{"id":174493,"date":"2022-02-03T00:00:00","date_gmt":"2022-02-03T00:00:00","guid":{"rendered":"https:\/\/ceotudent.com\/?p=174493"},"modified":"2022-11-02T13:12:50","modified_gmt":"2022-11-02T10:12:50","slug":"how-much-should-you-save-at-which-stages-of-your-life","status":"publish","type":"post","link":"https:\/\/ceotudent.com\/en\/how-much-should-you-save-at-which-stages-of-your-life","title":{"rendered":"How Much Should You Save at Which Stages of Your Life?"},"content":{"rendered":"<div class=\"line nText\">Gaining our financial independence is a prerequisite for all of us since we were little, proving to ourselves that we have stepped into adulthood, and even for some of us to be able to make our own decisions independently.<\/div>\n<div class=\"line nText\">Yes, saving money can often be difficult. The state of the economy, our obligatory needs and some extra expenses that will make our lives more colorful can force us <a class=\"wpil_keyword_link\" href=\"https:\/\/ceotudent.com\/en\/the-japanese-art-of-saving-money-in-5-points-kakeibo\/\" title=\"saving money\" data-wpil-keyword-link=\"linked\">to save money<\/a> . Especially if you have just started making money, managing money can sometimes become a nightmare. So, how do we get rid of this nightmare and how can we establish financial balance?<\/div>\n<p><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-1787826683754973\" data-ad-slot=\"8276300176\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<div class=\"line nHR\">\n<hr>\n<\/div>\n<div class=\"line nText\">\n<h2>Some Rules We Recommend You Follow When Saving Money<\/h2>\n<\/div>\n<div class=\"nImage\"><img decoding=\"async\" src=\"https:\/\/ceotudent.com\/wp-content\/images\/post\/user-5\/7utsyd.jpg\"><\/div>\n<div class=\"line nText\">1) Your savings need not necessarily be an amount. You should calculate your savings as a percentage.<\/div>\n<div class=\"line nText\">2) It is important that you set a saving percentage because it adjusts itself as your income increases or decreases without affecting your livelihood.<\/div>\n<div class=\"line nText\">3) It would be beneficial not to increase your spending ratio while your income is increasing. Instead, you can determine your savings rate based on the amount you have left when you subtract your essential needs from your income.<\/div>\n<div class=\"line nText\">4) It would be logical to make your savings not in money, but in precious metals. Since these precious metals are not affected by inflation, you will not lose your savings due to changing rates.<\/div>\n<p><amp-ad width=\"100vw\" height=\"320\" type=\"adsense\" data-ad-client=\"ca-pub-1787826683754973\" data-ad-slot=\"5405056807\" data-auto-format=\"rspv\" data-full-width=\"\"><\/p>\n<div overflow=\"\"><\/div>\n<p><\/amp-ad><\/p>\n<div class=\"line nHR\">\n<hr>\n<\/div>\n<div class=\"line nText\">\n<h2>How Much Should You Save at Which Stages of Your Life?<\/h2>\n<\/div>\n<div class=\"nImage\"><img decoding=\"async\" src=\"https:\/\/ceotudent.com\/wp-content\/images\/post\/user-5\/3iekzy.jpg\"><\/div>\n<div class=\"line nText\">Early Years of Your Career<\/div>\n<div class=\"line nText\">At this stage, you&#8217;re probably in your 20s and it may seem unlikely that saving will be a priority as your expenses are generally high during this time. However, at this stage, it would be a logical choice if you aim to save 25% of your total annual income. This means that you will try to cover all your expenses (including debt payments) with 75% and not exceed this rate. If you plan your budget properly, it is quite possible that you can save enough for the future.<\/div>\n<p><script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script><br \/>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-1787826683754973\" data-ad-slot=\"8276300176\"><\/ins><br \/>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/p>\n<div class=\"line nText\">Family Formation Phase<\/div>\n<div class=\"line nText\">At this stage, you&#8217;ll likely be in your 30s, 40s or 50s. In addition to the need for short- and medium-term savings to meet emergencies and your children&#8217;s education expenses, long-term savings can become more difficult with many increased responsibilities. At this stage, it is recommended that you save an amount equal to twice your annual income every five years. For example, if your annual income is $50,000, you should aim to save up to $100,000 in 5 years.<\/div>\n<div class=\"line nText\">Have your savings account linked to your main account so you can transfer the amount you decide at the beginning of each month. This will ensure disciplined management, making it difficult to delay saving.<\/div>\n<div class=\"line nText\">Retirement Stage<\/div>\n<div class=\"line nText\">At this stage, you should decide how you can realistically evaluate this savings, taking into account your lifetime savings.<\/div>\n<div class=\"line nText\"><b>Here are some tips to help you reach your main savings goals across all savings stages:<\/b><\/div>\n<p><amp-ad width=\"100vw\" height=\"320\" type=\"adsense\" data-ad-client=\"ca-pub-1787826683754973\" data-ad-slot=\"5405056807\" data-auto-format=\"rspv\" data-full-width=\"\"><\/p>\n<div overflow=\"\"><\/div>\n<p><\/amp-ad><\/p>\n<div class=\"line nHR\">\n<hr>\n<\/div>\n<div class=\"line nText\">\n<h2>Spend as much as you earn and make sure you stay on a good credit score.<\/h2>\n<\/div>\n<div class=\"line nText\">Your credit score is your financial history, and if things get worse at some point, you may need to take out a loan. At this stage, you may want to make sure you pay off your debts and maintain a clean financial statement.<\/div>\n<div class=\"line nHR\">\n<hr>\n<\/div>\n<div class=\"line nText\">\n<h2>Create an emergency fund.<\/h2>\n<\/div>\n<div class=\"nImage\"><img decoding=\"async\" src=\"https:\/\/ceotudent.com\/wp-content\/images\/post\/user-5\/d5h75u.jpg\"><\/div>\n<div class=\"line nText\">When unexpected emergencies occur, such as when you lose your job, you can rely on your emergency funds to avoid having to use up your long-term savings or retirement savings.<\/div>\n<div class=\"line nText\">At the end of the day, saving from the early years of your career towards retirement is a long game. No matter what stage you are at, not meeting your savings goals will not make you a failure. The important thing is to get back on track as soon as possible.<\/div>\n<div id=\"empty-line\" class=\"nText \"><a class=\"ceo-tooltip-top\" href=\"https:\/\/www.lifehack.org\/578659\/how-much-should-have-savings\" target=\"_blank\" rel=\"noopener noreferrer\" aria-label=\"https:\/\/www.lifehack.org\/578659\/how-much-should-have-savings\"><i>Source.<\/i><\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gaining our financial independence is a prerequisite for all of us since we were little, proving to ourselves that we have stepped into adulthood, and even for some of us to be able to make our own decisions independently. Yes, saving money can often be difficult. The state of the economy, our obligatory needs and&#8230;<\/p>\n","protected":false},"author":89,"featured_media":132446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17211],"tags":[20993,20995,21029,20989,21011,21037,21031,21024,20425,21015,20994,20998],"class_list":["post-174493","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life","tag-ada-en","tag-anlam-en","tag-basari-en","tag-dil-en","tag-egitim-en","tag-faydali-en","tag-hedefler-en","tag-icat-en","tag-mine","tag-oyun-en","tag-sira-en","tag-soru-en"],"_links":{"self":[{"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/posts\/174493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/users\/89"}],"replies":[{"embeddable":true,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/comments?post=174493"}],"version-history":[{"count":0,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/posts\/174493\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/media\/132446"}],"wp:attachment":[{"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/media?parent=174493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/categories?post=174493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceotudent.com\/en\/wp-json\/wp\/v2\/tags?post=174493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}