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Is saving 10% enough?

March 10th, 2006 at 02:33 am

That title question probably has a million different answers depending on the situation. I guess in this case what I am asking is, if you have a daily expense, and with not too much effort you can save 10%, wouldn't you do it?

For me that question comes up as I have been trying to car pool to work. Most people don't want to do it, or only if the amounts saved are really extreme. I now have someone I carpool with, but due to his schedule its only twice a week. And since he is half the way to work, the one day he drives I still have to go half way. So my savings are 10%, which is about 2/3 of a gallon of gas. Some people behave like its just not worth it, but I'm ok with it. Its not like I have to do it every day, and it is a saving.

I dunno, just a thought on my part. Saving 10% is worth it, isn't it? Right ... right?

Posted in Frugality | 7 Comments »

7 Responses to “Is saving 10% enough?”

  1. mjrube94 Says:
    March 10th, 2006 at 02:58 am 1141959501
    1141959501

    I like this post. I think many people look at each individual thing and think, "what's the big deal?" 10% on a $30 tank of gas is only $3. 10% on a $20 pair of jeans is only $2. But if people took 10% of their total monthly expenses, it'd be in the hundreds of dollars. All that is is the $2 and $3 and $4 savings added up. I think sometimes people have trouble seeing the big picture...

  2. baselle Says:
    March 10th, 2006 at 05:36 am 1141968960
    1141968960

    Thinking in percents works well with groceries too. Lots of things I buy vary by .20 per $2.00, in other words - 10%.

  3. kristina moffitt Says:
    March 10th, 2006 at 03:28 pm 1142004536
    1142004536

    Hey i car pool and my "commute" is only 7 miles. My car pool mate lives less than a mile from me. But here in sacramento (and i know other placed too) parking is at a premium! $8-9-10 a day to park. So instead of paying upwards of 150 we split it. We have considered riding bikes or something but we get to work really early (around 6) to be able to leave early (and have a life outside of work). And the few times i did that when i lived closer to work, I did get hit by a car and almost more times than i can count. So saving upwards of 100 dollars for gas and parking a month, well worth the "inconvenience" of carpooling. I save on gas too as he likes to drive, likes to feel in control so my car can sit in the drive all day. There are weeks when i don't drive my car three days a week.

  4. Money Talk$ Says:
    March 10th, 2006 at 04:59 pm 1142009994
    1142009994

    Saving anything is worth it 1% adds up given time. The longer you have to meet your goal (retirement, vacation, car) The less you need to save to meet that goal. If you are saving for emergency fund, you have no timetable just get saving.

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