How much should I save every month?

A simple question, right? Well, there are a lot of factors at play…

What is your goal?

• Establish an Emergency Fund

• Pay Down Student Loan Debt

• Save for Big Purchase: House, Car, Wedding

• Save for College

• Pay Down Credit Card Debt

• Save for Retirement

Prioritize Goals with a Timeline:

• Less than ONE YEAR: Vacation, Emergency Savings, Holidays, Taxes, Wedding

• Less than TEN YEARS: New car, Buy house, Home repairs/renovation, College savings, Student loans

• LIFETIME: Retirement

Control Spending: How much should I be paying?

• Mortgage > 29%

• Car Payment > 15%

• Total Debt > 36%

Begin Saving: How much should I be saving? 20 % of take home pay

Seem daunting? Try 50/20/30

• 50% Essentials: Housing, Food, Utilities, Transportation, Child Care, Insurance, Minimum Debt Payments

• 20% Savings: Retirement Savings, Savings Plans, Additional Debt Payments, Emergency Savings

• 30% Flexible Spending: Entertainment, Gym Membership, Trips, etc.

Have Questions? Contact us today!

Gasaway Investment Advisors, Inc

7110 Stadium Drive

Kalamazoo, MI 49009

269-324-0080

info@gasawayinvestments.com

www.gasawayinvestments.com

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Please remember to contact us if there are any changes in your personal or financial situation or investment objectives for the purpose of reviewing, evaluating, or revising our previous recommendations and/or services, or if you want to impose, add, or modify any reasonable restrictions to our investment management services. Our current Form ADV Part 2, including disclosure of our advisory services is available to you, upon request, or at the SEC’s website here.