How much should I save to set myself up for success?

20%

If you have $100 per month (job, parents), save $20. It’s for FUTURE YOU. Any month you can spare more, consider it cushion. Any month you save $0 (back to school spending, holidays), try to tack on an extra 5% in savings the next few months to make up for the previous shortfall. 20% may not seem like a lot, but sad fact - 65% of Americans save NOTHING. So if you hit $20 saved for every $100 you earn, whether you're 18 or 28 you're in great shape.

The other 80%?

For spending! But, break it up into 50% + 30%. 50% is for needs, 30% is for wants.  NEEDS = roof over your head, groceries, anything if you didn’t have it, life quality is low. WANTS = Netflix, eating out, anything that sucks to not have, but you’ll live. This, plus the 20% savings goal, makes up the “50-30-20 rule” (needs-fun-future) you’ll hear about for years to come.