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How much of your income should be allotted for saving.
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[QUOTE="mmrahmantitu, post: 261487, member: 86161"] Unfortunately, there is no single answer to this question as it depends on individual circumstances and preferences. However, some guidelines can help you figure out the right amount to allocate towards saving. Firstly, it is essential to understand that saving does not happen automatically. It requires effort and dedication. So, it is essential to set a goal for how much you want to save and why you want to save that amount. Secondly, you can use your savings to finance your lifestyle or defer purchases. The amount that you choose to save depends on your circumstances and preferences. However, it is recommended that you aim for at least 10% of your income to be saved for long-term goals such as buying a house or starting a family. Finally, ensure that you keep an eye on your spending and the inflation rate in the country, as this will help you determine whether your savings are growing at the same rate as your income or if there is a gap between them. If this happens, it may be necessary to increase the amount that goes into the long-term goals or cut back on other items to bridge the gap. [/QUOTE]
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How much of your income should be allotted for saving.
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