top of page
Search

One-Size-Fits-None: Why Standard Savings Rules Don’t Work for Everyone

Savings boat

If you’ve ever seen a post saying you should have 1x your salary saved by 30 and felt that wave of panic — you’re not alone. The truth is, there’s no universal formula for how much you “should” have saved. Your income, lifestyle, and goals all play a huge role in determining your ideal savings number.


In this episode of Deeply Invested, we unpack the myths behind cookie-cutter savings benchmarks and walk you through how to measure your progress without comparison or guilt.


You’ll learn:

  • Why one-size-fits-all savings goals don’t work

  • How to set up your emergency fund, short-term, and long-term savings

  • How to calculate your own savings target using personal priorities

  • What to do if you feel behind (and how to catch up intentionally)


💭 The Myth of “One-Size-Fits-All” Savings Goals


Financial experts love formulas — but life rarely fits perfectly into one. Are they helpful as a reference? Sure. But it’s not the full story.


Your savings number should reflect your life — where you live, your job stability, your family goals, and what you value most. Comparing your savings journey to someone else’s is like comparing houses on different foundations.


💡 What Actually Matters: Your Savings Foundations


Forget the benchmarks — focus on your pillars:

  • Emergency Fund: Aim for 3–6 months of expenses (adjust based on your job security).

  • Short-Term Goals: Vacations, car, or a home down payment.

  • Long-Term Goals: Retirement, financial independence, or future education.


Each category should align with your personal priorities — because your financial plan should support your life, not the other way around.


🔢 How to Figure Out Your Ideal Savings Number


Instead of asking, “How much should I have saved by now?”, ask:

“Is my savings supporting the life I want now and in the future?”


Reflect on:

  • Your top goals for the next 1–3 years

  • Your retirement vision

  • Your job stability

  • The level of flexibility you want


Then, work backward to your ideal number. For example:

  • Buying a $400K home? Start with a $40K down payment goal.

  • Spending $5K/month on living expenses? You’ll want $15–30K in your emergency fund.


🎁 Free Tools:


🔄 How to Catch Up If You Feel Behind


If your current savings don’t match your age-based benchmarks, don’t stress — just refocus.

Start with:

  • Automation: Pay yourself first by setting up automatic transfers.

  • Windfalls: Use bonuses or tax refunds to boost savings.

  • Visibility: Keep your savings in a high-yield account and track your progress.


Balance is key — saving for your future shouldn’t mean depriving your present self. Every small, consistent action adds up to future independence.


🕰️ Your Savings Timeline Is Yours


Life happens — and your financial priorities shift with it. Dipping into your emergency fund isn’t a failure; it’s proof your plan worked. As Meghan shares, there are seasons where saving more (or less) makes sense depending on your goals and circumstances.


The goal isn’t perfection — it’s progress.


💬 Final Thoughts

Your savings journey is personal. The goal is to make confident, intentional choices that move you closer to your version of financial freedom.


💡 Action Steps:

  • Download your free trackers (linked in show notes)

  • Reflect on your current savings priorities

  • Subscribe to our newsletter for weekly money mindset tips

  • Share this episode with a friend who needs a reminder that they’re not behind


Because at the end of the day — every dollar saved is a step toward your freedom.


bottom of page