$7,000 in savings good for a 21-year-old student?
Hi everyone,
I’m 21 years old, currently a university student, and I still live at home with my family. I’ve been working part-time for about 3 years and have saved around
7k, all of which I’ve earned myself through work.
My tuition has mostly been covered through RESP funds, but I’ll likely be starting to take out student loans soon as those funds run out.
Since I live at home, I don’t have rent expenses, but I do pay for things like transportation, school-related costs, food when I’m out, and other personal expenses.
I’m wondering how my savings compare to others my age. Is $7,000 considered a good amount for a 21 yr old student to have saved, average, or am I behind?
I’d love to hear How much you had saved at 21 if you’re comfortable sharing.