Is 4k considered decent savings for being 20?
What Guys Said 7
Yes very impressive0
Here in Australia $4000 is not a lot to have but is a lot to owe.
It might last a few months paying rent, bills, groceries, etc.0
Keep saving until you find a business opportunity to multiply that 4k into 8k, then 8k into 16k, 16k into 256k, 256k into 65.5million.
But remember: Dishonest money dwindles but those who collect little by little will prosper.0
It's pretty good keep saving though it'll take no time at all before you can get a new car or a house. It's the best way to do things.0
Considering most 20 year old people do not have any savings, yeah it's pretty good.0
What Girls Said 5
It's currently in a savings account correct? I recommend looking into placing your funds into a money market or certificate of deposit. You will earn a higher interest rate and therefore increase your investment. Problem being with a CD your money will be tied away anywhere from 3 months to 5 years ( some will have a special where its a shorter term but higher rates) and any withdraws or early closures will result in a penalty. With money markets Some banks may have a limitation on withdraws or may remove that limitation if you have an atm card with it. Both will have a higher interest rate than a savings account. Unfortunately the interest rates aren't like they were in the 80's. Happy hunting!0
Are you the same person that keeps asking? :|0
Is this a joke question? It's pretty friggin good.0
Yes, 4k is considered decent savings for your age.0
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