How much money did you save after your first year out of college?

Question

I graduated May of 2007 and have been living at home and working full time since. I make about $40k a year and don't have much debt. I saved about 15k in the first year. Is this good? One of my friends claimed to have saved way more, but I feel like I have been saving really well. I was just curious to see where I stand with other college grads. I am 23 years old.

Answer 1

Sounds like you are doing good. You deserve a pat on the back! Most people don't save their first year out of school and most have massive amounts of debt. I have not graduated yet but I will be in that crowd I am afraid. Those student loans keep adding up. I am avoiding all other forms of debt (except a mortgage) so maybe I can do a little saving.

Answer 2

I'm not out of college but that seems like a pretty substantial amount. It's more than 1/3 of your income but living at home helps. Many recent graduates have very little savings and are just trying to pay off loans.