What is the company match for your 401K? Most have 6%, so always match what your employer does since it is free money.
Here is a suggestion that I followed from the advice from my father. Do you have automatic deposits for your paychecks in your company? If so, have them set up $100 per pay period to go into a savings account. IF you cant afford $100, then $50 per pay period. Now when this money is deposited, don't touch your savings unless you have to. Most people will live on what they have in their checking accounts, so if you leave the savings alone, then you will be saving more for just an emergency.
Get your credit card paid down if possible and try to calculate a certain amount to charge per month and once you get to that amount, stay home and leave your credit cards there so wont be tempted.
Now here is an important lesson I learned from my father. When you get your next pay raise, put some of the additional amount into your savings. So say for instance you get a 5% raise. After taxes you have an extra $50 in your check. Now increase your savings for another $20 and keep the remaining $30 in your account. Since in most cases the 1st month with the extra money you find you have money left over due to the raise, but by 6 months, you find you are living on the extra money and wonder how you ever lived on the prior amount. So the reason for the automatic deposit is that you don't see that money and ultimately save more.
good luck
5% is better than most people with their 401K.
As a single person, you should be able to put aside 20% of your income. I'd shoot for 1/3rd 401K, 1/3rd Roth and 1/3rd regular savings. That way if you are out of work, you won't touch the 401K and if you have an emergency, you can use the Roth and avoid a tax bill.
5% is a great start, but I suggest putting an additional 5% (at least) into your emergency fund each month. The larger your emergency fund is, the more financial options you will have in the future.
I learned how to increase my savings by creating a free 5G Plan account. I suggest you do the same. It will give you lots of ways to increase your savings, spend less, and earn a little more. You can find it at 5gplan.com.
I hope it works as well for you as it has for me. Good luck!
Just automatically start saving another 5% into a savings account and every couple months try to increase it. Save first and then spend...not the other way around.
When you get any significant amount seek financial help.