero.

While I don't personally consider 10% to be enough for our needs and goals, I think it would serve many people quite well.

If the goal is "to retire", 10% will get you there eventually.
If the goal is "to spend less than you earn", 10% will get you there now.

The issue is many people put a time on retirement- for example "retire at 65"- once the additional time constraint is put on, the 10% constraint will need to be modified or the expenses will need to be modified to make all constraints work.

[jeffmem]

I attempt to save 40% of whatever I earn. 50% of my salary goes to bills, 10% goes to build up the baby fund, we have not had a baby yet, but have already started saving. I will sometimes take out 10$-20% of the savings for things I need to buy, but not always. I will always try to at least save 20% no matter what. But usually I can save more than 20%.

[MaskedMarvel]

I try to save everything else. I pay my bills and the rest is in saving. When I need something essential I save up for it and I buy it cash.