How much money should a 17 year old have?

Question

im 17 years old and i have a part time job. right now i have about 2,500 in the bank. i would have a lot more but i buy everything on my own like clothes, when i want something to eat i buy it, and i have a big family so i have to spend a lot on presents. i bought a car for 2,000 about a year ago and i pay about 30 dollars a week in gas, i also bought this nice computer for 500. i cut out my expenses by not going to dunkin donuts everyday and spending money instead i make my coffee at home. my question is i dont understand how other people at my work that are my age have no money. they use their parents cars and dont pay for gas and they all have no money. am i a good saver at this age?

Answer 1

they probably spend it on booze, and drugs and little things.

but you definately should have not put what you have in your bank online.

Answer 2

no idea.

Answer 3

yes you are, youre excellent...might even enjoy investing rather than just saving.

Answer 4

Wow you are a very responsible person. You sound like a 25-30 year old to me. It's good that you're doing this all by yourself. It's not a bad thing at all. You shouldn't worry about it.

Answer 5

sounds like you are in good shape.  A lot of times people will just say they have no money jokingly but really do.  Dont worry about them though.  Do your own thing.  It will be beneficial later on in life

Answer 6

17 and bought your own car, clothes, food and present for your family.

You have 2500 in bank .

You are doing great . set yourself a budget and stick to it you can be well off by 20's

Answer 7

They probably waste a lot of their money.  Others are lying--they don't count their savings accounts as 'money' so they can claim to have no money and get their friends to pay.  Alcohol, drugs, and shopping for toys and clothes you don't need will suck up your budget in no time.  If these people eat out every day, they probably spend an hour's pay to do it.  Expenses add up when you spend without being smart about it.  

Answer 8

The reason why some of people don’t have enough money to save or even to spend is because:

1) Mortgage payment.

2) Family to take care of. Some people have a lot of children or just a big family. (I grew up with 5 brother and sisters, and it’s hard for my family to save money, when all the money goes to our education funds.)

3) Cars payment. Some people bought really expensive cars, and they pay more than $300.00 a month. Depending on what type of car they bought.

4) Education! Nowadays, it’s so hard to send kids to college, especially when the price is so freaking high. That’s why parents are saving their money for their kid’s education.

5) Just because you save a lot of money, doesn’t mean people who can’t save are losers. They’re probably working their butt off just to make enough money to pay the bills, rent and etc.

Answer 9

You have discovered a great truth.  Money does not solve money problems--management does.  Good for you!!!  AND, most importantly, go ahead and feel superior to those who are always out of money!!  

Answer 10

   Son,  your parents are to be greatly praised. Even if they are not responsible for your exemplery mastery over the  big 'monster' called money. You have mastered the art of  money management  at this young age and in answer to  your question.  My answer is you can have all the money you can, and you will be fine with it. My million dollar question to you is why such a hard working and prudent person like you should be working at 17 instead of being a top class student in a top class College or University. I tell you something Schools are hopeless in not teaching young people the things  about money, a commodity that we use even after death. How to earn and how to save and spend are topics hopelessly lacking in  our education.  

Answer 11

yes its good that you save your money the other kids prolly just go and p**s away there money