At 24 years old, how much did you have in the bank. Were you getting by with each paycheck or were you consitently putting money away. I'm well aware that I will get plenty of non-serious responses, but some legitimate ones would be appreciated as well.

Around 600 in red font

Shawty what u drank

made me think of this.

I'm 24 and I spend every paycheck and max out every credit card.

/YOLO

When I was 24, my net worth was about -$45,000 and I was receiving no paycheck. I had about $1,000 in my bank account and zero in savings. You're probably doing fine.

It's just good to get a feel for where other people were at financially at this same age.

quote:

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When I was 24, my net worth was about -$45,000 and I was receiving no paycheck. I had about $1,000 in my bank account and zero in savings. You're probably doing fine.

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something similar to this when i was 24... still fairly similar now.

was just out of law school at 24. 38,000 in student debt.

32 now. about 700k in the green. dont sweat it, you have plenty of time.

Same now as 24, I put about $250 retirement and $100 in savings per month.

Well obtaining your law degree no doubt helped you get to where you are now at only 32. I've got my CPA, but still it sounds like you are doing pretty well for yourself.

I'll be 24 in two years and I'll probably have zero dollars.

I'm 24. I'd rather not get into exact numbers, but my net worth is comfortably positive. Scholarships, job during college, and thrifty habits were big factors to reaching this point, as I haven't had a lot of time for my salary to pile up.

[This message has been edited by Ulrich (edited 7/2/2012 2:22p).]

Ulrich:

Do you have a set % you put in savings each month and retirement?

Only my 401(k) contributions. I periodically put money in my Roth IRA, but other than that I rely on controlling spending and save whatever is left.

That works because my cash flow is good and I'm not an impulse buyer. A lot of people have a personality or income level that requires a savings-first approach.

[This message has been edited by Ulrich (edited 7/2/2012 2:30p).]

8% mine + 7% company into retirement. Savings has been up and down depending on personal travel and other things.

26
105K nw
~23% into retirement

not trying to brag, just giving a data point.

also, money in "da bank" with todays interest rates isn't exactly the smartest thing in the world if you don't need the money at the drop of a hat.

Saving is for people who procrastinate about dying. Cant take it with you so spend it.

Just turned 24 in May.

I was blessed with parents who paid for my undergrad so I am comfortably in the black. My company does a 6% Roth match so I currently do 7%, increasing 1% annually.

Also put about 25% of my paycheck after taxes and deductions into savings.

at 24 I was comfortable in my finances, had a steady job, put a decent amount back into my retirement fund, no huge debt other than a car note, and bought a house since the gov was giving out the first time buyer tax credit.

I was starting my new job as a teacher and had zero because I had lived off of what I had saved from Real Estate for about six months while I was job searching. That first paycheck that came in at 3500 was nice. Then when someone reminded me that as long as I did my job I'd get one like that or bigger that for the rest of my working life I was sold. When the wells came in and the trust was set up I bought a bunch of new guns and my jeep, building the savings account up again for for my next big splurge item.

Ibthisturnsintoateachertrollthread

Currently 24, living off less than my salary and putting away everything my wife makes. Undergrad and grad school were compeltely paid for, so when I was in grad school we lived off my stipend and again saved my wifes income. About to put 20% down on a house, but will still have a fair amount in savings and investments. Will start contributing to 401K when eligible with my new job.

Ditto the comment about living modestly. Several of my friends decided to purchase a new car upon graduating, and are now floored that we can afford a house so young. Pick your priorities, live as inexpensively as possible (not cheap mind you, enjoy life), and put away what you can.

[This message has been edited by mneisch (edited 7/2/2012 4:14p).]

I purchased a new car 15 months ago, and it will be paid off by the end of this summer. I won't start thinking about houses until I've lived a few months without the car payment, but I project that I could do a very nice down payment without any stress or habit changes in about two years if my salary stays the same. Single income and graduating about $3K in the hole has me off the super-fast timeline.

[This message has been edited by Ulrich (edited 7/2/2012 4:56p).]