What is a standard percentage of your income that should be put away each month in your savings? (This is not including retirement) I am not posting this with a particular goal in mind... just for the unexpected. I am just looking for a general guideline. I have heard you should have 3 months income saved. Is this about right?

I try to maintain a 6 months' savings. 3 months is very responsble. 6 months' worth is responsible x 2 (because one should expect the unexpected).
My goal is to have a "rainy week" fund of 2 years' savings (because when it rains, it pours!)

I try like hell to put aside 10% of my income for those rainy days of terror.

Mr(singin' in the rain)Sensitive

If you're talking about retirement, then it depends on a lot of things--how old you are when you start saving, what your goals are for retirement, whether you already own a house, what your standard of living is like, and at what age you want to retire.

Age might be the biggest variable. Let's say you want to have $250,000 in the bank when you retire, you want to retire at 60, and you're buying money markets at 4%.

If you start at age 20, you'll have to save $211 per month.
If you start at age 30, you'll have to save $361 per month to reach the same goal.
If you start at age 40, you'll have to save $690 per month!

The longer you wait, the larger the amount you have to put away.

(The reason why I suggested buying a house and paying it off, your NEED will be much smaller, and you won't have to save as much.)

I am not a good "saver"...Everytime I think I will have money saved something comes up....My kids do have savings...more than 80% of their child support goes to savings. If the unthinkable happened we could survive on that. I hope one day to be responsible enough to save money, but right now it is spent before I even make it.

Excellant question Clarebear!

I wish we had more save when I got ill. Of course my illness lasted about 3 years so it would have taken a big chunk to help us. We now are also paying off bills and saving a little something for this situation. Very good question to how much.