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Would it be possible to save up about $19,000 in a little over year?

I babysit now, making about $100 a month, and i have $5,200 saved already. I’m getting an actual job in May and will probably be making minimum wage, $7.25. I’m planning to get a car with some (if not all) of the $5,200 and will have to pay for insurance and gas as well. so im wondering how likely it is that i’d be able to save up that amount by like summer 2014

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Answer #1

Depends how many hours you will be working and whehter or not you will be continuing babysitting. At minimum wage, to save up $19000, you’d need to make approximately $1583 per month, which is approxiamately $395 per week which then means you will need to work approximately 55 hours per week which then mean you will have to work about 8 hours per day. This does not seem likely at all since you are a high school student that goes to school. At 55 hours per week, that would be a full time job which I do not see a high school student being able to maintain.

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