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
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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.
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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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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