Post # 1
I’m a student and things are kind of tough right now. Between paying all my bills and providing everything my daughter needs, it’s been really hard for me to save. I literally have a little less than $1000 in my savings account and I feel like my life is headed towards the shitter already. I’m curious to know how much other bees have saved?
Post # 3
I work in a restaurant as a hostess/cashier, and part of my pay is tips at the end of the night from the wait staff. I generally hang onto my tips, and every so often put some into savings and some for spending, but I hope someday to have a job to where I can comfortably put part of my paycheck into a savings.
If I lost my job today? I’d be okay savings wise for maybe 3 or 4 months (I don’t spend my small tax refunds) to pay the bills and buy groceries, but I hope to not have any medical emergency in the near future.
Post # 4
our student loan payments are almost $700 a month combined – we have very little in savings. I get paid mileage at work when I have to drive around delivering stuff and it more than covers gas – as much as possible that goes in a seperate account to cover maintenance and repairs but other than that we got nothin
Post # 5
@Ninteenthchance: We have a good sum saved, but that is all for the wedding and honeymoon. It has been hard to save for that because my fiance was in credit card debt (we are almost out of that finally now, yay!) and i have massive student loans which i unfortunately had to defer until after the wedding. Hopefully after the wedding I can start paying back my loans and putting savings towards the rest of our lives.
Post # 6
We have a decent amount saved but we both have a very good salary for being recent graduates. Right now we’re working on building an account that will cover six months of necesseties if we were both to lose our job at the same time.
However, don’t let these answers get you down! Do what you can right now. I didn’t save at all when I was in school. Everything I saved was just dumped into tuition during the next semester.
Post # 7
We have a decent amount saved between retirement accounts and saving for a down payment on a house. Keep in mind however, that houses here are pretty darn close to $1M, so the almost $100,000 we have saved for that, is barely a 20% down payment… so sad…
Post # 8
We have a bunch saved, but we are going to be buying a house soon so that’ll mostly go towards a down payment
Post # 9
I selected 10,000+, but it’s all gonna be gone in a few weeks after the wedding. T_T.
Post # 10
At the moment, we have about $31,000 saved between savings accounts and retirement. $22k in savings, $8k in my retirement, $1k in FI’s (he just started).
I have been building up the savings account (on my own) for the past 3 years. We are spending $9k on the wedding and $3k on the honeymoon. So after the wedding/honeymoon, we will have about $10k left in savings.
We are going to get aggressive in our savings strategy in September and aim to save up to $50k within the next three years for a house down payment.
We also pay about $900 between the two us for student loans….ugh I cannot wait until they are paid off!!!!
Post # 11
About $100,000. But we are in our mid 30’s. We have nearly paid off our VERY humble home and have no car, student or credit debt remaining.
Post # 12
After the wedding and preparation to move, our savings is wiped out to a few thousand (not counting retirement accounts). However, we can live off Mr.’s salary, so half of mine will go to paying off my massive amount of student loans, with the other half going into savings.
Post # 13
I have been saving for about 5 years and have $10k, however this year all my normal savings have been going to the wedding and I have put near $7k towards that. FI also has another $10k in savings. We really want a house soon so we have been working at that goal.
Post # 14
- Wedding: June 2014 - British Columbia
I’ve learnt to live lean as I don’t see much $ when a pre-determined amount gets auto-debited biweekly to a tax-free savings account. (Awesome way to save up, by the way, if you’re in Canada. What you take out in one year; you can add the same amount back the next year. Just make sure not to over-contribute as there are tax penalties.) 75% of my budget goes to bills, groceries, gas, insurance and mortgage. I rarely have got any room for discretionary spending. At the end of the day, maybe I’ll have less than $100 per month for personal spending.
Often, I forget that I have cash locked up in GICs… until they mature, lol. Interest rates are so low that saving is tough, compared to interest rates my mother received in the 80s. If I’m really strapped for wedding funds, I’ll sell my mutual funds, which never seemed to recover since 2008. (Still 1k in the hole, which isn’t too bad — but the fees really claw into any profits/benefits of holding a mutual fund.)
Post # 15
I have about 25k but I owe 17k in student loans and a little over 2k on my car…plus I still have to buy my SO’s e-ring which I’ve budgeted about 1k for (since we already have the stone)…so basically I have 5k. I’m probably not going to use a lump sum to pay off my student loans though. My interest rate is only 3.4% on most of them (the ones that are 4.5% I will pay off as soon as I graduate). I’m paying off my car in the next couple of months.
My SO has a like 28-32k depending on the month. If everything goes according to plan (BIG “IF”), we should save around 20k in the next year combined.
Post # 16
@HappinessIsInDaisies: You and I are in the exact same boat. This is pretty much my life exactly.