Savings - is 10% of net income enough

[ChablisLover]

Basically thats it

Is 10% of net income enough to be saving regularly?

Stems from huge arguement with dh who says its not and that I should save more.

It is about what I saved when I had enough to save. Surely it depends ob your outgoingsvand income ?

I believe that 10% is the recommended level, however, I suppose if you can afford it it wouldn't hurt to save more would it?

A bit like asking how long is a piece of string?

I don't think 'huge arguments' on finance are a good sign and I'd be interested to know what prompted it. Are you responsible for all the family finances that it's entirely down to you how much gets spent or saved? Is it DH's net income, your net income or a combination of the two? Are you saving for something specific or just for a rainy day?

Hi - a parcel from eBay prompted the argument and an accusation that I am wasting money. I spent £10 on winter camel wool coat on the basis that I always wanted a camel coat and no one else is buying a winter coats at the mo and I could get a bargain.

We have joint finances. Dh pays mortgage. I pay childminder fees etc and dh pays the majority of other bills and I contribute also. I pay phone and tv licence. He pays most of heating and electricity. I contribute a percentage to these also. I pay less as I earn less. I also have to pay more in travel costs whereas dh works from home and any travel costs are refunded by his employer.

I am saving for rainy day and also summer holidays. This is after a few years of financial black holes and career breaks

I also have professional subscriptions to pay by April and this has all been accounted for in my monthly budget.

Even after this I calculate I have approx 20% of net income left and this will be added to savings

I see this as reasonable. Am I missing something?

You're being reasonable and he isn't. If you've contributed your fair share to the bills, are saving 10% of the household income and you want to spend £19 out of your own money on something, I think he has no business starting an argument. If this is an uncharacteristic outburst, I would ignore it. If he is in the habit of nitpicking over your purchases and financial decisions, I would be worried.