How much should I have saved by 25 and when I am 28

ftb999_2

Hi guys.

I finished university at 23 and I am now just turning 25. I have been working for 2 years now.

How much do you think I should have saved by 25yrs old and also when I am 28yrs old.

My salary has previously varied from 14k to 20k. but am now on 12k.

also how much should I try to put away a month?

I live with my parents and pay no bills apart from my mobile phone!

thanks.

kingmonkey

£12,000 by 25 years and £27300 by 28 years. Maybe even more if you pay no bills.

There are no rules though.

I guess sensible advise would be to make sure you sort out your pension & you can save as much as you feel comfortable with each month. I'm guessing from your username that your planning to buy a house, so this should give you a target.

ftb999_2

thanks 4 the advice, i thought the same. about 12k by 25..

kingmonkey wrote: »

£12,000 by 25 years and £27300 by 28 years. Maybe even more if you pay no bills.

There are no rules though.

I guess sensible advise would be to make sure you sort out your pension & you can save as much as you feel comfortable with each month. I'm guessing from your username that your planning to buy a house, so this should give you a target.

usedandabused

12k is too high, i would have thought 8k maybe 10k, especially if your income fluctuated.

on £12,000 a year, more than me lol it would be hard to save more than £500 p/month, you shouldn't be too fussed on what you should have saved, everyone's cricumstances are different.

just save what you can afford and never neglect bills, i'm speaking from experience.

ftb999_2

usedandabused wrote: »

12k is too high, i would have thought 8k maybe 10k, especially if your income fluctuated.

on £12,000 a year, more than me lol it would be hard to save more than £500 p/month, you shouldn't be too fussed on what you should have saved, everyone's cricumstances are different.

just save what you can afford and never neglect bills, i'm speaking from experience.

about 10 -12k sounds right so far...

ftb999_2

kingmonkey wrote: »

£12,000 by 25 years and £27300 by 28 years. Maybe even more if you pay no bills.

There are no rules though.

I guess sensible advise would be to make sure you sort out your pension & you can save as much as you feel comfortable with each month. I'm guessing from your username that your planning to buy a house, so this should give you a target.

how did you get 27300 figure so precise?

mitchaa

What is all this rubbish about?

You are 25 and living with parents, try saving a fiver when you move out into the real world on that salary and you are doing well.

God, are you in for a BIG shock.

£12k by 25, £27k by 28? Says who?

sheslookinhot

There are no rules at all. Live your life and save what you can afford. I hardly had any savings for years until recently when there was sufficient to start saving for a rainy day.

The_MoneySavingKid

mitchaa wrote: »

What is all this rubbish about?

You are 25 and living with parents, try saving a fiver when you move out into the real world on that salary and you are doing well.

God, are you in for a BIG shock.

£12k by 25, £27k by 28? Says who?

Based on the fact that the average age for moving out is somewhere around 33 if I recall correctly?

I struggle to see the point in your post to be honest.

greenface

dont talk average to me with that figure I honestly dont know 1 33 year old that still lives at home not 1 male or female (dont know how old neighbours daughter is but poss not yet 33)strange little thing

mitchaa

The_MoneySavingKid wrote: »

Based on the fact that the average age for moving out is somewhere around 33 if I recall correctly?

I struggle to see the point in your post to be honest.

You are having a laugh.

I do not know of 1 person aged over 30 living at home with parents, in fact I do not know any 25yr olds living at home either.

I think it is plain weird to still be living with parents at 25 if I am being honest. At 25 you should be supporting yourself, living with a girlfriend/boyfriend and thinking about starting a family.

In my opinion anyway.

33 as an average living with parents:rotfl:That surely means if someone like me who moved out at 17, must have a 49yr old counterpart living at home to average that 33 figure. Yeah right:rotfl: