Anonymous
Anonymous asked in Business & FinancePersonal Finance · 5 months ago

If I make 700$ per month how much should I save and spend? (see description)?

If I make about $700 per month from my part time job and have 136$ worth of bills each month, how much $ is appropriate for spending money and then how much should I save?

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  • Judy
    Lv 7
    5 months ago

    how old are you?

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  • 5 months ago

    Save half for long term, $150 short term (purchases expected within a year: clothes, prom, car repairs,,,) = $64 for fun stuff

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  • 5 months ago

    You live at home with your parents? You need to save $400-500/month toward your future expenses (college, job training, car, etc.). If you take buses to work, that $60+ is enough for busfare. Or buy replacement underwear if you have to buy some of your own clothes. Or go out with friends once or twice a month (or a "movie & popcorn" date).

    You're obviously very young. You have H-u-g-e upcoming expenses as you enter adulthood. Save-save-save... and then save some more!

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  • edward
    Lv 7
    5 months ago

    How old are you? I had a job starting at 16 around $30,000 a year i did a 50/30/20 split. 50 percent for things i need, 30% for things i want and 20% to save. Anything left over when next pay day comes from the 50% is put away in savings.

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  • 5 months ago

    As much as you can. I'd be putting away at least 400 of that every month.

    Source(s): nothing
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  • .
    Lv 7
    5 months ago

    If you're a high school student, you should save all of it for college.

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