[SBA]

How much money does the average 20-22 year old have in the bank?

[N0help4u]

The average? Probably Nothing to a few hundred dollars maybe more if he has a great job or rich parents.

[Trandy]

I'm thinking, and I don't have any facts, just thoughts that with college just out of their way, most people that age are thankful to have a job that pays their bills, and student loans!

[twinkiedooter]

Probably enough to pay the rent, phone, internet, cell phone, cable, and buy some groceries and not a red cent more.

[Fr_Chuck]

First there is not a averge 22 year old, some are still in college, others are working and married with 3 kids.

But on average most people don't have any money beyond a week or so earnings and that is normally owed to someone.

[SBA]

How much does the average worker (20-22 years old) have in the bank ?

How much does the average student (20-22 years old) have in the bank ?

[ChihuahuaMomma]

Well, I'm 22 and I work two jobs, and it really depends on what day of the month you are asking me. If it's after ALL bills are paid there's enough in there for food for the month.

[ISneezeFunny]

The posts above are right... there really is no "average" 20 - 22 year old.

I'm a recent college grad...

But take my friends for instance... working in investment banking firms in ny...

They make about 170k a year.

Then take my friends in med school, law school, and grad school... they're mostly in about $110k in debt.

Then take my friends that have average jobs... they make about 70k a year...

It really depends on the person.

[ChihuahuaMomma]

What average job makes 70k a year? I want to live where you live!!

[ISneezeFunny]

Lol, most of my friends are junior analysts at a few consulting firms.

... and then there's the rest of us med school jerks... 110k in debt. :(

[ChihuahuaMomma]

LOL... aww...

[laralara]

How much money does the average 20-22 year old have in the bank?

Your question should be " in how much debt is the average 20-22 yrs old" lol

[snode001]

The only thing I can do is answer for myself. I am a recent college graduate, 22 yrs old, live in Southern California. I have about $900 in checking right now, about $1000 in savings. I'm just starting to build my savings.. I WILL NOT touch the money in that account! I put 15% of my paycheck every 2 weeks into savings. My checking fluctuates depending on time of the month- more $ if closer to after I got my paycheck, less if further from the day I got paid. I work 40 hrs a week for $22,000 a year at a non-profit art museum. A measley wage, but I have to pay my dues and work my way up. Which I shall!

Expendiatures:
I have about $11,000 in loans that I am personally responsible for (There is more money in loans, but my parents are helping!) I'm really lucky, actually spoiled, but I'm gracious as well. I live at home with my parents (for now), which cuts about a $700 rent expendiature off my budget (if I share an apt.), since I don't have to pay for my room/utilities. My parents pay for my cell phone bill (we're on the family plan) and they pay for my car insurance. I pay for gas- about $100 a month, food- about $100 (eating out at restaurants, grabbing food during my lunch break), about $130 a month toward my loan payment (more if I have it in my budget!), about $115 on entertainment (movies, concerts, various activities like kayak rentals, nightclubs, museum), and around $200 for other costs (personal items, art supplies, clothes, gifts - there's almost always a birthday!).

I think I'm probably about average, but I definitely have the goal of honing my spending and expanding my savings. I eventually want to be financially independent, taking care of my own bills and living on my own (meaning not with my parents, but most likely with roommates to cut costs).