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How much is in your bank account...?

$578.91 in my checking now that I paid off my credit card (Note: I never carry credit card debt, I just send bills to my credit card so I can pay them by month's end to get points/cash back).

I have $3,500 in savings.

I'm 23, just out of college, working a blah $35k/year salaried job last June. I've been on my own since freshman year of college, so had to personally pay for my rent/food/cell/expenses/now student loans for the past 4-5 years, so I think it's a good start. I'm also moving to a new living situation that will cut my monthly expenses in half, so win-win.
 
Money is just a tool. One thing I know, the more I have, the more I have to worry about losing. Would you like my birthday, address and social security number as well?:rolleyes:
 
Like most Americans, I am living paycheck to paycheck. I have enough in my account to pay my bills every month and about 70-100 for food each week, cheap food from the grocery store.

I'm near my upper 40s now so I know I am in bad shape for retirement if I live that long.
 
Best advice I can give is that if you have money "burning a hole in your pocket" put it in the bank or if you have no immediate need, invest it. Common wisdom is to keep 6 months worth of living expenses in cash and put at least 7% of your income away for retirement (yes, even if you are in your 20's). Last thing you want to do is blow your money on lifestyles you can only afford (or cannot afford) after you have taken care of the basics.
 
Less then what I want in there.

I wish I could have 6 months of my salary in the bank but I don't. I have some for emergencies but not much. :/
 
Well, yes, that's probably right if there's a lot of agriculture of vegetables in Sweden. ;)

If you can buy local freshly grown food, organic best of all, you should buy this even though it might be more expensive.

And eat them while they are fresh instead of boiling away the vitamins. :D
 
I have about 6 month's wages saved up. I don't pay for rent or anything major. I'm still kinda dependent on my parents. I live with them so no bills.

I do have some credit cards just to build some credits. I pay them off each month so nothing to worry about in the future.
 
I always keep at least $3000 in my savings account for emergencies (this has been a huge help several times) and I deposit 10-15% of my income each month into the account so that it keeps growing.

As for my checking account, it's usually close to $0.00 by my next paycheck :eek:. I like to spend money lol
 
About 3 months worth of mortgage and bills assuming nothing FUBAR happens during that time.

I use 2 different credit cards quite a bit but never carry a balance from month to month.

I put 10% of every paycheck into 401K and I pay extra on my mortgage each month so if I cut those back I would be getting a little more "cash" to play with each month.

I had about 6 months in the bank about 2 weeks ago but just did some serious landscaping around the house
 
talmy said:
Best advice I can give is that if you have money "burning a hole in your pocket" put it in the bank or if you have no immediate need, invest it. Common wisdom is to keep 6 months worth of living expenses in cash and put at least 7% of your income away for retirement (yes, even if you are in your 20's). Last thing you want to do is blow your money on lifestyles you can only afford (or cannot afford) after you have taken care of the basics.
Click to expand...

Pretty good advice. CD rates are pretty awful these days, but savings accounts through something like ING are pretty good, which is what I have. Unfortunately their interest rate varies, currently at 0.80% I believe, but at least I have near immediate access to my savings if I need it. Highest rate I had was something like 1.6% a couple years ago and was just great. Dwarfs most other bank options.
 
certainly not enough... i need to find a summer job. i wish the days when gas was 70c a gallon and movies were just a few dimes would come back. if you count student loans lumped in with my checking, i have less than nothing.
 
I pretty much live paycheque to paycheque. After bills and taxes I get about £1,500 to myself. I honestly don't know where that money goes as I have no home, no car and no girlfriend :D
 
Damn. All this talk makes me wonder if grad school is the right decision. Seems as if school is the main reason why many of us go into debt.
 
Everyone in here is broke, but everyone in the car thread is driving $50k cars.

I have had a massive amount of expenses over the past year, so I had half a year's salary saved up but it was just enough to cover all the massive expenses my wife and I had and enough to get us through a six month unemployment stint until I was able to land work here in the US. Since then, we had started saving a bit back up (though not as much as we'd like) but now my wife is in school so a whole lot more money is going right back out.

It kind of sucks, even though we have some savings, in the checkbook we are basically living paycheck to paycheck since the balance is zero every payday. I need to get to a point where we have $2k-$3k in checking alone and money in savings so that any incidentals/emergencies can be covered with the checking account, and only devastating emergencies necessitate ever touching savings. Not living paycheck to paycheck, but living with the same effect and it absolutely sucks.
 
puma1552 said:
Everyone in here is broke, but everyone in the car thread is driving $50k cars.
Click to expand...

I have never believed that half the people in that thread drive those cars much less own them. It's very easy to find photos and say that you own the cars in them.

Anyways, I've had to get a second job to make ends meet. I have some money in the account but it's not worth posting about.
 
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Top is my checking, bottom is my savings.

Living large with that minimum wage job. :eek:
 
puma1552 said:
Trust me, if you've ever had the *****tain on the existence of time known as TCF Bank, you'd know how great it feels to get them and every one of their tentacles tied to all your online accounts cut completely out of your life..
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YES I can so relate to this. Closing my TCF checking account felt unbelievably satisfying.

I have close to two years living expenses saved (considerably less if I were to include purchasing "off the shelf" insurance, however, since I live quite cheap :) ).

I own my car completely and have no debt as a renter.

My goal will be one year's salary five years after I graduate from graduate school finally (omg...).
 
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