(Is there definite amount one should save?)


Having gone through the habit of saving in my previous article, what should come to mind next is how much should one save?
And this question could not be answered in few words because; there are many conditions that determine this, some within our control and some which may not be.

But let us look at a man who works for a salary and how much he should apportion his income about as follows:-------



Savings account……….20%
Living---clothes, food and shelter……….50%
Education……….10%
Recreation……….10%
Life Insurance………10% Total = 100%

However, look at the average man and his approximate distribution and what he actually makes of his income:
Saving……….NOTHING
Living---clothes, food and shelter……….60%
Education……….0%
Recreation……….35%
Life Insurance……….5% Total=100%

Examining the line for recreation at the average man and his approximation, we should come to understand that,----http://www.kingsleyanyi.com//articles.php?id=1