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Lai WanQi

03 Jan 2021

Saving Hacks

How much savings should a 21 year old uni student have?

Roughly how much liquid cash should a 21 year old uni student have? Would like to know so that i can set a target for how much to have by the end of the year

Discussion (3)

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No right no wrong, everyone has a different situation. Some born with silver spoon, some humble background. Just be contented with what u have and can make ends meet

Everyone’s situation is different so it is not an arbitrary number.

If you are looking to build up your savings or emergency fund, you can try 6 x your monthly expenses for a start and increase from there. However if you are a student, you may not have a steady income or have a lot of expenses.

If you have a goal to save for your loan payments by the time you graduate, you could target to save the amount or a portion of it per year.

Or if you don’t have any concerns for loans or expenses. You could try saving 50% of your allowance as a challenge.

It depends on what you want to achieve.

Randy

02 Jan 2021

Financial Analyst at

When I was 21, I relied only from my parents’ pocket money, and I only live for today.

So while I ...

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