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Student Savings

Hi Gail! Just wanted to say I'm a big fan of your show. The question I hope to have answered from you is: As a full time first year university student, I'm finding saving money very difficult. Currently, I am not working and living off of my family's handouts. I would like to stop this cycle and get a job of my own shortly. However, until that time I want to know if you have any tips on how to start saving for my future. With no student loans as of yet I would like to keep it that way - I definitely don't want to be paying off student loans until I'm 50! How much should I be setting aside anyway? Thanks for your time and once again congratulations on your show! I absolutely love it!            
Name withheld          

This one’s short and sweet: while I admire your initiative in terms of looking to the future, right now your number one goal should be to get out of the present without any debt – which you seem to be doing. Keep up the good work. As for savings, you should have an emergency fund (set aside $25 a week), but leave the rest until you’re out of school.

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