How much money did you save each month when you were 25?

[bignateyk]

The key to financial freedom at a young age is to become a DINK for 2 or 3 years while living off less than 1 salary and saving the other.

 

[soulcougher73]

Im 37 now and only save 7% into my companies 401k and company puts in 3%. So 10% total. I need to do more. I need to get on that.

 

[ViviTheMage]

Super scheme what?

I don't understand how someone so young can already have a house...

I owned my condo at age 21? Back then (3 years ago) they were giving us money to buy a house/condo/townhouse at the time. The city gave us $20,000 as long as we live here for 5 years.

 

[chusteczka]

At 25, I was just starting classes at a community college after six years in the navy. While in the navy, I saved $2k each year and put it into a mutual fund in a IRA for a total of $8k. That $8k grew to $32k during my fifth year of school but then the market dropped and I pulled it out of the mutual fund at $24k.

 

[Bateluer]

I'm going to guess that at least 2/3rds of the people in this thread are lying. 1400 a week at 23, really? If you're going to lie, at least pick a believable lie.

 

[bignateyk]

I'm going to guess that at least 2/3rds of the people in this thread are lying. 1400 a week at 23, really? If you're going to lie, at least pick a believable lie.

There's a difference between $1400 per week and $1400 per month.

 

[roguerower]

I'm 23. Right now I put 10% into my companies 401k and they give me an additional 4% in matching. I haven't started a separate savings plan but will probably start that up in about a year or so.

I live alone, pay around $750/mo for rent, tack on $250 for utilities/bills. On top of that there's school loans & a new motorcycle loan. On my old MC loan I was trying to pay it off as quickly as possible so I was dumping in $500+/mo into that and that can now go into a savings account of some kind.

I'm still in that spending phase since I'm a new grad and can finally get some toys of my own. I won't stop moving for another 6-7 years, most likely once a year, so there's no reason in buying a piece of property at a job location. I might be interested in buying something back in my college town for future purposes but that'll be another year or so.

EDIT: I have NO credit card debt. I only have 1 real card (USAA Visa) and 1 store card (Best Buy that I got to help pay for my Pioneer plasma) and both balances are kept at $0.00, the Best Buy card permanently. I use the USAA credit card only when needed and pay it off immediately. It serves as an emergency source of funding.

 

[OutHouse]

at 25, none. i was a E-5 making about 1700 a month with wife and 2 kids.

 

[OutHouse]

I owned my condo at age 21? Back then (3 years ago) they were giving us money to buy a house/condo/townhouse at the time. The city gave us $20,000 as long as we live here for 5 years.

wtf???

 

[CRXican]

the solution

leave CA

 

[dpodblood]

I'm 24 now, and currently not saving anything, as I am working on paying down some debt. In a couple of months though that debt will be gone (man that's gonna feel good) and I will be putting away minimum $500/mo to go towards a down payment on a house. Currently live in an apartment with my GF, and my half of food, and expenses is about $1200/mo.

 

[RockinZ28]

At 25 was unemployed most of the year. Had pretty much nothing and broke.

27 now, been working at the same place about 20 months. Bought all the toys/possessions I wanted.

From here out signing up for 5% 401k, company will match 4%. Then saving 1k+/month for a house downpayment. Hopefully have around 30k by the end of the year with what I already have, and my gf doing the same.

 

[Don Vito Corleone]

I saved nothing when I was 25 - I was in grad school.

 

[Gibson486]

wtf???

SOme cities give people grants towards a down payment to move into their city. For the longest time Cambridge, MA did this to people who made under 60K a year. Now that the economy sucks, they stopped it, however.

 

[BurnItDwn]

At 25, I think I saved about 200-300 per month...

 

[nickbits]

2000ish

 

[MiniDoom]

negative 10,000 and some... my twenties sure were fun.

 

[InflatableBuddha]

When I was 25...nothing, because I was blowing my cash backpacking across Europe.

Currently I'm 27 and saving $600/month.

 

[razor2025]

Just turned 25 few month ago. Started my first "real" job about half a year ago.
I have about negative net saving for past 3 month, all due to spending like crazy over Christmas and buying things for my new car. Have a bit of money saved up from my internships and side-jobs. Probably enough for a down payment to a start house in my area. No loans or debts (woot HOPE).

About $3300/mo net pay after my 6% 401k contribution (max of matching), health, life.

- $120/mo for cell for 4 lines, for my parents and sis
- $400/mo for "rent" to my parents (living at home)
- $100/mo for car insurance (beater + WRX)
- $250/mo for gas (used to be $150 with just the beater)
- $30/mo for cable internet
- $450/ mo for my graduate school (~$1500/ semester for 3 credit hours)

About $2k/mo I can spend or save. I usually buy random stuff for my parents and sis helping around the house. I should be easily saving $1500/mo with some discipline. Buying a house scares me right now, so I might just keep saving the money for shits and giggles.

 

[Fritzo]

None. I was just finishing up college.

LOL, this. I've never met a 25 year old that saves money, they're usually spending it on booze, girlfriends, and impractical cars at that age

 

[roguerower]

Kinda tying into my other thread about what you do recreationally, are you "younger" people like myself (sub-28, w/ or w/o a SO, no kids) spending some money on toys and stuff for present day use and saving w/e is left over, or are you saving it all for when you retire? In other words, are you actually living your life to the fullest or are you saving everything in the hope that one day you'll be able to spend it?

 

[insect9]

I'm 26 now and just started college again after working full time for a while. I was saving 10%. Now, it's down to 5%.

 

[Brainonska511]

Kinda tying into my other thread about what you do recreationally, are you "younger" people like myself (sub-28, w/ or w/o a SO, no kids) spending some money on toys and stuff for present day use and saving w/e is left over, or are you saving it all for when you retire? In other words, are you actually living your life to the fullest or are you saving everything in the hope that one day you'll be able to spend it?

Saving a little for retirement, saving a little for future toys, saving a little for future whatever that's pre-retirement, spending a little now to enjoy myself.

Edit:
As far as toys go, I don't really see anything I want in the future, as I'm pretty content with what I already have.

 

[Vic Vega]

How much money did you save each month when you were 25?

About $900 a month back then. Glad I did, too.

 

[wheresmybacon]

I didn't save anything when I was 25. I didn't make enough to save anything.