How Much Should I Save Each Month? | Real Life Planning Podcast Episode 62
Financial PlanningIn 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.
“You want your savings rate to grow as your income grows—not just your lifestyle.”- Vekevia Tillman-Jones
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 could reduce your personal savings Target [00:07:09] |
| 💡 | Why your savings rate should grow as your income grows [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
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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.
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