Reply to How much "should" I be saving a month?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Working on a budget so DH and I can make some important decisions about childcare and what we can and cannot afford. We have high HHI (350Kish) but we also have a lot of debt (all student loan, low interest). What's a good rule of thumb (and something preferably not too complicated) for how much you should pay yourself first/save ideally a month?

I've heard 20% a month into savings is a good barometer and we're at that. Meaning, I've got a budget worked out where we pay down some student loan debt every month, plus have a nanny, plus put away about 24% of our take home income each month into savings (including retirement). Thoughts? Is this good? Bad? Basically trying to make sure we can afford a nanny without being financially irresponsible. [/quote]

We make slightly less (~325k) and we save about 35-40% of our gross (counting 401k matching), but we don't want to work until we're 65 either. 24% of take home seems good for now.  Once the kids get older you can drop the nanny expense and funnel that to savings as well.[/quote]

I'm assuming you have a super high 401k match because after taxes there isn't that much left to live on.[/quote]

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