Is $1000 a small savings for being 21?

I feel broke lol


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Most Helpful Guy

  • It's small but it's a start I'm. 24 and I've seen more than 30,000$ come and go out my savings so I know what you mean but u are broke not going to lye it will come and go think of each 20$ as 1$ or 1 item or food meal that's about accuracy in how the world works with money.

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Most Helpful Girl

  • lol.. No, you are fine, sweetie. Considering the world and the economy as bad as it is, just save what you can and spend it before anyone else does.
    For '21,' many people your age spend it before they can save it.
    Good luck. xx

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What Guys Said 16

  • d00d you have just as much money i used to have when i was 21. i had maybe a little bit more than you did, like $1500, that's about it hahaa.

    all you need is a good job and save at least 85% of your paychecks if you can and you'll have a 5 digit bank account in no time, 6 digit bank account in the near future, and a promising 7 digit bank account with good time and hard work.

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    • well, here is the thing. I recently got a new job that will make me around $1000 a month and the only main bill I have is my car payment. which is $150 a month and I still live at home. Plus, I cannot forget about food and gas for the car haha. Is $1000 a month considered a good job for being 20?

    • yeah i would say that is really good for 20, when i was working at 21, i got paid every 2 weeks and each paycheck, AFTER TAXES, was about $330-$390, and it was fucking hard labor too (animal hospital). i think you're at a decent place in life right now, just spend what you have too like car and gas, you can buy food but if you spend money on food everyday you'll soon come to learn that food is the thing you spend your money on the most, people don't realize it and spend $2000 on food in like a month and a half, its fucking crazy. so just remember to take it easy on eating out, if you're buying groceries that's totally fine.

    • Thank you friend!

  • It depends on your cost of living and lifestyle.
    For some it's too little for others it's great.
    If you have debt then that's horrible, if you don't then good job!
    I've been receiving a lot of bank statements and credit reports from potential tenants and a lot of them have debt and not very much money saved.

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  • When I was 21 I was dirt poor in college and lived off mac and cheese lol. You're fine, esp if that is leftover money after your bills.

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    • So how did the job search go after college? Found something good?

    • Yessss I can say post-college life has more money and better quality food hahaha. Less free time tho, and so much fun in college!

      Crank out internships, that makes the job search easy.

  • It is a good start. It is an emergency reserve, in case of a big repair bill or other minor catastrophe. Just build upon it and se if you can get some income producing investments going.

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  • I think it is... but you still have time to save more from now on.

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    • Thanks for the ego boost -_-

  • no i think that good,,, now u should carefully plan out what u want to do with it,, saving is great an all but i wouldn't do that my whole life,, once you have a good amount of savings, i would start investing a bit of that money, cuz saving will not expand ur money, in investing there's a chance to make even more money

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  • The most I had when I was 21 was barely $4000. I would not go out for anything and didn't drive yet. Plus, I still lived at home.

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  • I have about that much in savings at the beginning of every month, but by the end of it, i am struggling to make sure i at least have $1 from overdrafting. Sucks😒

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    • Wait so that's what you begin with every month and from there you lose it due to bills?

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    • I decided to not even pay my phone bill this month, hopefully i have a little more left over than usual.

    • Best of luck

  • That is hell of a lot better than me right now.

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  • its good actually

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  • I'm 27 and have nothing I have a crap job

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  • It's a start, but it's nothing. Build a bigger savings and learn about stocks and investing.

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  • Not really if you are in a country where it is cheaper to live.

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  • having $0 savings is being broke... you're good to go keep adding to it!

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  • I ain't got much more than you. The bank takes most of my money for house loan repayments

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    • The rest goes to bills and food

  • It depends entirely on what your expenses are. I know people in their 50's with less money in the bank than you; that's what really scares me.

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What Girls Said 2

  • I have like £700 which will go up to about £800 by Friday though my boohoo addiction has returned. That's not bad. My friends are scrimping every penny, because they're unemployed.. but yanno. They're adults and have never had a job, I've had loads of jobs. We're doing good for our ages.

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    • Virtual high five! Me too yay us :)

  • That is not a small savings but I think you already know that

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