How much savings is good for 19 Years old?

JessikaSuddarth

How much savings is good for 19 Years old? And what are the modes of savings which is good for long term?

rictus123

Depends really, everyone is different. If you are on £30k a year and live with your parents, £10k is good. If you are on £20k a year and live on your own, £2k is good.

DiggerUK

Jessika,
At 19 you should be enjoying life and saving for short term goals only. Holidays, first banger etc., you should also concentrate on getting stoned, getting laid and getting away with it.

That being said.
You should learn from saving for short term goals, how to find your way around financial planning for the future. Just get a feel for what's out there for now.

I do not want you to think I am encouraging you to be reckless with money, but the fact remains you are 19.
Me? I'm nearer 69 than 19, but my memories are good. Make sure yours will be to.

Best of fortune.

LeeSouthEast

DiggerUK wrote: »

Jessika,
I do not want you to think I am encouraging you to be reckless with money, but the fact remains you are 19.
Me? I'm nearer 69 than 19, but my memories are good. Make sure yours will be to.

Best of fortune.

AMEN.

Don't spend more than you earn, and put a little away each month. Enjoy the rest.

Lokolo

It depends on the person.

I've got loads of savings and have bought a nice new sexy car and don't tend to want to spend the money on drugs. Each to their own I guess.

I will continue to save and live life how I see fit, rather than what others think.

WanWig

Its time to enjoy your life at 19 if you are earning good money then at least save 40-50% of it and rest you can spend to have some fun and buy some good stuffs

Driving_Soon

DiggerUK wrote: »

Jessika,
At 19 you should be enjoying life and saving for short term goals only. Holidays, first banger etc., you should also concentrate on getting stoned, getting laid and getting away with it.

That being said.
You should learn from saving for short term goals, how to find your way around financial planning for the future. Just get a feel for what's out there for now.

I do not want you to think I am encouraging you to be reckless with money, but the fact remains you are 19.
Me? I'm nearer 69 than 19, but my memories are good. Make sure yours will be to.

Best of fortune.

I'm young (22) and have a decent amount of savings (21k) but after reading this I thought to myself do I really have good memories and look back at the past on the fun and good times and the honest answer is ... not really!

Good post!! .... I'm going to aim to have more fun :rotfl:

juicyjude

Some good advice there I think

malik999

At 19 I had no savings left. First car, holidays, university, going out etc took care of that.

LeeSouthEast

My girlfriend is 19 so I feel qualified to comment. She has a small overdraft for emergencies in budgeting issues, but no credit cards or loans etc. She earns a half-decent wage for her age, contract mobile, and she just enjoys life. If she wants to get something (her car for example), or go on holiday, she just cuts back discretionary spending and saves instead. This is the way to do it at that age!

In my case 27 :eek: things start getting a bit more complicated. I earn much more money, and have longer-term plans to consider. But a little spreadsheet for "pot tracking", a solid and tested budget and as much overtime as I can eat at the moment keep things ticking along towards "success" nicely! I still budget for "having fun"

assassin112

I have no savings and have been living off ema in the last two years and it will be rare for me to have any savings when at uni, that is if I ever will go to uni. Chances are slim.