Now, I do not want to get too personal with everyone's finances here.  Not asking to disclose income, I am curious as to how much people save as a percentage of their income and reasoning behind it.

I had a conversation with a friend and we have very different philosophies regarding money and saving.  I try to put away roughly 20% of my annual income into various saving pots.  Most goes to portfolio and retirement, some goes for rainy day fund in case expenditures pop up.  He, on the other hand, saves maybe 5% stating that he wants to enjoy his wealth now and not put off or worry so much.  We are both in our late 20s for frame of reference.

What are your thoughts on saving? What percentage do you save?

As low as 10% to as high as 25%. Even more important as work pensions are disappearing. Here is chart of savings per country if anyone's curious. 

Good point green_sky. One thing I say is I fully expect social programs like Social Security to not exist when I am old or be reformed to point I won't see any of my money back. The earlier you plan and put away, the less you have to sacrifice along the way and still have a nice sum in the future.

I run a monthly deficit of up to $120, and that's with food and gas covered by my parents, and not going into personal expenditures like videogames (which have been rare since i started this austerity regimen, three purchased games so far this year)

Edit: I never understood the naysaying "oh, social security will be gone by the time i'm old." No, it won't. The rapid graying of society is a trend that will hit a saturation point eventually, after which there will be an equilibrium.

The math will need adjusted no doubt, but these welfare programs are far from doomed.

I think the programs will at very least be reformed to accomodate people living longer and people above certain levels of income will not qualify.  My point is depending on it to be there and live on seems very optimistic.  I could see getting little to none of what I put in back, and I'd rather not leave such things up to chance as to how 2050 will look.  If I'm wrong I just have a bit of extra money I am not depending on.

Limited voting, but interesting to see two extremes developing. Impressed anyone puts away more than 40%.

Just be sure to spend any extra money you end up having. It's better for the economy

Once i get out of grad school, my only savings target, at least initially, will be to try to have savings of 3 months' salary (so try for 25% for my first year saved to cash/money market) as a safety net.

My problem is that I don't cook and some of my bills are to high. Which I stick to a company,i'm just to dam loyal. I have stock and 401k at walmart,so that has to count for something.

All my money comes from my parents, which technically shouldn't count as income, but I typically save anywhere from a third to half of it. Thank you based metabolism. (And, my school also pays me some cash a month in addition to my scholarship, too.)

You don't know when that extra cash might be useful, after all.

College student with a part time job, so uhh nothing really. I don't earn much so I just spend as I go. I haven't saved up money since I bought my car. I still live with my parents so I don't have any expenses either. I'll probably figure something out once I finish school and get a real job.