I’m young. 19. Currently making about $1,600 USD a month. I have always had a job (or two) since I was 12 years old. Not sure how much I have saved honestly…it’s secure in the bank but I don’t check on it often.
Haven’t saved very much the past year or so, but my plan for 2019 is to save 50% of everything I earn (not feasible for everyone, I know that, but it works for me right now); give 30% to my mom as “rent” money (she hasn’t asked for this, but I’m an “adult,” living in her house, eating her food, using her utilities, etc. so I want to help her out); tithe 10%; and use the other 10% as my pocket money - eating out, new clothes, etc.
I don’t have a car or a cell phone, so I don’t really have much monthly payments I need to make, besides $120 a month (total) for the 4 children living in various third world countries that I sponsor through Compassion International.
I took this year off from school, and will start college next fall (August 2019). I will not have to pay anything, for my bachelors or masters. I’ve already received enough scholarships that I actually anticipate receiving some extra money that I can just use on a car or computer or something else that’s “for school.” Not sure yet if I plan to go on to further schooling (chiropractic school) but that’ll probably be at least partly paid for, if not entirely.
Anyway, sorry for all that, but I figured it may be helpful to know my background. As a young person just starting out in life, what are people’s recommendations? Begin learning how to invest or anything? Vague question, I know, but I’m curious to hear people’s answers.
Hope this isn’t too different from the original question.