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How much should a normal 20yr old have saved?

251 replies

shanease134 · 12/10/2020 15:40

Just a curious question. I have never had a PROPER job just done a few bits there and now but always managed to save what I've made.

The question is, what should the normal 18-20yr old have saved with no parental help?

OP posts:
letsmaketea · 13/10/2020 11:22

I did not have 20k saved by the age of 20 and I've always been very careful with money. After moving to university at 18, I use the government living grant to pay the rent in halls/private rented accommodation. The grant was about £3000 per year and the rent was about £2800 per year so if I wanted to eat, pay bills etc I had to work - part time during term time, and full time over the summer. In summer I usually managed to save approx £2500 from wages from full time temp jobs, but then I had to use that to live off during term time. Not having 20k of savings when I graduated was not due to poor work ethic or being bad with money.

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