 TITLE: How Much Money Should I Be Saving? CONTENT: Consider the 50\/30\/20 Plan\n--------------------------\nWhen you're looking at how much money you should be saving, you might want to look at the 50\/30\/20 budget plan. What does this plan involve? Under this type of budget, you allocate:\n*   50% of your income toward necessities such as rent or mortgage payments, food, utility bills and minimum debt payments.\n*   Up to 30% of your income toward discretionary spending. This category might include entertainment, shopping splurges and other purchases. Bottom line: Discretionary dollars aren't earmarked for everyday expenses.\n*   At least 20% of your income toward savings and debt payments. This includes savings for retirement, emergencies and various financial goals, such as buying a home. In addition, this category applies to debt payments that exceed the minimum amount due each month.\nThe 50\/30\/20 rule isn't a strict rule; it's merely a suggestion. If you want to put more toward savings and less toward discretionary spending, it could benefit you in the long run. It's up to you to decide what works best for your financial situation. END