Anonymous wrote:What do you mean when you say you are saving "$x" every month? Does that usually mean pre- or post- retirement? What about 529s? Does it count as "saving" if you are refilling the emergency fund or know the will go toward a specific purchase or vacation?

I don't "say" that at all. Set your own goals and ignore the water cooler braggarts.

saving money and an emergency fund are the same. It's money set aside each month after all the bills are paid, never touched, in case you need it for a rainy day.

Or for a flood.

I see gofundme pages of people living in big beautiful homes in upper middle class neighborhoods begging for money to replace their flooded things, fix their homes and all I can think is why didn't you have money saved in case something happened ?

Because they spent whatever they made and now boo hoo because it's gone. Toys and experiences were more important. Living the dream so everyone could THINK they were somebody. Now all the neighbors know who's been fronting affluence.

Don't be like them. SAVE.

Saving money means you'll have it later when you need to use it, for whatever purpose.

Anonymous wrote:On DCUM, it means the amount left after you have maxed out 2 retirement accounts, put $1000 into each child's retirement fund, and otherwise funded whatever other retirement saving vehicles you have (IRA, stocks, etc.).

If you're able to set aside another $3-5k per month as "savings," but have nothing left over to spend frivolously on hats, you are among the poors.

But could never survive on just one income.

If you end up the year with more money (post taxes) than you started, you are saving. How that is allocated between the different devices (529/401k etc) and cash that can be invested in stocks/bonds or under the mattress is up for discussion.

I thin you need more context to answer this question. There is no uniform rule to interpret how different people interpret the word "saving" in a myriad of different contexts.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
My golden retriever understands more about personal finance than Michelle Singletary.

So, go on? Michelle Singletary may not be the smartest woman on the planet (neither am I), but I find her basic personal finance advice pretty informed.

So, 10% to the Church right?

You may disagree with her on this particular topic (I do), but I don't see how this goes to her understanding of personal finance.

Anonymous wrote:

Anonymous wrote:
My golden retriever understands more about personal finance than Michelle Singletary.

So, go on? Michelle Singletary may not be the smartest woman on the planet (neither am I), but I find her basic personal finance advice pretty informed.

So, 10% to the Church right?

Saving = saving more than you spend.

Anonymous wrote:
My golden retriever understands more about personal finance than Michelle Singletary.

So, go on? Michelle Singletary may not be the smartest woman on the planet (neither am I), but I find her basic personal finance advice pretty informed.

To me, "saving" is any money contributed from your total salary that increases your net worth.

For me, most of my saving is in the form of 401K, IRA and 529. I do have some liquid funds for emergencies - about $30K. But I'm in an expensive time of my life - a little bit house-poor (needed a short commute and good schools) and in the thick of kid-related expenses. I'll be in a pretty good place for retirement, though - paid-off house, plenty of money stashed away, kid will be out of college 10 years before that.

I think people usually mean post tax. So I think they usually don't mean savings into 401k - that is assumed in these kinds of posts.