for the young & single crowd

[patrick409]

in cash/mm? 1-2k.

much more in investments though, if i really needed it.

 

[platinumike]

I have $84 in savings. $485 in checkings. I have direct deposit to my checking acct. from my employer so my savings is usually dry. I thought i had a good ammount of money for financing a car, and being a student.

 

[middlehead]

I don't keep all that much in an actual savings account. Staggered CDs give a decent approximation of liquidity.

 

[OS]

Originally posted by: middlehead
I don't keep all that much in an actual savings account. Staggered CDs give a decent approximation of liquidity.

is it a good idea to tie up money in CDs when rates are rising?

 

[thomsbrain]

Originally posted by: bennylong

Originally posted by: spidey07
6 months. 32,000.

Your monthly expense is $6K??? How many hookers do you see a month??

seriously. if you're single and young, there's no reason you should come close to spending that much in a year, and that's in CA. but it's good you have that much, regardless of how long you'd go through it.

 

[thomsbrain]

Originally posted by: OS

Originally posted by: middlehead
I don't keep all that much in an actual savings account. Staggered CDs give a decent approximation of liquidity.

is it a good idea to tie up money in CDs when rates are rising?

no. my savings account has risen to rates that are higher than the CD's I was considering buying 6 months ago. I'm glad my money wasn't tied up in them.

 

[GoingUp]

$5000 in my ING account for emergancies.

Rest of savings is stocks and 401K, not to be touched.

 

[Black88GTA]

I try to keep at least $4k, but that hasn't been happening lately. Right now I'm at about $3,xxx cash in the bank, plus about $8,000 or so in investments that I'm not touching. Lots of money goes to rent and food - Long Island is expensive.

But... I'm VERY seriously considering taking out a ~10-12k car loan. For a used car that is horribly impractical, limited production, very uncommon, costs a fortune to insure and service, guzzles gas, and requires retardedly expensive parts when said service is needed . Hell, I've already got it picked out...just debating on pulling the trigger on the loan. I'm kind of tired of driving a beater, and the Trans Am is useless in the snow / rain.

 

[Fraggable]

none.

but then I'm paying my way through college and won't graduate with any loans, on top of buying my car.

 

[b0mbrman]

Originally posted by: OS

Originally posted by: middlehead
I don't keep all that much in an actual savings account. Staggered CDs give a decent approximation of liquidity.

is it a good idea to tie up money in CDs when rates are rising?

Well, as you and I don't know when they'll peak...and expectations that they'll increase further have already been built into the price...then I'd say it's not a bad idea..

[Edit] I try to do $1k + $10k in savings and semi-liquid fixed income and the rest in equity...Enough immediately to pay all my monthly bills, bail a friend out of prison, and so forth. Enough within a few days to take care of less immediate emergencies...

However, right now I'm sitting at $7k + $11k (not to mention $600 in cash :|) because I'm planning on making a big move or two in my portfolio in the near future

All that said, I have no idea how to answer your question...

 

[doze]

Originally posted by: tfinch2

Originally posted by: doze
28 single and living check to check

Any savings I had before/during college was gone after college and I had a 401K until a few months ago when unemployment forced me to cash it in

Ouch.

:beer: to better luck!

I might be broke but life is good. What's the point in saving now if you can't have fun? Didn't take me too long to find another job and I have a nice monthly bonus check coming on the 31st.

 

[spidey07]

Originally posted by: thomsbrain

Originally posted by: bennylong

Originally posted by: spidey07
6 months. 32,000.

Your monthly expense is $6K??? How many hookers do you see a month??

seriously. if you're single and young, there's no reason you should come close to spending that much in a year, and that's in CA. but it's good you have that much, regardless of how long you'd go through it.

dude.

6 months expense. 32K.

Meaning no matter what I could live for 6 months without touching any investment.

One shouldn't measure your savings in dollars, but time. That's what savings is for. Investments/portfolio is for growing wealth.

 

[middlehead]

Originally posted by: OS

Originally posted by: middlehead
I don't keep all that much in an actual savings account. Staggered CDs give a decent approximation of liquidity.

is it a good idea to tie up money in CDs when rates are rising?

That's the other reason for staggering the purchases. Buy a 3 or 6 month CD every month for 3 or 6 months and you can both take advantage of rising rates as well as having the approximated liquidity.

 

[middlehead]

Originally posted by: sniperruff
$1500? that lasts you like less than a month if you live by yourself. $1M ftw.

1500 would get me 2 months with a little left over for playtime or 2 months with a down payment on month 3.

 

[benliong]

i keep around $1300 in the bank, while paying for mortgage. It's rather expensive to live in Hong Kong. I'm 26

 

[keeleysam]

$273.76

That's in a savings account, but I have bonds and things too, as week as other investments.

 

[maddogchen]

i'm 26 and i got 45k in different types of savings.

 

[Lithium381]

75% of my earnings go to savings, soon to be dispersed among IRA accounts / CD's since my saving account only offrs . 4% interest

 

[hjo3]

About $2500 totally liquid (emergencies, etc.), then ~$3500 in stocks and mutual funds.

 

[Ryan]

I've only got about $1K in an Roth IRA, and 7K in my savings right now.

 

[Penth]

I have $10k in ING, $1k in my local credit union (so I can get it fast if I need to) and almost $20k in mutual funds. I'm 22.

 

[Zugzwang152]

$700 in savings. $2000 in credit card and other debt. DOH.

 

[jadinolf]

Originally posted by: huberm
For emergencies, etc.???

I only keep about $1500 in mine, but would like to add more if my idiotic self would quit buying gadgets and things I don't need.

Savings Plan

 

[Suspicious-Teach8788]

i literally have something like $100 in my savings account only, now I do have a fat@$$ savings with $70k that my parents give me for college, but that's sitting there only for tuition + rent.

so my BoA looks like this: ~$100 in savings, $46 in checking. $2000 is on the way for rent payments + credit card stuff + bills + survival for the next month or so. Should be getting my security deposit back from my old apartment, so hopefully that will work out nicely.