I Put 50% of My Income Into Savings — Here’s How

Discover how to up your savings game.

According to recent GOBankingRates survey, 69% of Americans have less than $1,000 in savings. After reading that, I realized that I am definitely in the minority with my money-saving mindset and take saving a lot more seriously than most. At 34 years young, I want it all but I don’t want to spend it all. I enjoy the “now,” but I also love preparing for the future, whether it be for a house, a trip, a family or just a rainy day of online splurging. And, because of that, I spend more time saving — 50% of my income, to be exact. 

Whether someone’s salary is $30,000 or $300,000 — I’ve been a saver since my mid-20s and know both ends of the salary spectrum — the logistics remain the same. And, over the past 10 years, I’ve gotten myself into habits that have helped me manage my hefty savings along the way.

I work extremely hard and if I can’t reap the fruits of my labor then what’s the point? I know so many people who love saving but are afraid of spending; and although saving is amazing, spending is what makes my life enjoyable, so I never deprive myself of things that I want.

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With that said, when I want something pricey, I tell myself to think about it for a week. If I truly feel, after that week ends, that I want it and I need it, then I get it — but while knowing whether or not I should buy it based on what I’ve spent thus far. With apps like Mint, I can track what I spend, so I know if I can buy the new dress I want or take an extra vacation. I play a bit of a mind game to keep things interesting and set goals so I can attain (purchase) certain things that I want. If I don’t meet those goals, I am not allowed to purchase them, and vice versa.

Know: 20 Tricks To Keep More of Your Paycheck in Your Pocket

Meal Prep To Save

Money prep and meal prep go hand in hand. I prepare my food week like my financial week: planning out meals and sticking to it — but now and then I give myself a cheat day. I still go out to restaurants, but I do it more methodically. At one point, I was spending, on average, $1,000+ per month dining out.

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“Homemade” wasn’t necessarily that much better, especially when going grocery shopping on an empty stomach and thinking I needed about 20 more food items then I would be able to eat within the proper expiration date. When I stopped frivolously spending money dining out and focused more on what I was spending and purchasing at the grocery store, I made my body, mind and wallet healthier.

See: 16 Ways To Save Hundreds on Groceries

Always Allow Money To Make Money

My biggest rule of thumb is to always have my money making me money at all times. I think most people feel that saving doesn’t allow you to spend, but I see things differently, as saving correctly allows me to spend more. I never let money sit in an account that’s not generating something and creating more wealth for me. For example, after shopping the best interest-bearing savings account, I learned that the HSBC Direct Savings Account offered 2.22% APY. Once I put money into something like this, I give myself a goal to keep it there for at least 12 months before I can touch it. I even pretend like it’s not there at all, so I don’t focus on the savings cushion but rather focus on my current work and business — and generating more income.

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About the Author

Sam DeBianchi

Samantha (Sam) DeBianchi is an entrepreneur, real estate investor, branding genius, influencer and thought leader. Sam’s expertise has been seen on CNBC, Fox News, Fox Business, Bloomberg and CNBC World and has spoken to audiences as large as 4500+ at sold out conferences from New York to Australia. She was also the first woman to be casted on Bravo’s Million Dollar Listing (Miami) series.

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