2006-11-14 12:42:24 · 14 answers · asked by heavy_d65 2 in Business & Finance ➔ Personal Finance
All of it. Unless you are in dire need of something, save the money you make. You'll be glad you did so later.
2006-11-14 12:44:11 · answer #1 · answered by c 3 · 1⤊ 0⤋
I would recommend saving $40 of each $120. If you take that $40 and lock it into a one year CD each time you get paid, next year you will start to receive payments back in the order in which you saved them.
CDs are a great way to earn interest on money you do not plan on spending soon.
2006-11-14 20:51:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It depends what you're going to use it for. Let say for example, it's for Harley Davidson Motorcycle.You then go and check the prices at the motorcycle store, magazines or online. Once you know how much that item cost ,start making a budget plan. This will give you some idea on how much money you wish to put aside, so that you will be able to purchase that item.The more expensive the item cost ,the more you will have to save!!!
2006-11-14 21:00:02 · answer #3 · answered by curiosity10 2 · 0⤊ 0⤋
Well, if your parents are still footing most of your bills, I would say to save it all! Spend an occassional $20 on something fun, but, stash the rest for college or a car!
2006-11-14 20:51:52 · answer #4 · answered by lynnguys 6 · 0⤊ 0⤋
Don't even worry about retirement savings just yet, but you should be saving for your next car. If you pay cash for a new car, in addition to not paying interest on an auto loan, you're actually earning interest on your savings.
The more you save, the sooner you can buy that car. Just stick to it.
2006-11-15 09:08:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You should save all of it. Here is a typical breakdown of what I tried to teach my children. Put one third of it into one piggy bank, one third into another biggy bank, and one third of it into yet another piggy bank.
the first bank is for spending, bubble gum and soda pop money I called it. The second was for long term savings for something you really want thats a little big and requires some savings time to be able to buy it. The last third is for saving and you just don't ever touch it. I only had one daughter who really did it. she was stunned when one day we cut into her don't touch bank to count it up. I then reminded her that this was just one third of what she has gone through over the years. Her jaw dropped. Try it.
2006-11-15 00:55:09 · answer #6 · answered by john d 3 · 0⤊ 0⤋
It depends if you want to go to college and if so, if you have enough saved for college. If you do, still save most of it - maybe in a money market account. Give yourself an "allowance" every week for entertainment and incidentals, and then save the rest.
2006-11-14 20:46:14 · answer #7 · answered by braennvin2 5 · 1⤊ 0⤋
Try saving 1/2 of what you make and you will probably end up being very wealthy in later years.
2006-11-14 21:06:48 · answer #8 · answered by dbrrhds 1 · 0⤊ 0⤋
$60
2006-11-14 20:47:43 · answer #9 · answered by chinji 3 · 0⤊ 0⤋
As much as you can. I was always told to put back 10% to 20% of every check right into a savings account and forget you have it.
2006-11-14 20:47:39 · answer #10 · answered by doris_38133 5 · 0⤊ 0⤋
70
2006-11-14 20:45:06 · answer #11 · answered by David S 4 · 0⤊ 0⤋