Aggressive saving 101: Tips to save over 50 percent of your income every month

AJ Bell expert discusses new 3.5% savings bond

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FIRE is well known for its extremist money management, with aggressive saving plans that often see 70 percent of one’s monthly income going directly into savings. While it may seem that this would leave some living in poverty while their savings grow, there are easier ways to save aggressively and build wealth sustainably.

Professionals in the finance realm recommended savers put away 15 percent of their income to retirement savings as early on in their career as possible. 

Having a set amount to save every month is a highly recommended strategy, but founders of finance website Frugal Twins shared that it should be far more than 15 percent. 

This is where aggressive savings come in and the FIRE movement comes in, living a frugal lifestyle and putting away as much as financially possible for retirement. 

FIRE stands for Financial Independence, Retire Early, an idea that originated in the early 90’s with the book: Your Money or Your Life by Vicki Robin and Joe Dominguez.

The Frugal Twins shared three ways savers of any income level can put aggressive savings into their financial plan for 2022. 


A well-known strategy of saving for any life goal is a good budget, but more importantly staying true to this budget as well. 

This requires accountability, responsibility and overall discipline by not giving into temptation for unnecessary purchases. 

A budget doesn’t have to be an overwhelming topic to approach either, starting simply by marking out necessary expenses and bills such as rent, food and transportation. 

Once these have been paid the rest of one’s income is seen as “disposable” meaning they can spend it on what they like. 

It is suggested that savers try to put as much of their disposable income into savings but the Frugal Twins noted: “If you find yourself dipping into savings every month, then something is wrong.”

Recalibrating one’s budget to perfection does take time and will come with a few learning curves but will ultimately serve one far better than trying to “wing” their savings strategy every month. 

Cut down monthly expenses

Once one has separated their necessary expenses from their luxury ones it is far easier to trim down the latter. 

Frugal Twins recommends cost-comparing utility providers to ensure one is receiving the best rates possible. 

Additionally, buying necessities at the cheapest possible price will also lower one’s non-negotiable monthly expenses. 

This can be done by avoiding name brands, waiting for items to go on sale and using cashback or rewards systems where possible.

Put extra money into savings

It’s not often that people find themselves with an extra payout, bonus or raise unexpectedly, but rather than splurging this money the Frugal Twins recommend putting it directly into savings. 

This can be an easy way of saving a lot of money quickly without one noticing it as they usually go without it. 

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