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How Much Should I Save Each Month?
In Episode 62 of the Real Life Planning Podcast, host Vekevia Tillman-Jones, CFP®, MBA, shares how to determine exactly how much you should be saving each month. Whether you're planning for a down payment, building your emergency fund, or aiming for financial freedom, this episode offers a practical, step-by-step approach to setting savings goals that align with your income and priorities.
This week on Real Life Planning Podcast:
💡 How to calculate your net monthly income and use it as a savings baseline [00:00:48]
💡 The 50/30/20 rule—and why it’s a helpful starting point for goal-based saving [00:03:29]
💡 Turning big goals into bite-sized monthly targets [00:06:10]
💡 How employer contributions reduce your personal savings burden [00:07:09]
💡 Why your savings rate should grow as your income does [00:09:52]
Takeaway Quotes:
“Savings is not just a habit—it’s a muscle. You don’t even think about it. It’s something you put in place and automate." – Vekevia Tillman-Jones
“Break big savings goals down into monthly targets. It helps make the goal feel real, actionable, and achievable.” –Vekevia Tillman-Jones
Connect with Real Life Planning:
- X
- Real Life Planning on Bigger Pockets
- Email: [email protected]
About the Real Life Planning Podcast
Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.
The ReaL Life Planning Podcast is for educational purposes only. None of the information discussed is intended as investment, tax, accounting, or legal advice, nor as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, real property, or other securities or non-securities offering.
Real Life Planning, LLC is an Investment Advisor registered with the States of New Jersey, New York, Texas, Virginia, and California. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or completeness of, any description of securities, markets or developments mentioned. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, REALLIFEPLANNING.COM.
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By Cynthia MeyerIn Episode 62 of the Real Life Planning Podcast, host Vekevia Tillman-Jones, CFP®, MBA, shares how to determine exactly how much you should be saving each month. Whether you're planning for a down payment, building your emergency fund, or aiming for financial freedom, this episode offers a practical, step-by-step approach to setting savings goals that align with your income and priorities.
This week on Real Life Planning Podcast:
💡 How to calculate your net monthly income and use it as a savings baseline [00:00:48]
💡 The 50/30/20 rule—and why it’s a helpful starting point for goal-based saving [00:03:29]
💡 Turning big goals into bite-sized monthly targets [00:06:10]
💡 How employer contributions reduce your personal savings burden [00:07:09]
💡 Why your savings rate should grow as your income does [00:09:52]
Takeaway Quotes:
“Savings is not just a habit—it’s a muscle. You don’t even think about it. It’s something you put in place and automate." – Vekevia Tillman-Jones
“Break big savings goals down into monthly targets. It helps make the goal feel real, actionable, and achievable.” –Vekevia Tillman-Jones
Connect with Real Life Planning:
- X
- Real Life Planning on Bigger Pockets
- Email: [email protected]
About the Real Life Planning Podcast
Hosts Cynthia Meyer and Vekevia Tillman-Jones explore practical steps for real estate investors to build financial freedom and make working for someone else optional.
The ReaL Life Planning Podcast is for educational purposes only. None of the information discussed is intended as investment, tax, accounting, or legal advice, nor as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, real property, or other securities or non-securities offering.
Real Life Planning, LLC is an Investment Advisor registered with the States of New Jersey, New York, Texas, Virginia, and California. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy, or completeness of, any description of securities, markets or developments mentioned. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, REALLIFEPLANNING.COM.