Saving money

How much money do you expect an 18 year old to have saved? Any saving tips? How much money should I save by the time I’m 21?

Reply 1

Bean_cat

Original post by Anonymous

How much money do you expect an 18 year old to have saved? Any saving tips? How much money should I save by the time I’m 21?

Usually around 2k, I like to look at average savings per age on different blog sites to make comparisons and things. Personally my savings are well above this despite being in that age bracket, because I choose to work alongside studying. I'm in uni at the moment and I've been working all year round including taking up internships in the holidays - I sound like a workaholic and whilst that can be negative and very tiring; it's led me to gain a lot of work experience alongside being able to save up. Even if you do start working, you don't need to save every wage per month, you can save half and use half or split it however you choose best; use a calculator to track how much you'd save.

I also try not to buy takeout and make my own meals instead, this is definitely something that's helped. It's also useful to remove any unnecessary subscriptions you may have and become an avid user of student discount sites like Unidays or studentbeans. I also try not to go for things that are too expensive when hanging out with friends, I would eat out occasionally but I won't make it a habit and try to make plans to visit places that aren't as costly as going to the cinema or bowling; they're not expensive things individually but costs do add up, especially if you're doing these things frequently. So instead I'd opt for going to museums or local parks - tbh I feel like better memories are made in places like this. I hope my advice helps! :smile:

Reply 2

-Eirlys-

Debate & Current Affairs Helper

Original post by Anonymous

How much money do you expect an 18 year old to have saved? Any saving tips? How much money should I save by the time I’m 21?

Hi. Your thread was posted in the Advice on Everyday Issues section, so I've moved your thread to a more appropriate place in the forums.

I wouldn't expect an 18 to have much saved but I think having 2-3k saved by 21 would be good. Any more would be really good.