First Job: How were you at saving money?

[Kalvin00]

1st job (part-time at subway)....didn't save much.

2nd job (currently working, full time at a bank, been there 3 months).... haven't saved much yet.

 

[JEDI]

Originally posted by: Twista
When did you really start saving money every paycheck. I asked some people and most said when they got there first job they really didn't save up like they do now.


How were you at saving money with your 1st job?

So, when you really start saving your money? 1st job? Or maybe your 2nd job?


Thanks.

first 2 years of my 1st job, i was maxxing out 401k, thus saving maybe $100/month.

really started saving in year 3 when i jumped ship and got a job w/25% more pay. then bought a house. expenses sky rocketed. back to $100/month savings.

 

[helpme]

First job, from Day 1:

Per Month
5% + 4% 401K
3% Company stock (discount)
35% Automatically to ING

Probably will be shifting more to the 401K soon, as I've built up my 6 month emergency fund now.

 

[Jawo]

First real job I set up 401k and its going good since! Its easy since you never really have the money so it won't temp you! Odd jobs around the neighborhood I would deposit it so I wouldn't spend it all.

 

[erub]

Originally posted by: JEDI

Originally posted by: Twista
When did you really start saving money every paycheck. I asked some people and most said when they got there first job they really didn't save up like they do now.


How were you at saving money with your 1st job?

So, when you really start saving your money? 1st job? Or maybe your 2nd job?


Thanks.

first 2 years of my 1st job, i was maxxing out 401k, thus saving maybe $100/month.

really started saving in year 3 when i jumped ship and got a job w/25% more pay. then bought a house. expenses sky rocketed. back to $100/month savings.

$100/month is not maxing out a 401k. 401k max is $15,000/year. Its really annoying when people claim that they are maxing out their 401k, when all they are doing is putting in enough to get the employer match.

 

[JEDI]

Originally posted by: erub

Originally posted by: JEDI

Originally posted by: Twista
When did you really start saving money every paycheck. I asked some people and most said when they got there first job they really didn't save up like they do now.


How were you at saving money with your 1st job?

So, when you really start saving your money? 1st job? Or maybe your 2nd job?


Thanks.

first 2 years of my 1st job, i was maxxing out 401k, thus saving maybe $100/month.

really started saving in year 3 when i jumped ship and got a job w/25% more pay. then bought a house. expenses sky rocketed. back to $100/month savings.

$100/month is not maxing out a 401k. 401k max is $15,000/year. Its really annoying when people claim that they are maxing out their 401k, when all they are doing is putting in enough to get the employer match.

hey dumbass.. after maxxing out 401k, i had $100 after expenses to put in my bank.

learn to read

 

[helpme]

Originally posted by: erub

Originally posted by: JEDI

Originally posted by: Twista
When did you really start saving money every paycheck. I asked some people and most said when they got there first job they really didn't save up like they do now.


How were you at saving money with your 1st job?

So, when you really start saving your money? 1st job? Or maybe your 2nd job?


Thanks.

first 2 years of my 1st job, i was maxxing out 401k, thus saving maybe $100/month.

really started saving in year 3 when i jumped ship and got a job w/25% more pay. then bought a house. expenses sky rocketed. back to $100/month savings.

$100/month is not maxing out a 401k. 401k max is $15,000/year. Its really annoying when people claim that they are maxing out their 401k, when all they are doing is putting in enough to get the employer match.

I think he may have meant he was maxing out his 401K, so he only had enough money left over after that to grow his bank account by 100$ after all regular living and fun expenses were paid.

 

[ballmode]

half my check

 

[Otaking]

I spent most of my paycheck on rent and tuition, so no, I could not save much. However, I'm glad to say I think did spend wisely though...

 

[Qacer]

I've been seriously trying to save. I did good last month by paying off the balance of one of my credit cards. Then, the Holidays come. That balance is back again. 🙁

I've actually been putting money on stocks and a high interest rate savings account. But then I noticed my credit card APR, and I think I'll do better if I pay off my credit card debts first before starting off my savings.

 

[rh71]

My first "real job" was like my 10th-15th job ever.. lost track... been saving for a while. I do like to splurge on occasion, rather than spend it in bits everyday/week.

 

[BurnItDwn]

I saved about 75% from my very first job. The savings didn't last long though, as I used it to purchase my first car.

Since then I've been saving only about 10%, though I have purchased a townhouse since then.

 

[OREOSpeedwagon]

at my job i worked for all 4 years of HS i ended up with about $1k saved.. pretty sad but I've got a lot of stuff to show for it 😛 at my first job out of college i'm going to save as much as possible so i can pay off my loans...

 

[I Saw OJ]

First real job was in highschool and I spent my entire first paycheck the day I got it 😛

 

[YOyoYOhowsDAjello]

Spent it all on my first CD player + Cd burner 😛

 

[AgaBoogaBoo]

You really need to plan out how much you have, how you can get more, etc. and don't necessarily just "save" it - invest it, even if it's just something as simple as a high yield savings account, that at least gives you a solid 5%, although there are other easy methods as well.

You need to figure out and establish where you are now, where you want to be in the future in terms of finances, and find a way to make it happen with a *logical* method. This doesn't mean working hard and not getting any sleep, but rather working smart. If you can figure out a plan so that you'll be better off in 4-5 years, a bank will very likely back that up, especially if it's for education - not to mention all the financial aids available.

If you just have extra cash, make sure you're investing it as much as possible into your 401k and such, and then just toss it into an account for something big in the future depending on where you're at now. This could be a house, condo, etc...