How much should an 18 year old have saved?

How much should an 18 year old have saved?

Of “young millennials” — which GOBankingRates defines as those between 18 and 24 years old — 67 percent have less than $1,000 in their savings accounts and 46 percent have $0.

What can I do with my money at 16?

Generally, people are looking to spend under $10,000 on first cars for teens. New cars can be pretty expensive, but for a teenager you don't need to break the bank to get a good first car. Once you decide on your budget, you can narrow down the makes and models that you and your teenager are most interested in.

How much of my paycheck should I save as a teenager?

Just as you need to plan your bills, you should also plan your future. spend on a cash basis only. Pay yourself first. Always save 10 to 15 percent of each paycheck for your own retirement.