How Much Money Should You Realistically Have Saved By 30?

If you want to be able to have a decent amount saved by the time you’re 30, it can help by first dividing up your monthly income into three categories. Following a 50/20/30 strategy, as detailed in the book “All Your Worth: The Ultimate Lifetime Money Plan,” can help you begin the path to investing in your future. The way it works is that 50% of your after-tax monthly income should be allocated for your expenses, such as mortgage or rent, hydro, utilities, and so on. Then 20% of your earnings should go toward any of your high-interest debts, savings, as well as emergency funds. Finally, the remaining 30% can be put toward your wants, such as subscriptions for television and internet or anything that may seem as nonessential.


By the time you reach the age of 30, you should have saved at least one year’s worth of your salary. This could mean different numbers to different folks. For instance, if you make $30,000 a year by the time you’re 30, that amount should already be put away in a savings account. However, if you don’t have this amount saved already, that’s no reason to stress out or feel like you’re falling behind. As long as you’re putting something away, it’s a start. Let’s look at some ways to earn money for savings.