How much do average graduates save every year?
Just curious about this. Not talking about our Wall Street bretherin, talking about the folks who graduate, make $55K, don't live in NYC etc.
Just curious about this. Not talking about our Wall Street bretherin, talking about the folks who graduate, make $55K, don't live in NYC etc.
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0-5k
Probably $0 since the average college student graduates with loans.
My recent graduate friends seem to average about $30-35K in expenses/year living around major hubs in Texas for what it's worth.
Depends on various factors. But I would find it hard to believe anyone who just graduated college (and has student loans), and is not living at home, saving more than 5Gs.
Mainly it depends on how much you are spending on housing and food/entertainment. If you live in your own 1 bed apt. in a big city, go out every weekend, eat out a lot, and travel often then most likely $0 or might even end up in credit card debt. However if you split an apartment with a college buddy and be frugal i think you can save 10k+ a year if you don't have any loans.
$0. average person in the states has cc debt of 5-10k.
Well that really says it all
minimal student loan debt (~10k), living at home with the parents and working in Big4 audit. i saved approx 20k each of my 2 years of working. this doesnt include my 401k contributions.
Brother you do not know how much in debt I am in
Hopefully 20k, taxes and rent eat up a good chunk and then also the purchase of my car. Including my 401k, I will have around 25k-27k saved up. From what I understand, the goal for anyone should be to save 30% of their salary each year.
Try to save 20k by living with the parents. Not cool, but cash is king these days.
A $55K salary is about ~37K-40K post tax.
If living at home, you should be able to save about half of that. If living alone or with a roommate, you should be able to save maybe a fifth of that.
the guys that live with parents save shit tons as % of salary
My take home was close to 70k and I live in a big city. I saved nothing outside of my 401k (about 4k and then got 4k in matching) and have a little credit card debt. I didn't budget correctly at first (think, 400 dollars a week in drinking alone for the first 6 months) and I have an apartment that stretches me too thin. I think i'm pretty normal in my city and among my friends. I should be able to get out of credit card debt with my spring bonus + tax return.
One of my new years resolutions is to be better with my money. That starts with me drinking less (though, my increasing alcoholism isn't helping that) and getting a roommate.
$400 a week on drinks!!!
http://global3.memecdn.com/drink-while-you-drink_c_153979.jpg
[quote=TeddyTheBear]$400 a week on drinks!!!
http://global3.memecdn.com/drink-while-you-drink_c_153979.jpg[/quote]
I lol'd. I was still drinking like I did in undergrad for awhile, just on big city tabs at expensive bars and lounges instead of pbr at the frat house. Think 10 to 15 jack and diet's three to four nights a week.
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