Are you 20-30 years old and have no savings? We have calculated how much you should save. Surprise

— Saving "for a rainy day" is one of the foundations of healthy personal finances. The amount that is worth putting aside each month depends on age, life situation, income and expenses — explains Ewa Piotrowska. The most important thing is to build a so-called financial cushion. This is a reserve of money for unforeseen situations - job loss, illness, equipment failure or other sudden expenses. The recommended amount is from three to six monthly living costs, but it can be built gradually. Meanwhile, a study conducted by Opinia24 on behalf of Tavex shows that the percentage of Poles who save has fallen drastically. This is very visible in these younger age groups.

In the case of young people (18-24 years old), who were still the undisputed leaders in terms of saving in 2022, the situation changed drastically in 2024. "The percentage of young savers fell by over 25 percentage points and amounted to 72%. Although they still remained the group that saved the most compared to others, this decline is a clear signal that young people were particularly affected by the deterioration of the economic situation," writes PAP.

— According to the recommendation, a person aged 20 should save at least 10–20 percent of their net income per month — says Ewa Piotrowska in an interview with "Fakt". Does it sound impossible? The expert suggests how to do it.

There are several pieces of advice. — Focus on building a 1-3-month financial cushion. This is the basic goal in every age group. For example, if you are 20 and earn PLN 4,000 net, put aside PLN 400-800 per month — advises Piotrowska. She emphasizes that the priorities at this age are an emergency fund, paying off any debts (e.g. student debt) and learning financial habits.

In the case of 30-year-olds, the amount of savings increases significantly. According to the expert, it should amount to 15-25 percent of net income. - You should aim to save 3-6 months of living costs. For example, with expenses of PLN 6,000 per month, the goal of the cushion is PLN 18-36 thousand - Piotrowska enumerates.

Saving for 40-Year-Olds: Who Can Do It? What About Retirees?

According to "Fakt's" interlocutor, people over 40 should save as much as 20-30 percent of their net income, but part of that should be invested.

The financial cushion should cover six months of living costs plus include a fund for larger unforeseen expenses related to health, for example. The priority is to diversify savings (cash + investments), save for retirement (IKE/IKZE, PPK, private investments) and protect loved ones (insurance, will)

— enumerates Ewa Piotrowska.

In her opinion, however, at retirement age, a financial cushion should already exist. A safe level is savings of 6–12 months of expenses.

If a retiree's monthly needs are PLN 4,000, the cushion should be at the level of PLN 24,000-48,000. Priorities at this age are capital security (deposits, bonds), cash on hand (at least 1-2 months of expenses) and transfer of property management (powers of attorney, will)

— assesses "Fakt's" interlocutor.

How to Learn to Save? Expert Advice

Ewa Piotrowska also shows how to learn to save money

The first step is to control your spending. Controlling your spending and "paying yourself a salary" is an effective method of managing your personal finances. It helps you avoid living "from paycheck to paycheck" and build savings even with irregular income

— he explains.

Using her example, she shows how she does it step by step:

• I determine the monthly amount that I "withdraw" from my main account to my "life account."

• The payment should be fixed (e.g. PLN 3,500), even if you earned PLN 5,000 in a given month.

• I keep the surplus in a separate account (e.g. savings or business).

What helps you control your expenses:

• 24-hour rule – I wait 24 hours before making an impulsive purchase.

• The “me first” rule – immediately after receiving my paycheck, I transfer an agreed amount to savings.

• Zero budget – every zloty has a task assigned, no "free" money.

If I can already control my expenses, it is worth moving on to the second step of saving, that is, creating a so-called financial cushion.

Once you have a "rainy day" cushion, it is worth moving on to consciously building wealth and financial independence. After building a financial cushion, pay off expensive debts (if you have any) - cash loans, credit card debt. Interest on debts (e.g. 10-20%) "eats" your future savings faster than investments can increase them.

— says Piotrowska.

It indicates that it is finally worth starting to invest. After securing the basics (cushion + no debts), the money should "start working".

This is how you can invest:

• IKE/IKZE – saving for retirement with tax relief

• ETFs and shares – passive investing on the stock market

• Treasury bonds – safe, but not very profitable

• Investment funds – only low-cost and transparent ones.

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