<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=331510594798275&amp;ev=PageView&amp;noscript=1">
Skip to Content Oregonians Credit Union Oregonians Credit Union
  • Save & Spend
    Save & Spend See an Overview
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Credit Calculators
    • Savings
      • Regular Share Accounts
      • Youth Savings
      • Homebuyer Savings
      • Money Market Accounts
      • Club Accounts
      • Share Certificates
      • IRA Accounts
    • Checking
      • My Rewards Checking
      • My Interest Checking
      • Checking Comparison
    • Credit
      • Credit Cards
      • Overdraft Line of Credit
    • Digital
      • Digital Banking Online
      • Mobile App
      • Digital Payments
      • Mobile Wallets
  • Borrow
    Borrow See an Overview
    • Current Rates
    • Mortgage Rates
    • Loan Calculators
    • Mortgage Calculators
    • Auto
      • New & Used
      • First Time Auto Buyer
      • Local Car Search
    • Home
      • HELOCs
      • Fixed Rate Equity
      • Mortgages
      • Home Improvement
    • Personal
      • Personal Loans
      • Line of Credit
      • Share Secured Loans
    • Recreational
      • Bicycles & Electric Bikes
      • RVs & ATVs
      • Motorcycles
  • Plan
    Plan See an Overview
    • Retirement Calculators
    • Financial Planning
    • Insurance
      • Auto
      • Home
      • AD&D
      • Life
    • Protections
      • Guaranteed Auto Protection (GAP)
      • Mechanical Repair Coverage (MRC)
      • Debt Protection

    Featured Program

    Oregonians Financial Planning image with father and baby walking

    Oregonians Financial Planning

    Plan for the road ahead and manage your wealth along the way.

    Learn more
  • Business
    Business
    • Current Rates
    • Disclosures
    • Fee Schedule
    • Business Checking
      • Business Membership
      • Small Business Checking
      • Business Interest Checking
    • Business Loans
      • Commercial Real Estate
      • Investment & Rental Property
      • Equipment Loans
      • Term Loans
      • Credit Cards
      • Line of Credit
    • Business Resources
      • See all
  • Learn
    Learn See an Overview
    • Education Explore videos, blogs, fraud prevention tips, and our knowledge base of information..
      • InfORmed Blog
      • FAQs Knowledge Base
      • Fraud Watch
    • Financial Tools Browse calculators, applications, disclosures, and apply for hardship assistance.
      • Resources & Disclosures
      • Calculators
      • Hardship Assistance

    Featured Resource

    It’s a Money Thing

    Get money savvy fast with fun videos and lesson plans on earning, saving, and more!

    Learn more
  • About
    About
    • About Us
      • Who Can Join
      • Community Involvement
      • Scholarships
      • Latest Annual Report
      • Careers
    • Locations
      • Beaverton
      • Gresham
      • Milwaukie
      • NE Portland
      • Oregon City
      • Prineville
      • St. Johns

    CO-OP logo

    30,000+ fee-free ATMs

    Get cash at 30,000 fee-free ATMs nationwide, many of which will take deposits into your Oregonians accounts.

    Find an ATM
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Routing #: 323075709
  • Locations
  • Rates
  • Contact
Call or Text: 503-239-5336
Join
  • I want to...
    • Become a Member
    • Talk to Someone
    • Apply for a Loan
    • Open an Account
    • Check Loan Status
    • See Current Rates
  • Locations
  • Rates
  • Contact
Account Access
  • Forgot Password
  • Forgot User Name

Don't have an account?

Enroll
Blog
    • Everyday Finance
    • Budgeting
    • Fraud Prevention
    • Finances
    • Savings
    • Holidays
    • Scams
    • Home Financing
    • Debt
    • Saving
    • Credit Cards
    • Investing
    • Car Buying
    • Fraud Watch
    • Home Improvement
    • Community
    • Homeownership
    • identity theft
    • Taxes
    • bills
    • Insurance
    • Travel Tips
    • Financial Wellness
    • Mortgage
    • retirement
    • vacation
    • Financial Security
    • shopping
    • Credit
    • General Health
    • Home Loans
    • car
    • house
    • investment
    • marriage
    • school
    • summer
    • 401(k)
    • Cash
    • frugal living
    • heloc
    • interest
    • job hunting
    • parenting
    • thanksgiving
    • winter
    • Auto Loans
    • DIY
    • Debit
    • First-Time Homeowner
    • Home Equity Loan
    • Home Inspection
    • Housing Market
    • Mobile Wallets
    • Mortgages
    • Personal Loans
    • Scholarships
    • Selling Your Home
    • Share Secured Loans
    • Spending
    • Student Loan
    • Telemarketing
    • Your Credit
    • camping
    • credit card
    • financing
    • gas
    • goals
    • grant
    • hacker
    • health insurance
    • heritage
    • insurance myths
    • insurance policy
    • kids and money
    • life insurance
    • malware
    • medical history
    • money management
    • mother's day
    • motorcycle
    • mutual funds
    • rv
    • samsung pay
    • security
    • single parents
    • skip payment
    • skipapay
    • spanish
    • stimulus
    • technology
    • thriving
    • trade in
    • wellness

How Much Money Should You Save Each Month?

Oregonians Credit Union Oregonians Credit Union Mar 10, 2021 4 min

How much of your income should you save each month? It’s a complicated question, and the answer often depends on a lot of factors that are unique to each individual. One of the standards for saving is the 50/30/20 rule. This guideline states that 50% of your monthly income should go to essentials, 30% should be for other spending, and 20% should be saved.

20% is a solid starting point, but it’s hard to use it as a blanket statement. Higher earners may be able to save a higher percentage of their money than someone who has to live paycheck-to-paycheck. Saving something is always better than saving nothing, so even if you can only save 5% or less each month, you’ll thank yourself when it finally comes time to retire.

Why Should You Save 20%?

20% is a good target to shoot for when you're trying to save. It helps ensure that you'll have a good sum of money saved up when you retire, thanks to the fact that you'll get a better return the more money you save. You probably don't want to have to work every day for the rest of your life. Saving as much as you can as early as possible ensures that you can retire on time, or maybe even early!

Even if 20% isn't a lot for you, it's nice to have money set aside for a vacation or emergency fund. In the end, you should save enough that your lifestyle is sustainable - and if your lifestyle isn't sustainable you might need to reevaluate your spending.

How to Save Money

The easiest and lowest-risk way to save is to open a savings account. Oregonians Credit Union has a variety of savings options. Our Regular Share savings account pays competitive dividends and requires just $5 to open. Our club accounts help you save for special occasions like vacation and Christmas. These accounts pay higher dividends on deposits to help you save and reach your goals quicker.

Additionally, Oregonians Credit Union offers Money Market accounts that higher dividends and still maintain flexibility. They require a minimum balance of $2,500 to avoid a fee. This is a great option if you have money ready to save upfront. Meanwhile, our Share Certificates lock in at a competitive rate for terms from 1 month to 5 years. A share certificate is an account with a high return but the money can't be accessed during the term period. It can be a profitable option if you're able to put away a significant amount of money for a long period of time.

With our mobile app, your accounts will always be right at your fingertips wherever you are in the world!

What if You Can't Save That Much?

We know that saving money isn't realistic for everyone. Many people have debt or are living more lean than they would prefer. But saving is something you will thank yourself for later. Rather than immediately shooting for that 20% goal, start with just 1%. If you take home $1000 per month that's only $10 you need to reserve for savings. Not so bad, right? Once you're comfortable with 1%, scale it up. Even if you need to go one percent at a time for a few months, that's better than nothing. Once you hit 5%, you'll probably feel a major sense of accomplishment! From there, keep trying to go higher over time until you hit 20%. You might find that somewhere along the way you're saving more than is comfortable for you, but you can always scale it back.

Now What?

Keep going and keep saving! Once you manage to save 20% each month, see if you can save even more than that. 30% is a fantastic target. If your goals are to buy something like a car or a house, college education for a child, or to retire early, you may want to try to save even more, like closer to 50%. If you can't even get to 20% right now, that may seem impossible, but every little bit you can save will make it easier to afford those major life expenses or to retire early.

The best thing you can do is start saving right now. The earlier you start, and the more money you can put away, the more comfortable you'll be when you finally retire. You can also get financial guidance from one of our member engagement officers. Visit our contact page or email meo@oregonianscu.com to get in touch with our Financial Guidance Service. We'll be happy to help!

Topics Covered

  • Everyday Finance

Subscribe to our Blog

Get the latest insights sent directly to your inbox.

Related Posts

Mar 24, 2021 4 min
Easy Ways to Start Investing (Even if You Don't Have a Lot of Money)
Investing
Nov 6, 2019 4 min
Thanksgiving Hacks To Save Time, Stress, and Money
Holidays
Nov 7, 2018 4 min
7 Ways to Save on Thanksgiving Costs this Month
thanksgiving
Jul 10, 2019 4 min
7 Money Myths You Need to Stop Believing Now
Everyday Finance
Oregonians Credit Union

6915 SE Lake Road, Milwaukie, OR 97267 

Call or Text

503-239-5336

Out of Area

800-982-2974

Routing #

323075709

Download our App

  • App Store Download
  • Google Play Store Download
  • Save & Spend
    • Open a New Account
    • Savings
    • Checking
    • Credit
    • Digital Banking
  • Borrow
    • Apply for a Loan
    • Vehicle Loans
    • Home Loans
    • Recreational Loans
    • Personal Loans
    • Business Loans
  • Plan
    • Insurance
    • Protections
    • Financial Planning
  • Learn
    • Informed Blog
    • Fraud Watch
    • It's a Money Thing
    • Calculators
    • Hardship Assistance
  • Business
    • Business Accounts
    • Business Loans
    • Business Resources
  • About
    • Become a Member
    • About Us
    • Contact Us
    • Locations
    • Careers
    • Privacy & Disclosures
    • Accessibility Policy
    • Site Map
    • Digital Banking Login

  • NCUA
  • Equal Housing Opportunity
©2025 Oregonians Credit Union All rights reserved.

You are leaving OregoniansCU.com

By accessing this link, you will be leaving Oregonian Credit Union's website and entering a website hosted by another party. Please be advised that you will no longer be subject to, or under the protection of, the privacy and security policies of Oregonian Credit Union's website. We encourage you to read and evaluate the privacy and security policies of the site you are entering, which may be different than those of Oregonian Credit Union.

 

Subscribe