im 22 years old, living at home, in college and recently fired from my job ( which i loved), i'm curious to know what's the average saving amount for someone in my position or really someone in the gerenal age range?
2007-06-29 08:52:03 · 16 answers · asked by jimmy949993 1 in Business & Finance ➔ Personal Finance
rule of thumb is to have enough money saved to continue your current lifestyle for 2 months.
The average 22 year old will probably have between $1-3,000 saved up.
2007-06-29 08:55:43 · answer #1 · answered by Jim Shorts 4 · 1⤊ 0⤋
Well its hard to start saving money at your age, but I am 23 and last year started a 401 with my work. Try to find a job that will offer this so that you can at least have something going and working for you. I also try to have $1,000 in the bank at all times for emergencies, etc. Although I have to go into once in a while. Just start by putting in a small part of your pay check each week and soon you'll have a bit of money in savings.
2007-06-29 09:03:24 · answer #2 · answered by jdubs914 2 · 0⤊ 0⤋
One sure way to make yourself feel bad is to start comparing yourself to others. There hasn't been a "Norm" you could depend on since "Cheers" was cancelled. Worry about YOUR situation and how you can improve it. It's easy. You have a lot of advantages. You're young and you have a college degree. When you get another job start saving 10% of everything you make. Don't touch that money! Learn how to invest in the stock market. (Which contrary to what you may have heard is ridiculously easy) Live frugally on the other 90%. After about 10 years of this you will be the one everyone is envious of. And you'll be comfortable for the rest of your life. Don't worry about others.
2007-06-29 10:39:55 · answer #3 · answered by Big R 6 · 0⤊ 0⤋
Well, I'm 23 and I have nothing, nowt, zip. I live off of my managers salary and it still isn't enough! It sucks.
I do think it has something to do with the individual though, I mean I went to uni for a bit (didn't finish) and so couldn't get a full time job right away and had to live off of a pityful £1000 every 3 months! I mean really?
Besides the way I see it we're still young, you don't need to be thinking of savings and stuff just yet. just save some every month
AAAAnd you're living at home that's such a bonus!!! Stay there as long as you can and you'll soon save up some dough. I left at 17 hence always being skint - I cannot begin to explain how expensive living on your own is!!! Seriously!
2007-06-29 08:59:57 · answer #4 · answered by Anonymous · 0⤊ 2⤋
If you take my son as an average 22 year old, the answer is £24, he still lives at home and "between jobs"! What is a mother to do?
2007-06-29 09:02:20 · answer #5 · answered by Sparky 6 · 0⤊ 0⤋
Well it depends on your circumstances. Have you been to university, what kind of degree you completed if you went, what job you have been in, how well-off your parents are etc.
There are too numerous factors to go into here, but there iwll be no 'average'. Everyone is different.
I'm just coming up to 22 (on Wednesday, go me!) and I've saved up enough to buy a 3 bed-flat in central London, and have a healthy savings account as well as regular inputs in my current account.
2007-06-29 13:03:20 · answer #6 · answered by willliewaggler 3 · 0⤊ 0⤋
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2017-03-03 16:17:07 · answer #7 · answered by ? 3 · 0⤊ 0⤋
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2017-03-01 08:16:17 · answer #8 · answered by ? 3 · 0⤊ 0⤋
The average savings someone should have... enough to cover emergencies and near term expenses.
Honestly, most people your age don't have savings. They are i debt up to their eye balls from college.
2007-06-29 09:01:34 · answer #9 · answered by Michael C 7 · 2⤊ 0⤋
How long is a piece of string. Depends on the 22yr old how much they earn and if they bother to save. We are all individual.
2007-06-30 09:55:30 · answer #10 · answered by pollywallydoodle 3 · 0⤊ 0⤋