I am 22, single. By the end of next month I will have $8,500 saved. I own a car (no payments). I do not own a house or any other major things. Am I doing okay? How much money did you have saved at this age?
2007-08-30 13:29:50 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You're doing great!
Very, VERY few people your age have even half that much saved.
Hell, I am 32 and don't have that much!
You must have very good financial habits. Keep them up and it will pay handsome dividends for you (no pun intended).
So many people your age piss away their money and wreck their credit.
So, to answer your question, you are in very good shape. Don't get so caught up in amassing wealth that you forget the big picture.
Money will never make you happy, but not having it will surely make you miserable!
Good luck!
2007-08-30 13:39:27 · answer #1 · answered by Rob 4 · 1⤊ 0⤋
Keep up the good work. Saving money is very difficult if you like to do/have things. But if it gives you a sense of security you should find it easy to save. I am 23, have 2 cars paid for. One I paid $13,500 last year, and the other $14,500 this year. I have $25,000 in the bank. None of the money was given to me. I worked for it all. I only make about $20,000 a year. Something I do to save up is set limits on my spending. $10 a day allowance during the week, and $50 on weekends. (unless it is a special occasion). One of the biggest things has been setting goals. For example you have $8,500. If that was me I would set a goal of never going below $6,500. If you had to get anything, you have to tell yourself that you only have $2,000 to spend. As you save more money your goal will increase and so will the amount you are able to spend. ($15,000 saved, $4,000-5,000 to spend) By the time you are ready to buy a house or anything you will have a good down payment. Just some tips I thought you would appreciate! By the way, When I was 20 I had all of $2,000 and an old crappy car. This system really works. And ... don't compare yourself to my situation, you are doing very very well.
2007-08-30 21:08:02 · answer #2 · answered by aaron c 1 · 0⤊ 0⤋
0$
2007-08-30 20:40:06 · answer #3 · answered by roberto p 1 · 0⤊ 1⤋
I am 23 the end of september, and i do not have any savings at all! I am a student nurse, so every bit of money i have is spent on travel and general tuition materials. So in my opinion you are doing very very well! And to be honest you could give me a job!
2007-08-30 20:37:04 · answer #4 · answered by Anonymous · 1⤊ 0⤋
i was luck im only 23 3 days ago but i was intruduced to this company six months ago becouse of the holidays i enjoy and before i knew it i found myself with money i didnt know what to do with so i bought a porsche. great fun
have a look at this www.make-you-money.biz it worked for me.
email me on l.daniels@able-electronics.com
and yes you are doindg ok but theres always room to do better!
2007-09-03 06:58:55 · answer #5 · answered by lewis Daniels 2 · 0⤊ 0⤋
for 22 you are really doing good. most young adults blow there money as they get it, your really smart girl. good luck to you
2007-08-30 20:37:13 · answer #6 · answered by yowuzup 5 · 1⤊ 0⤋
You're doing okay.
2007-08-30 20:36:21 · answer #7 · answered by bdancer222 7 · 0⤊ 0⤋