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[HerefordElite]

as mentioned, it all depends on your personal circumstances, and what you have spare after basic living costs.

Personally my savings varys per month, because my on-call rates change my pay.

I generally save between 35-50% of my monthly packet, last month it was 50% this month more likely 45%.

sound like you need to get yourself a wife kid and a mortgage  - far too much disposable income there for my liking young man

Ohh i do spend! Don't you worry:

Slovenia for a week in March

Spain for a week in June.

Motorbike CBT

Snowboarding Hobby!  

just jelous kid - i have a good month if i don't go too far into overdraft at moment .

75% of wages goes straight into joint AC to pay bills and the rest is fuel for the V6 & paying a loan back etc

get paid on friday though so looking forward to taking wife out for a few drinkies - 1 night out a month now we got little nipper

I am saving hard for a deposit for a house  

that'll be the end of snowboarding - you'lll be spending all your cash down B&Q

good luck

[tunnie]

got a least a year to go before i will think about buying yet. so plenty of time to hit the alps!  

[HerefordElite]

got a least a year to go before i will think about buying yet. so plenty of time to hit the alps!  

prices might have droped enough for you to get a foot on the ladder by then

[STMO123]

To save you beng tempted James, send any spare cash you have to me and I will "invest" it for you.

[albitz]

what are savings ?

[Entwood]

If you are going to try and save .. first place to put your cash is in an ISA - this will earn you tax-free interest.

You can put up to £3600 a year into one of these.

It's the only way to get interest without paying tax on it.

[Varche]

One thing to consider is saving in a pension scheme if you are in one. Just putting an extra one percent of your salary voluntarily in for the next 40 years will make a big difference to your pension. Course you might not want to do this for:

Might die before seeing it  
Can't get your hands on it till you are 50 or more
Darth Vader (or his successor) may change the rules and take it off you.

varche

PS 40 years is just a guess it might be 60by then!

[ians]

James there are some good regular savings accounts out there (eg Halifax) that you can fund on a regular monthly basis and pay very good rates of interest.   You can set the amount that goes out and set it up as a standing order to maintain discipline..

[unclelicklug]

It's a good question - if you save and we hit recession then almost certainly inflation will go up, maybe big time.
At which point your savings will be eroded.

My wife and I have been told we should be saving by:
Increasing pension payments
Starting ISAs

If your employer has a decent pension scheme then it's worth getting involved assuming they will be contributing a %age in - but effectively that money is not accessible short term, and beware lack of flexibility to transfer should you leave your current employer.

What percentage of wages to save?

As a bad saver I suppose I'd suggest start with a lot, if you can manage that's good, if not reduce until the pain stops!!

[maria]

I filled in an online form for a Isa account with my bank so i can save for the future and i am just got to wait now to see if it goes through....