I was playing with Excel earlier today and decided to find out how much I'd been saving percentage-wise. I was really surprised to find out that for the past 3 years, I'd been saving a whopping 20-26% of my net income... I found it surprising since I always felt like I wasn't saving nearly enough (shit salary, so the savings amounts are quite small).
Anyways, I haven't lived in Canada for close to ten years, so costs are different. I now have a short-term contract in the middle-east and am saving something like 80-85% of my salary. It's unusual, but interesting nonetheless.
Supposedly, the average Canadian saves 3% of their after tax income. http://www.moneysense.ca/save/are-yo...rage-canadian/
I'd be curious what everyone else saves. If you're not sure, just give a ballpark figure.
The money can be going anywhere: savings account, TFSA, RSP, mutual funds, stocks or whatever.
HOWEVER, to make things more level, you can't count what your employer matches to your contributions.
Also, DO NOT count your mortgage payments. I know this is an endless debate as most will consider it an investment, but in my mind it's still debt that you're paying off. Also, because house values and mortgages are all different, better to leave the mortgages out of it.
Simply put, what percentage of your net income to you put away/save/invest?