How to Tell If You're Saving Enough

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I don't care what anyone says, when you have a drug addict son, a widowed mother you care for, had to pay to bury your father and father in law within 7 months of each other, a teenage daughter looking to go to college and live in NY - one of the most expensive cities in the world there's no way on God's green earth that I will see the daylight of being debt-free. Raises - what are they? Maybe when somebody pays to bury me...

LuAnn of NY 11:00PM March 17, 2011

i agreen that is good to live a peaceful live free of debts. but i must confess that its the debt that help me get financial stability if, not i would not be financially dicipline. to cap it all all of us need to be indebted to have some sence of commitment n dicipline, bcos is only debt that makes us think and crack our brain on d way out n a good future. why not co opt people from the developing countries where there expirience varies it may be the same cos there are alot of factors that really counts to push poelpe to be borrowing especially in our part of the world
from saad, abuja nigeria

saad of 3:55AM June 30, 2010

I don't care what anybody says, we live debt free (even our house is paid off) When we got raises at work we didn't increase our life style, we kept our cars instead of buying new ones skipped a couple of vacations as we neared the end of paying off our house. Pretty much just watched what we were spending and realized what we needed vs. what we wanted. Been living debt free for one year how and will never regret paying off everything. Will never again borrow $ We just paid cash for a beatiful new $28k truck. We have money to save and do whatever we want now. We have an emergency fund , life is stress free when it comes to money. The freedom is hard to describe - I wish I could convince everyone to do thisl

L.C. of TN 10:45AM May 25, 2010

life is uncertain but without money it will be hell so one has to save in this uncertain world

naina 7:38AM April 18, 2010

I agree with the guy who said take Financial Peace. Nothing in the course is new, mainly just common sense, but it's what got me straight. My husband and I went into marriage debt free and are planning to stay that way. As a single girl, I spent way too much, saved little to none and was always getting charged overdraft fees from my bank. My husband and I are doing well and are able to put away half of what we make each month. That's one of the greatest things about being debt free in my opinion!

Desiree of AZ 4:53PM April 17, 2010

I learned many lessons the hard way. the best lesson came when I lost my home and realized my whole worth was $2000 in my checking account - not even enough to pay my month's mortgage. Ten years ago, I started paying myself, saving 65% of my NET pay! It paid off. If I was able to do this on a small salary, I'm sure a lot could do better. Strive to be debt free.

teresa fadeley of NY 2:00PM April 17, 2010

Best advice I can give is to save your money. Many people live way beyond their means. I was raised with the attitude if you can't pay cash for it you don't need it. Of course that is easier said than done and my husband I have broken that rule many times. But it has only been on big ticket items like our house and cars, all of which have been paid off early. We financed our home for 15 years and then paid it off after 10. We now save 25% of our net income. Have we always saved 25%? No we have not but now that we plan to retire in about 10 years we know we need to step it up and may need to start saving even more.

Joan of KS 3:26PM April 05, 2010

For heaven's sake, BobL of MA, please take Dave Ramsey's course, "Financial Peace University"! At your rate, you will NEVER be able to retire. You are leaking money from your pockets and you haven't got a clue where it's all going. Man up! Develop a budget, pay off your debts and start to save. You don't have to make a big salary to pull this off. I know because I'm not rich, but I'M DEBT FREE!!! I even have a good chunk of savings. I plan to retire at age 55 in three more years.

Janie K of MI 6:32PM March 25, 2010

Forget about American way. Think by yourself. Is this what is best for you? What will you do when you retire? In your heart of hearts do you think its a good solution. Just because others are doing it is not the right solution. The others who you are trying to follow are not going to feed you or provide you shelter when you run out of money.

meghana of CA 1:44PM March 25, 2010

I agree with Paul of WI. Market Value of a given property is arbitrary in a falling or in flux economy, that is most probably the reason real estate lenders have gotten more conservative on how they value real estate. They don't really want to get stuck, but they don't care if you do.

Susan Mulledy of CA 12:21PM March 25, 2010