When it comes to the question of how much you should be saving each month or what percentage of your budget you should dedicate to savings, there are a few variable to consider.
The first variable to consider is your income. You can save a larger percentage of your income if you have more coming in. For lower income (>$35k), we encourage you to get to the point where you are saving around 5% each month.
Above that a good rule of thumb is 10%. As your income increases, be sure to increase your savings (and giving), while trying to keep your spending low.
When we are talking about savings, these are for medium and long-term needs. Short term savings (within 1 to 2 years) should be taken out of your monthly percentages. You want to start with the $500 to $1,000 emergency fund and then after that work towards the long term savings.
If you are finding it hard to save, I'd encourage you to take a hard look at where all of your money is going. Cut down on "now expenses" so that you can save for expenses that will happen in the future.
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