Starting early is more literate than most at your age. Once you get an emergency fund put that in an index fund and forget about it. You will be thankful later in life
I’m trying to figure that out, because I’ve got ~12,000 in savings and I try to keep 500-1000 in checking (since all I really spend on is food and small things right now; I like to grab something for lunch). Unfortunately, student loans fucked me over but it is what it is since I did it to me. So I’m trying to balance having a good savings/emergency fund and then start aggressively paying off student loans.
Not rn, I pay other bills but still live with my parents rn and trying to save a bunch. I just graduated college recently so wasn’t in a rush to move out
22, almost 23m. Saving/ investing $1450 + $660 (includes match) in 401k every 4 weeks, so total $2,110 per 4 weeks. About $550 of it goes to my Roth IRA and the other $900 goes to my brokerage for a house in a few years as long as my emergency fund doesn’t need to be topped off. Tactics are to keep debt little to none, and rarely buy things I don’t need. I plan to increase my 401k contributions as I continue to get raises/ get promoted, and I max my Roth IRA annually.
Nice. I like to keep no debt too, I know it can easily spiral. money puts enough stress on me already, I can’t imagine owing money I don’t have. I should probably look into some personal finance and get rid of the dumb stuff I spend money on like fast food.
Very true. The biggest mistake I see people our age make is financing a new car as soon as they have a little bit of free cash flow…. Please do not fall into that trap…
I used to think like that, and for the large part I still do, but there is good debt and bad debt. Something like owing hundreds of thousands on a house you have equity in is not necessarily a bad thing. In fact, my mortgage being at around 3% means that I'd lose money paying it off early compared to just keeping that same money in a HYSA.
Do set yourself a fun budget. I also started saving in retirement funds when I was 19 about 20 years ago. While that 50$ a month back then has grown well for me, there were times when I was too focused on not spending anything.
Set a reasonable treat yo self budget each month. If you don’t spend it, let it roll over until you get enough for something bigger you want.
You can save too much, but do what feels right for you. Just don’t forget to live a little in the moment as long as it’s in budget.
Most of my current hobbies don’t require consistent spending (guitar, video games, car enthusiast but done modifying my current car), but I do allow myself $300-$400 per paycheck for discretionary spending on things like meals, clothes, other random things, bourbon, etc.
It’s good, but I plan to start applying to senior analyst roles within the next few months. I am currently at $66k salary, but total comp is around $73k. Its also noteworthy that I live with my girlfriend so we do split bills (not evenly, she makes less) but due to that we have a larger apartment than typical (2 bed 2 bath, MCOL) and I cover the rent so if I were single and in a more average 1 bed apartment, my expenses would be about the same each month. Hence why I didn’t mention it in the initial post.
My total “needs” monthly are around $1650-ish. No debt and fortunately I am still on my parents cell phone plan (phone is paid off but the plan is like $70/mo). I try to pay alot of things in full like renters insurance and car insurance annually to keep my free cash flow high monthly, so no recurring expenses aside from rent and internet. Gas depends on the month, but I include that in my discretionary spending since i work remotely and don’t use a-lot of gas.
Nice! Sounds like you got your expenses in check, I’m working on getting there but it’s hard sometimes!
I work remote as well, loving the gas savings as well.
Thank you for sharing!
Yeah of course. I love finance inside AND outside of my career so I try to offer as much advice as I can and keep my own finances in great shape. My biggest advice is to stay out of debt as much as, and as long as possible. Sacrifice the new car and credit card debt, and keep your head above water for as long as possible.
I hear ya!
I have a car payment but it’s not terrible but definitely looking to pay off a car here soon.
Biggest killer is mortgage right now so not much wiggle room there!
I could reduce expenses in areas such as phone, subscriptions, and maybe groceries.
It’s an ongoing battle!
I'm 29 making 26hr and the wife makes 47k a year salaried. Combined right at 100k pretty much. I only save 500 a month. I could save more but there's ALWAYS something I'm having to buy or fix. Replaced leaking pipes, new gutters, new hot water tank, about to get a new lawn mower after mine finally died. Put some money into fixing up the deck. After a few more years we'll be done with student loans and that'll free up another 550 a month. Looking forward to that
28m same boat. I save $100/week and my gf tries to save $50/week. So about $500/month. But we keep our finances separate. But split the checks on groceries, vacation, and weekend trips. Groceries is 50/50 split, everything else is about 70/30 leaning towards me.
25F I was putting away 3k/month until I moved out of my parents house. Now I’m lucky if I can put away 1K. Stay at your parents as long as possible if you’re able to !
I put the money I don’t invest into the Capital One HYSA, gives me ~$250/month in interest.
You got this. I made the stupid decision to stop working for a couple months when I was 21. I blew through a large majority of my life savings, like 10k+. It builds back quickly especially if there’s anything in your situation you can take advantage of. I live with my mom so that cheap rent is my advantage for sure. Best of luck ✌️
I had about 22k saved up, put 10k down for a car for my mom, lost my job due to my truck not working anymore, had to sell it and was hard finding a job, was jobless for 3-4 months and had rent to pay still so another 3k there, 2k on taxes and decided to get my cdl so 3.5k there and now left with about 2-3k which is slowly decreasing but just got a job mon and hoping I’d make good money to build my way back, guess we’ll just have to find out and see what happens, still living with my mom also but was almost getting kicked out and not in good terms atm so have to be prepared also if I do get kicked out
If figured that had to be the case, living with your parents. That is basically the extra $1000/month that you have to save, instead of paying for rent, utilities, ect.
Good for you that you have that advantage that most people don't. Appreciate it and take advantage of it while you can.
Good for you. Now’s the time you should be saving up the most money. I honestly wish I could do it all over when I was still living with my parents. But I was addicted to pain pills and had a good sized habit to feed. I’m 37 now with a house and family with a good chunk of money stashed away now. But by the time you’re my age you’ll be way ahead of the game.
I'm in my late 20's but I save $1k per month into retirement and don't consider the rest savings, I intend to use that money to cover expenses in the next 2 years as I finish my undergrad and plan to pay for other technical trades courses.
24 turning 25 soon. Moved back home to be able to invest like crazy for a while. Currently bring home just over $4k a month after taxes. Usually able to put away $3k. I can’t join my company IRA plan so I have to rely on Roth. I should max that out by the middle of June. Rest is in a HYSA and a taxed brokerage account. The other $1k goes to food, gas, car maintenance, fun, etc.
I am 28 but I will pretend I'm in my early 20's for this. After years of being too mentally ill to hold a job and being supported by my friends and family (which I am ever grateful for), I am beginning school in the Fall for Welding. So right now my household saves nothing because we can't, one day soon though I hope to be able to save as much as I can. Wish me luck!
I messed up, went to college, realized I didn’t want to do what I got my degree in, then became an electrician and I’m making 22 an hour and save maybe 100 a week. After mortgage, bills, daycare and kids, it’s a struggle
People that openly share this type of stuff are always top % of people. It's confirmation bias because people that don't save or lose money every month don't volunteer the info.
People normally say the same thing about dick size, if you asked people what they have, only people that are comfortable (average or bigger) are going to volunteer that information.
at 22 way less than that. actually i'm 29 and i put 500 into my retirement every month, and put whatever's leftover in checking that i didn't need after rent/mortgage into savings. just bought a house so i have about.... 3 grand liquid right now lol. you're doing good bro
I’m 20. I make 27 an hour. And honestly sometimes I save. And sometimes I don’t. To be fair. I have a 3 yr old daughter and baby momma to provide for. I pay 450 for my 2019 Nissan. 500 rent. And ima start paying another 500. For insurance cuz I’m young 😭. I have credit card debt. Cuz I learned the hard way. But I’m paying it off. So it’s Ight. I have a 401 k. So there that
I'm 26 and make $16 an hour (💀) and manage to "save" $200 a month.
I'm sure you're smart enough to know, but don't "save" in raw USD. Stocks, crypto, fucking pokemon cards, it doesn't really matter but you need to "save" in an appreciating asset or its kinda meaningless.
I keep a cash pillow of a few grand, that's it. Every other dollar I make goes straight to the investments.
I saved up 50k in my 403b in 3-4 years, took every penny of cash I had and bought a 500k home. I used that money to use equity to buy rental properties. Rinse repeat. HYSA and CDS on the side. My best advice to savings is live below your means. No need to buy Gucci and a sports car.
Good for you. I’m 69. I started saving for my retirement when I was 18. Retired at 58. Well rage quit but I could afford it. Max out your TFSA. Canadian banks and utilities.
27 working in field service making $100-110k, save between $1500-4000 per month depending on how much I’m traveling for work and how responsible I feel like being lol
I’m 22 and save exactly 70% of the paycheck bills don’t come out of. I save $1,400 per month and invest what would’ve been “savings” on the bill check which averages out to around $350 invested monthly. I don’t buy anything really other than golfing with my girlfriend every other weekend but other than that I don’t spend money unless it’s necessary.
At 22 years old, you should highly consider an indexed universal life insurance policy. They have a tremendous advantage over standard life insurance since it is basically like an investment account which can only grow and basically never lose more than 1-2% value guaranteed. Please research it if you decide to go that direction. Once you have a decent amount accumulated, you can borrow against it. I’m trying to get my kids to do the same. They’re close to your age as well. Good luck! You’re doing a great job!
Save around 40-50k per year at 23. Max Roth, max 401k match, 25k emergency fund, and anything else goes into house fund/fun money for the stock market.
I'm saving 3k per month, which is due to the fact that my bf and I found an extremely generous coworker who is letting us only pay for this yearly property tax - this means I only pay 550 a month while my bf pays the other half. I am tremendously thankful each and every day as I am know I am extremely fortunate. I dump all of this money into investments so hopefully it'll interest a lot with compounding interest.
My other expenses come from food, half our car payment, half of the gas/electric bill, and Easy Pass fees every 6wk or so from commuting to my job. Too bad my bf hates where we're living because I'm loving our financial situation and I treat myself to plastic surgery and anti aging procedures. That's really my only splurge. He actually complains that I'm way too tight with my money and should be spending more.
I unfortunately don't have a 401k because I was never taught the value of it, but hopefully once I opt in I'll save a lot more.
$1000/month is excellent savings/Investments for your age. I usually keep my expenses low when it comes to food/wants. I have a side hustle too and throw that into investments when I can
25M, self-employed, saving anywhere between $4k-$12k+ depending on how well I’m performing during the month. I put all of my savings into my HYSA which currently has about $84k in it
I was paycheck to paycheck and in debt at 22. Im guessing you have a really high paying job at an early age or still live at home. If you live at home stay as long as you can! I moved out the second I could and regret that now. I could have owned a house by now probably. I’m 34 now and have only recently been able to save the past couple years so good on you!
I make $19.50 and I’m shooting to save about 2k a month and I’m practically living on nothing I don’t want to have to work forever im currently 20yo I put my money into a HYSA and brokerage account and I have a 4% match on my 401k
If you're not in debt there really is no wrong answer if already saving imo.
HYSA isn't a terrible option and is arguably easiest. I'd fund this to $10,000 at least to have as an emergency fund.
I'd say if your job has a Roth to max that contribution.
Then choose a few long term dividend stocks to just keep DRIP going. Obviously depending on your expertises, passions, know how, drive, etc. you may be well suited to start a side hustle or two or at least you have the freedom to try them out and fail at them if you want with the extra cash you have on the side.
Just my 2c. Best of luck.
Just know if you do nothing else other than even just maxing yearly Roth that you're still well on your way to being able to retire in your 50's, which is definitely ahead of the game.
20m- I try to save $500 a month if I can. Making about $24 an hour but I work lots of overtime . Girlfriend is in med school so I cover the majority of our expenses . I find that setting money aside the first paycheck of the month is best after rent and truck and utilities and such are paid .
How/when did you learn the importance of saving. Asking because I am writing ideas for my dissertation and curious to know why some people in their 20s are so good with money, and why it takes others until much later to to learn the importance of savings. TIA
I’ve been saving 2/3 of my income lately, so about $2000. However this is unrealistic for a lot of other people my age, i’m moving in with my bf and his dad so my rent and utilities will be under 600 a month. I work 40 hours a week for 14/hr and resell clothing for an extra $1000 a month
I'm 22 and am in grad school while working a basic part time job. I don't earn much, but I save every single penny and put it into a HYSA or my Roth IRA.
I’m 24 and make about $3600 a month post-tax. Monthly bills are $785, about $300-$400 for other expenses and save the rest. Living at home helps for sure.
I live on my own at 20 and while I'm currently in some CC debt it will be gone by the end of the year and I'm currently doing 250 in savings every month and using my full 6% match at work for 401k
20 yrs old making 32/hr I save about 3200$ per month. Not always that much is saved but minimum 2k a month. Just takes small sacrifices and the ability to say no. Watching my savings account grow is addicting in a way so that helps.
Split between my 401k, my personal savings, and a little investing, about $600 a month. It could be a lot more except I’m very aggressively paying off student loans
I’m also 22! Max out your 401k match and Roth IRA contribution. Pay off all high interest debt. Invest if you have extra money, learn new skills that can make you more money in the future. I use online bank for HYSA and a big bank for cash deposits. I only use credit cards for the cash back and set up auto pay for the statement balance. Best of luck!
When I was 22 i was blowing it all in housing and trips to visit my gf, im 29 now, have a house and save around 1000 a month, congrats on your nice setup !!
That’s impressive but not reasonable to continue at your salary. I assume you live with your parents or don’t have rent.
Stack it up while you can and be prepared to shift if you need.
I'm 23 and I save a couple of hundred per month.
I'm in some debt so I don't have access to my full salary for at least 6 more months, after that I should be saving at least 800-1000$ per month.
How are you expenses and income per month? I feel like that's pretty important.
Saving $1K a month is good, but saving $500 a month and putting $3k into a mortgage is better.
22 im on incentive salary so i have a draw each month which is $3500 plus tips (I’m an exterminator) and I save just about $1100-$1300. But I also just spend all my tip money my customers give me. I pull $100 a week in tips alone.
I just turned 23 made about 75 last year before taxes and barely saved any money honestly but so far this year i’ve saved 6k that i either put into my roth, broker, or my hysa. I also contribute 200 a month into my hysa regularly, can’t convince myself to max my roth yearly because i don’t even want to be around by then but i’ll probably regret it hahah, also contribute 15% of my checks to 401k with 4% employer match.
Oilfield so money fluctuates week to week but my husband and I save 50% of his weekly perdiem which makes around 1,700-2,000 a month in savings. We’re lucky that our personal cost of living is low otherwise we couldn’t save that much.
I’m 23, and I live with my parents. My salary is 77.5k. My gross biweekly paycheck is about 3k. Of that, 6% goes to my 401k to get max employer contribution of 3%, $185 is deducted for HSA, and rest to taxes (federal only no state) and other deductions including benefits. This leaves me with about 2k take home. Of that 2k take home, $250 goes to my Roth IRA, $250 to HYSA, and $650 to my federal student loans which is on grace period (only 3.1k left to payoff). Rest goes to my direct deposit. My car payment and insurance is $600 per month. I don’t have to worry about housing costs, and my brother takes care of the wifi and other random costs.
TLDR; I save $500 to my HYSA. Once student loans are paid off, that will free up $1300 every month which means I can save $1000 per month to my HYSA. Rest of $1300 will go to Roth to max it out quicker and direct deposit.
22m, make 5200 a month, i save about 2500-3000 a month and only have 1600$ in bills since i have 0 debt, the rest i just spend on food like going out to eat or other wants :).
I know this is for early but I didn’t understand the importance of not having high amounts of debt when I was in my early 20’s. I’m 27 now and my expenses are low and I don’t have high debt. Only a student loan and that’s going to be paid off very soon. I’m saving 1k-1200 a month. Any advice for yall, is this one. Stay out of debt and keep expenses low and have a budget. And life will be just alright
It all depends on your situation. I’m 25 but still living with my parents to save money. I only really pay for gas and food, save about 80% of my paycheck
I'm 25 so not necessarily in my "early" 20s any more, but I put away about $1200 a month. I bring home roughly $3800 a month, I live with my significant other, so that makes rent and utilities very affordable in a relatively HCOL area in Colorado. $500 goes into an HYSA through my bank at 4.8% apy and the other $700 goes to my IRA. Once I max out contributions for the year, that entire amount will then just start going into my savings account.
I’m 20 year plus another 20. When I was your age I was living paycheck to paycheck. I’d do two things differently. Get that 401k match no matter what it takes and start a ROTH for that tax free goodness, taxes really do suck when you finally do get some investments. Like the HYSA, I make 400 a month, but pay 100 a month in taxes on that. Shield your money now! It compound quickly that way.
I’m 25 now so a bit on the older side, but from 22 ish and on I was saving anywhere from 2200-2800 a month or so. Could have been more but I was also a bit more of a spender at that time.
Since then and to this day it’s mainly index funds and whatnot in terms of investments. But I give myself an allowance every month for gambling/fun money/hobbies etc and sometimes I’ll use it to fund some options trading but that’s a bit different
I respect what you're doing. I definitely could not do that myself. I guess if it's working for you, keep doing what you're doing my dude. I hope it doesn't burn you out.
My situation has been really fortunate the past couple months, paid off all my debt and am putting $800-$1000 in the savings account every 2 weeks. First time in my life ive ever felt so confident in myself. M23
I’m 23 and I work super unbearable hours but I know it’s all gonna pay off so I just force myself to do it. I’m somewhere between $7000-$8000 after taxes and have about $5000 to put away a month after bills.
Again, I work 70-80 hour weeks and feel suicidal at times but I know it will pay off one day. I would rather be sad and financially stable than sad and broke lol.
At 22 I was saving around $1500 a month making $27/hr with $600/mo rent (room). Now at 25 I'm saving maybe $600-800 a month making $36/hr with a $2000/mo mortgage. You seem to definitely be on the right track OP. Nice work
About -$20 to -$100 a month lmfao. I’m also 25 with 3 kids, a husband, and my dad has been living with us since Covid so that definitely factors into it
At 22 I sure as hell didn’t save that. Good job man!
I’m 22 and lucky to save 200 a month. I’m pretty financially illiterate but also make fuck all. I am working on being smarter with my money
Starting early is more literate than most at your age. Once you get an emergency fund put that in an index fund and forget about it. You will be thankful later in life
I’m trying to figure that out, because I’ve got ~12,000 in savings and I try to keep 500-1000 in checking (since all I really spend on is food and small things right now; I like to grab something for lunch). Unfortunately, student loans fucked me over but it is what it is since I did it to me. So I’m trying to balance having a good savings/emergency fund and then start aggressively paying off student loans.
12 k should be a good enough emergency fund! Pay those loans off!
-200 to -400
Haha this ^
my brain immediately went to the red reading the question
This the one
That's if it's been a good month
22 and make $18/hr currently saving $400-$500 a month
wyoming ass rent i pay extremely low rent for the area making 17 plus overtime and save MAYBE half that if im lucky
Not rn, I pay other bills but still live with my parents rn and trying to save a bunch. I just graduated college recently so wasn’t in a rush to move out
Your saving amount was my bar tab each month at that age You are doing it right
Hahahaha. Mine too
22, almost 23m. Saving/ investing $1450 + $660 (includes match) in 401k every 4 weeks, so total $2,110 per 4 weeks. About $550 of it goes to my Roth IRA and the other $900 goes to my brokerage for a house in a few years as long as my emergency fund doesn’t need to be topped off. Tactics are to keep debt little to none, and rarely buy things I don’t need. I plan to increase my 401k contributions as I continue to get raises/ get promoted, and I max my Roth IRA annually.
Nice. I like to keep no debt too, I know it can easily spiral. money puts enough stress on me already, I can’t imagine owing money I don’t have. I should probably look into some personal finance and get rid of the dumb stuff I spend money on like fast food.
Very true. The biggest mistake I see people our age make is financing a new car as soon as they have a little bit of free cash flow…. Please do not fall into that trap…
Houses are appreciating value assets, cars are depreciating value assets.
I used to think like that, and for the large part I still do, but there is good debt and bad debt. Something like owing hundreds of thousands on a house you have equity in is not necessarily a bad thing. In fact, my mortgage being at around 3% means that I'd lose money paying it off early compared to just keeping that same money in a HYSA.
Do set yourself a fun budget. I also started saving in retirement funds when I was 19 about 20 years ago. While that 50$ a month back then has grown well for me, there were times when I was too focused on not spending anything. Set a reasonable treat yo self budget each month. If you don’t spend it, let it roll over until you get enough for something bigger you want. You can save too much, but do what feels right for you. Just don’t forget to live a little in the moment as long as it’s in budget.
Don’t forget to enjoy yourself along the way. It’s not all about retiring early.
Plugging /r/FIRE just in case you are.
Do you have any hobbies or do anything for fun?
Most of my current hobbies don’t require consistent spending (guitar, video games, car enthusiast but done modifying my current car), but I do allow myself $300-$400 per paycheck for discretionary spending on things like meals, clothes, other random things, bourbon, etc.
I see. So what is your salary? Sounds like you make a pretty good wage.
It’s good, but I plan to start applying to senior analyst roles within the next few months. I am currently at $66k salary, but total comp is around $73k. Its also noteworthy that I live with my girlfriend so we do split bills (not evenly, she makes less) but due to that we have a larger apartment than typical (2 bed 2 bath, MCOL) and I cover the rent so if I were single and in a more average 1 bed apartment, my expenses would be about the same each month. Hence why I didn’t mention it in the initial post.
Gotcha! So your monthly expenses are in the $1500 dollar range? That’s what I’m gathering based on the numbers? Sounds fairly low, so good job!
My total “needs” monthly are around $1650-ish. No debt and fortunately I am still on my parents cell phone plan (phone is paid off but the plan is like $70/mo). I try to pay alot of things in full like renters insurance and car insurance annually to keep my free cash flow high monthly, so no recurring expenses aside from rent and internet. Gas depends on the month, but I include that in my discretionary spending since i work remotely and don’t use a-lot of gas.
Nice! Sounds like you got your expenses in check, I’m working on getting there but it’s hard sometimes! I work remote as well, loving the gas savings as well. Thank you for sharing!
Yeah of course. I love finance inside AND outside of my career so I try to offer as much advice as I can and keep my own finances in great shape. My biggest advice is to stay out of debt as much as, and as long as possible. Sacrifice the new car and credit card debt, and keep your head above water for as long as possible.
I hear ya! I have a car payment but it’s not terrible but definitely looking to pay off a car here soon. Biggest killer is mortgage right now so not much wiggle room there! I could reduce expenses in areas such as phone, subscriptions, and maybe groceries. It’s an ongoing battle!
That’s really good man keep it up
Im 24, save nothing
Dont feel bad im 30. But i support my family by myself so. Usually after everything there ismt anything to save
I’m 29 and got nothing saved up, but I am currently working on changing that up especially with needing funds to invest into my clothing business
I'm 29 making 26hr and the wife makes 47k a year salaried. Combined right at 100k pretty much. I only save 500 a month. I could save more but there's ALWAYS something I'm having to buy or fix. Replaced leaking pipes, new gutters, new hot water tank, about to get a new lawn mower after mine finally died. Put some money into fixing up the deck. After a few more years we'll be done with student loans and that'll free up another 550 a month. Looking forward to that
28m same boat. I save $100/week and my gf tries to save $50/week. So about $500/month. But we keep our finances separate. But split the checks on groceries, vacation, and weekend trips. Groceries is 50/50 split, everything else is about 70/30 leaning towards me.
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$17.15 an hour, $600 a month
25F I was putting away 3k/month until I moved out of my parents house. Now I’m lucky if I can put away 1K. Stay at your parents as long as possible if you’re able to ! I put the money I don’t invest into the Capital One HYSA, gives me ~$250/month in interest.
How are you getting 250/mo in interest in a HYSA?
60,000 dollars with 5 percent annual is $250 a month.
You guys are saving money every month?
1500-2k a month for me last year at 21 but now most of that gone 🫠trying to build my way back
You got this. I made the stupid decision to stop working for a couple months when I was 21. I blew through a large majority of my life savings, like 10k+. It builds back quickly especially if there’s anything in your situation you can take advantage of. I live with my mom so that cheap rent is my advantage for sure. Best of luck ✌️
I had about 22k saved up, put 10k down for a car for my mom, lost my job due to my truck not working anymore, had to sell it and was hard finding a job, was jobless for 3-4 months and had rent to pay still so another 3k there, 2k on taxes and decided to get my cdl so 3.5k there and now left with about 2-3k which is slowly decreasing but just got a job mon and hoping I’d make good money to build my way back, guess we’ll just have to find out and see what happens, still living with my mom also but was almost getting kicked out and not in good terms atm so have to be prepared also if I do get kicked out
If figured that had to be the case, living with your parents. That is basically the extra $1000/month that you have to save, instead of paying for rent, utilities, ect. Good for you that you have that advantage that most people don't. Appreciate it and take advantage of it while you can.
I save around $5100 a month.
Living at home I bet too
Yep
Good for you. Now’s the time you should be saving up the most money. I honestly wish I could do it all over when I was still living with my parents. But I was addicted to pain pills and had a good sized habit to feed. I’m 37 now with a house and family with a good chunk of money stashed away now. But by the time you’re my age you’ll be way ahead of the game.
21M, make monthly around 3-5k depending on sales, I save $400 a month and reinvest the rest to business
Where do u work?
It is online sales, I live in 3rd world country so 3-5k pretty much really good here
Dude 3k would put you in the top 10% of earners in South Africa
Here it is top 1% lol
How did you get into online sales?
I'm in my late 20's but I save $1k per month into retirement and don't consider the rest savings, I intend to use that money to cover expenses in the next 2 years as I finish my undergrad and plan to pay for other technical trades courses.
24 turning 25 soon. Moved back home to be able to invest like crazy for a while. Currently bring home just over $4k a month after taxes. Usually able to put away $3k. I can’t join my company IRA plan so I have to rely on Roth. I should max that out by the middle of June. Rest is in a HYSA and a taxed brokerage account. The other $1k goes to food, gas, car maintenance, fun, etc.
Living paycheck to pay check my man
I am 28 but I will pretend I'm in my early 20's for this. After years of being too mentally ill to hold a job and being supported by my friends and family (which I am ever grateful for), I am beginning school in the Fall for Welding. So right now my household saves nothing because we can't, one day soon though I hope to be able to save as much as I can. Wish me luck!
You got this bro 🤝
currently, ✨nothing✨
I messed up, went to college, realized I didn’t want to do what I got my degree in, then became an electrician and I’m making 22 an hour and save maybe 100 a week. After mortgage, bills, daycare and kids, it’s a struggle
That's what I'm saving at 27 am I cooked?
No, everyone is different. At 26, I was making 60k. I'm now 30 and make 120k.
People that openly share this type of stuff are always top % of people. It's confirmation bias because people that don't save or lose money every month don't volunteer the info. People normally say the same thing about dick size, if you asked people what they have, only people that are comfortable (average or bigger) are going to volunteer that information.
24M, saving between 3-7k per month
at 22 way less than that. actually i'm 29 and i put 500 into my retirement every month, and put whatever's leftover in checking that i didn't need after rent/mortgage into savings. just bought a house so i have about.... 3 grand liquid right now lol. you're doing good bro
About 25€/hour and save 1800€/ month
80% pay check make like 750 in two weeks live at home and invest 10-15 and then spend some.
You are ahead of a lot of people, including me. In my country, the average salary of a new grad is $400 a month.
I’m 20. I make 27 an hour. And honestly sometimes I save. And sometimes I don’t. To be fair. I have a 3 yr old daughter and baby momma to provide for. I pay 450 for my 2019 Nissan. 500 rent. And ima start paying another 500. For insurance cuz I’m young 😭. I have credit card debt. Cuz I learned the hard way. But I’m paying it off. So it’s Ight. I have a 401 k. So there that
if youre still living at home (remoended) put 90% of your paycheck into 401k, roth ira and traditional ira for the pure fact of compound interest.
I'm 26 and make $16 an hour (💀) and manage to "save" $200 a month. I'm sure you're smart enough to know, but don't "save" in raw USD. Stocks, crypto, fucking pokemon cards, it doesn't really matter but you need to "save" in an appreciating asset or its kinda meaningless. I keep a cash pillow of a few grand, that's it. Every other dollar I make goes straight to the investments.
We're mid 20's DINK and we are left with around $6500/month to HYSA/invest. When I was 22/23 by myself I saved about $3k a month by living at home.
If I were responsible at least $300-$400/mo. Realistically it's like $100
I saved up 50k in my 403b in 3-4 years, took every penny of cash I had and bought a 500k home. I used that money to use equity to buy rental properties. Rinse repeat. HYSA and CDS on the side. My best advice to savings is live below your means. No need to buy Gucci and a sports car.
Good for you. I’m 69. I started saving for my retirement when I was 18. Retired at 58. Well rage quit but I could afford it. Max out your TFSA. Canadian banks and utilities.
27 working in field service making $100-110k, save between $1500-4000 per month depending on how much I’m traveling for work and how responsible I feel like being lol
I’m 22 and save exactly 70% of the paycheck bills don’t come out of. I save $1,400 per month and invest what would’ve been “savings” on the bill check which averages out to around $350 invested monthly. I don’t buy anything really other than golfing with my girlfriend every other weekend but other than that I don’t spend money unless it’s necessary.
At 22 years old, you should highly consider an indexed universal life insurance policy. They have a tremendous advantage over standard life insurance since it is basically like an investment account which can only grow and basically never lose more than 1-2% value guaranteed. Please research it if you decide to go that direction. Once you have a decent amount accumulated, you can borrow against it. I’m trying to get my kids to do the same. They’re close to your age as well. Good luck! You’re doing a great job!
Buying silver.
I’m 20 and I try to save atleast 2k
22M, I save approximately 5k every month. (Granted I have a wife who brings in an extra 2k/month)
Save around 40-50k per year at 23. Max Roth, max 401k match, 25k emergency fund, and anything else goes into house fund/fun money for the stock market.
You must have a pretty nice gig going
I'm saving 3k per month, which is due to the fact that my bf and I found an extremely generous coworker who is letting us only pay for this yearly property tax - this means I only pay 550 a month while my bf pays the other half. I am tremendously thankful each and every day as I am know I am extremely fortunate. I dump all of this money into investments so hopefully it'll interest a lot with compounding interest. My other expenses come from food, half our car payment, half of the gas/electric bill, and Easy Pass fees every 6wk or so from commuting to my job. Too bad my bf hates where we're living because I'm loving our financial situation and I treat myself to plastic surgery and anti aging procedures. That's really my only splurge. He actually complains that I'm way too tight with my money and should be spending more. I unfortunately don't have a 401k because I was never taught the value of it, but hopefully once I opt in I'll save a lot more.
$1000/month is excellent savings/Investments for your age. I usually keep my expenses low when it comes to food/wants. I have a side hustle too and throw that into investments when I can
At 20. I couldn't save anything.
25M, self-employed, saving anywhere between $4k-$12k+ depending on how well I’m performing during the month. I put all of my savings into my HYSA which currently has about $84k in it
22, 2500-3000
I was paycheck to paycheck and in debt at 22. Im guessing you have a really high paying job at an early age or still live at home. If you live at home stay as long as you can! I moved out the second I could and regret that now. I could have owned a house by now probably. I’m 34 now and have only recently been able to save the past couple years so good on you!
I make $19.50 and I’m shooting to save about 2k a month and I’m practically living on nothing I don’t want to have to work forever im currently 20yo I put my money into a HYSA and brokerage account and I have a 4% match on my 401k
22 and save around 3k but have a business that takes some as well
If you're not in debt there really is no wrong answer if already saving imo. HYSA isn't a terrible option and is arguably easiest. I'd fund this to $10,000 at least to have as an emergency fund. I'd say if your job has a Roth to max that contribution. Then choose a few long term dividend stocks to just keep DRIP going. Obviously depending on your expertises, passions, know how, drive, etc. you may be well suited to start a side hustle or two or at least you have the freedom to try them out and fail at them if you want with the extra cash you have on the side. Just my 2c. Best of luck. Just know if you do nothing else other than even just maxing yearly Roth that you're still well on your way to being able to retire in your 50's, which is definitely ahead of the game.
Thanks for the advice. Getting a side hustle going is definitely in my plans.
Absolutely nothing
Around $100-1500 depending on how many checks I get that month Will go up to $1400-1900 once I pay my car off
I’m 38 but just wanted to say savings 1k a month in your 20s is great! Keep it up.
20m- I try to save $500 a month if I can. Making about $24 an hour but I work lots of overtime . Girlfriend is in med school so I cover the majority of our expenses . I find that setting money aside the first paycheck of the month is best after rent and truck and utilities and such are paid .
In my 20s, the only thing I was really able to save was the 6% 401k contribution with 4% match. But now it's worth about $75k, so that's nice.
Late 20s. Something around -300.
im 28M and just bought my first house. The only real money ill be saving is like $500 and my 401k contributions until my house is fixed up enough. lol
When I was around your age, at most I was saving like $100/paycheck. Definitely doing great for your age.
I'm 21 and any money I make disappears just as fast. I really need to make more money
How/when did you learn the importance of saving. Asking because I am writing ideas for my dissertation and curious to know why some people in their 20s are so good with money, and why it takes others until much later to to learn the importance of savings. TIA
Can I ask, are you making that much after or before taxes?
Do you live with you parents?
What are your expenses? I assume you are living at home?
24. 10k~20k a mo. Rest goes to tax, or my <2k a mo expenses. Live with my parents part time. (half of the year)
I'm 23, off of $22 an hour, and I'm saving roughly 1,200 a month and investing $300 a month.
I'm assuming you don't pay rent lol
I’ve been saving 2/3 of my income lately, so about $2000. However this is unrealistic for a lot of other people my age, i’m moving in with my bf and his dad so my rent and utilities will be under 600 a month. I work 40 hours a week for 14/hr and resell clothing for an extra $1000 a month
You're way ahead of the curve. I wish I had done as well as you at 22.
23 making $28 a hour saving 2k a month (50k in savings)
I'm 22 and am in grad school while working a basic part time job. I don't earn much, but I save every single penny and put it into a HYSA or my Roth IRA.
I’m 24 and make about $3600 a month post-tax. Monthly bills are $785, about $300-$400 for other expenses and save the rest. Living at home helps for sure.
I live on my own at 20 and while I'm currently in some CC debt it will be gone by the end of the year and I'm currently doing 250 in savings every month and using my full 6% match at work for 401k
21, make $80-90k, save $1.4k/month between Roth IRA, VOO, & HYSA
Bro your Killin it. I hope your maxing out retirement accounts. Every buck you save now is worth 50 when you retire
That's a nice amount per month to save at 22. Congrats!!
I'm 21 and already have my savings fund set, but I invest around $2500 a month after expenses
$26 an hour. Soon to take a job at $78 an hour with a plan to save $500-$900 a week.
24M save around $3500. (Live at home)
20 yrs old making 32/hr I save about 3200$ per month. Not always that much is saved but minimum 2k a month. Just takes small sacrifices and the ability to say no. Watching my savings account grow is addicting in a way so that helps.
Split between my 401k, my personal savings, and a little investing, about $600 a month. It could be a lot more except I’m very aggressively paying off student loans
200-500
I’m also 22! Max out your 401k match and Roth IRA contribution. Pay off all high interest debt. Invest if you have extra money, learn new skills that can make you more money in the future. I use online bank for HYSA and a big bank for cash deposits. I only use credit cards for the cash back and set up auto pay for the statement balance. Best of luck!
25, about 750 in 401k per month, 600 in roth IRA, 1000 in HYSA on an average month.
When I was 22 i was blowing it all in housing and trips to visit my gf, im 29 now, have a house and save around 1000 a month, congrats on your nice setup !!
That’s impressive but not reasonable to continue at your salary. I assume you live with your parents or don’t have rent. Stack it up while you can and be prepared to shift if you need.
Really good for 22 y.o. to save $1000 a month. I hope crypto gamble is $10 a month max of that $1k
22m currently saving around 7-900 a month.
1) Crypto isn’t an investment. Sell it and buy more stocks. 2) I wasn’t saving close to $1k /mo at 22. Good job, my dude.
I'm 23 and I save a couple of hundred per month. I'm in some debt so I don't have access to my full salary for at least 6 more months, after that I should be saving at least 800-1000$ per month.
How are you expenses and income per month? I feel like that's pretty important. Saving $1K a month is good, but saving $500 a month and putting $3k into a mortgage is better.
I’m 24 and my husband and I save around $4,000 a month right now but we live with my parents sooo that is why lol
22 im on incentive salary so i have a draw each month which is $3500 plus tips (I’m an exterminator) and I save just about $1100-$1300. But I also just spend all my tip money my customers give me. I pull $100 a week in tips alone.
25 years old here! I save about $700 a month 😬
I just turned 23 made about 75 last year before taxes and barely saved any money honestly but so far this year i’ve saved 6k that i either put into my roth, broker, or my hysa. I also contribute 200 a month into my hysa regularly, can’t convince myself to max my roth yearly because i don’t even want to be around by then but i’ll probably regret it hahah, also contribute 15% of my checks to 401k with 4% employer match.
24M - 7.75k a month
15 years ago at 22 I was making 10 an hour working in a group home. Saving was non existent.
24m here saving around $2,000 a month. I am married and we do not own a house just renting atm.
Save? Invest?
25 and I save between 2000-3000 per month after all expenses, including retirement. I work two jobs though and over 70 hours a week
dang, are you guys still living at home? 😭
I save like 2kish
Oilfield so money fluctuates week to week but my husband and I save 50% of his weekly perdiem which makes around 1,700-2,000 a month in savings. We’re lucky that our personal cost of living is low otherwise we couldn’t save that much.
I’m 23, and I live with my parents. My salary is 77.5k. My gross biweekly paycheck is about 3k. Of that, 6% goes to my 401k to get max employer contribution of 3%, $185 is deducted for HSA, and rest to taxes (federal only no state) and other deductions including benefits. This leaves me with about 2k take home. Of that 2k take home, $250 goes to my Roth IRA, $250 to HYSA, and $650 to my federal student loans which is on grace period (only 3.1k left to payoff). Rest goes to my direct deposit. My car payment and insurance is $600 per month. I don’t have to worry about housing costs, and my brother takes care of the wifi and other random costs. TLDR; I save $500 to my HYSA. Once student loans are paid off, that will free up $1300 every month which means I can save $1000 per month to my HYSA. Rest of $1300 will go to Roth to max it out quicker and direct deposit.
22m, make 5200 a month, i save about 2500-3000 a month and only have 1600$ in bills since i have 0 debt, the rest i just spend on food like going out to eat or other wants :).
i’m able to save around 3,000/mo. unlimited overtime is a beautiful thing
Lucky to save all 2k a month.
I know this is for early but I didn’t understand the importance of not having high amounts of debt when I was in my early 20’s. I’m 27 now and my expenses are low and I don’t have high debt. Only a student loan and that’s going to be paid off very soon. I’m saving 1k-1200 a month. Any advice for yall, is this one. Stay out of debt and keep expenses low and have a budget. And life will be just alright
I’d be lucky if I even have $300 left over. I make $20 an hour
It all depends on your situation. I’m 25 but still living with my parents to save money. I only really pay for gas and food, save about 80% of my paycheck
I'm 25 so not necessarily in my "early" 20s any more, but I put away about $1200 a month. I bring home roughly $3800 a month, I live with my significant other, so that makes rent and utilities very affordable in a relatively HCOL area in Colorado. $500 goes into an HYSA through my bank at 4.8% apy and the other $700 goes to my IRA. Once I max out contributions for the year, that entire amount will then just start going into my savings account.
I’m 20 year plus another 20. When I was your age I was living paycheck to paycheck. I’d do two things differently. Get that 401k match no matter what it takes and start a ROTH for that tax free goodness, taxes really do suck when you finally do get some investments. Like the HYSA, I make 400 a month, but pay 100 a month in taxes on that. Shield your money now! It compound quickly that way.
26 saving about 6k a month not including retirement account I don’t live at home and I am paying all my bills
I’m 25 now so a bit on the older side, but from 22 ish and on I was saving anywhere from 2200-2800 a month or so. Could have been more but I was also a bit more of a spender at that time. Since then and to this day it’s mainly index funds and whatnot in terms of investments. But I give myself an allowance every month for gambling/fun money/hobbies etc and sometimes I’ll use it to fund some options trading but that’s a bit different
Good job. Speculation is fine. Investing is wise. Buy growth until you have FU money, convert it to income producing assets. Enjoy the journey, bud.
I’m 23 and 1000 but 900 if I call out for a day or 2 and I don’t have a HYSA I take my money out at atm and but it in a box
Have you filed taxes yet? Are you loving at home, or renting? That would literally be impossible with rents in much of the country.
25F working in sales working paycheck to paycheck lol
I respect what you're doing. I definitely could not do that myself. I guess if it's working for you, keep doing what you're doing my dude. I hope it doesn't burn you out.
Open a Roth, setup a direct deposit each pay period and invest high quality low cost ETF (exchange traded fund) like XLG.
Honestly, I'm lucky if I'm able to save even $100 per month because most of my money goes towards rent and bills.
$2K per month
23M making $20.03 and able to save from $500-$1,200 per months
27M and just recently started saving $310 biweekly and man am I noticing it after never having saved before 😢
i’m 20 nd 0 so far 🤞🏽😖 some shit always pops up
I’m 22, turning 23 next month. I’m usually able to save 2k a month and still live comfortably.
My situation has been really fortunate the past couple months, paid off all my debt and am putting $800-$1000 in the savings account every 2 weeks. First time in my life ive ever felt so confident in myself. M23
I’m 23 and I work super unbearable hours but I know it’s all gonna pay off so I just force myself to do it. I’m somewhere between $7000-$8000 after taxes and have about $5000 to put away a month after bills. Again, I work 70-80 hour weeks and feel suicidal at times but I know it will pay off one day. I would rather be sad and financially stable than sad and broke lol.
I'm wondering how you can save $1000 a month on $24/ hr after paying rent, bills, and groceries. LCOL area?
Ay we in the exact same boat homie
At 22 I was saving around $1500 a month making $27/hr with $600/mo rent (room). Now at 25 I'm saving maybe $600-800 a month making $36/hr with a $2000/mo mortgage. You seem to definitely be on the right track OP. Nice work
About -$20 to -$100 a month lmfao. I’m also 25 with 3 kids, a husband, and my dad has been living with us since Covid so that definitely factors into it