So I have a question for everyone. The general rule of thumb is to save 20% of your gross income a month, right? I was thinking about how little that truly is in actual numbers for me. My take home after taxes, 401k deductions, medical deductions, etc. is ~$3200/month (I make ~$60k/year). Of that $3200 a month I put $800 straight into a savings account which is about 25% of my take home.
Even saving $800/month I wonder how I will ever be able to save up a 20% downpayment for a house. It just seems like so much money! I'm thinking about buying a 200-225k house in the future, so my 20% downpayment would be $45,000. If I saved for no other financial goal it would take me about 4.5 years to save for a downpayment. I know other people save for other goals like cars, vacations, college, etc. so that number just seems daunting to me.
Do most of you guys save more than 20% of your gross income a month or does it take seemingly forever to save up for the big things?
Even saving $800/month I wonder how I will ever be able to save up a 20% downpayment for a house. It just seems like so much money! I'm thinking about buying a 200-225k house in the future, so my 20% downpayment would be $45,000. If I saved for no other financial goal it would take me about 4.5 years to save for a downpayment. I know other people save for other goals like cars, vacations, college, etc. so that number just seems daunting to me.

Do most of you guys save more than 20% of your gross income a month or does it take seemingly forever to save up for the big things?
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