What is a reasonable amount of money to save in a year?

I know it depends on gross income, but do you think you can think of a %? We both work full-time and have two kids---we pay a babysitter $400 a week.

Thanks!

Re: What is a reasonable amount of money to save in a year?

you mean cash savings only ( not 401K etc)? and it depends on what you are saving for as well.

I think if you already own a home 10% would be a great start. then you can eek it up from there.

We have a condo so we save a lot , about 45% of DH income plus our tax return which average from 8-10K. we were saving for a home (we now have the downpayment) now we are saving just to have a large cushion after closing since it's tought to save once u buy a home. we also needed to save a lot so we can rent out the condo and not have to sell.

my advice is to figure out your goal for what the $ would be for, and work from that !

Re: What is a reasonable amount of money to save in a year?

Re: What is a reasonable amount of money to save in a year?

I'm in the same boat. We were able to save our tax return from last year and that's it. We are little by little fixing up the house. We have life insurance a 401K, 403B, and some $ in savings, but like I said, that was from our tax return. It's VERY hard.