Savings

I live with my parents and my expenses are only 500 every month. That's $6,000 a year

I read somewhere that you should have saved at least .5 of how much you spend by the end of the year, is that true? I do pretty well at saving and put away $65 of every paycheck, which ends up being $260 straight into my savings account every month. I haven't been saving for long, but if I save for a full year I'll have just over $3,000 saved up