What is an average amount of money that a 25 yr. old male should have saved? I know everyone makes a different slary than everone else and has all kinds of different sets of bills. But, how much would you say is good for a guy that age to have saved between age 25 and 26? Or what is the norm (if there is one in this case)?
2006-11-18 14:32:47 · 4 answers · asked by justellemJimsaidhello 1 in Business & Finance ➔ Personal Finance
ok, I'm fresh out of college and started a job at 30,000 in early Sept.
2006-11-18 14:53:56 · update #1
like the others , first set up an emergency fund.....6 months of living expenses. then pay off your debt ASAP, because thousands in savings means nothing if you have thousands in debts. find an amount you can take out of your paycheck and not notice, then add 50%. have the mindset that this money is gone, and you must make ends meet without it, until you retire.
dam i wish i were young again, this sounds like a real challenge.
money for retirement will give you the peace of mind
2006-11-18 15:42:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I used to work in a bank so I see a lot of bank accounts. My personal view is a 4 digit sum at least. The ones who are really disciplined have usually got 5 digit.
How much do you earn per month? What is your expenses per month? You should, as a guideline, have at least 3 to 6 months of cash reserves.
2006-11-18 14:48:17 · answer #2 · answered by floozy_niki 6 · 0⤊ 0⤋
At a minimum, you should always have 3-6 months worth of expenses saved.
2006-11-18 15:24:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
20% of his salary from when he started working. The more he makes, the more he should have saved.
2006-11-18 14:38:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋