Easier said than done. Unless you have a "very good" job you cannot easily live on less than you make if you're saving enough for you and your wife and the kids: paying the bills, paying the mortgage/rent, paying for adequate life and health insurance, paying into the 401k/IRA, paying the car payment, paying into the college fund, keeping the wifey happy with an annual vacation and at the same time support a habit... er.... hobby in which each piece averages a couple of hundred dollars or more. Saving for adequately for a family means more than socking away a few dollars a month when it's convenient to do so. Ultimately, it depends upon your income, how much you choose to save and how big is your hobby appetite.