Q. I've saved $700 in the last 4 months. Is that a decent effort? I am on my own, so I have no one to share bills with. I am 17 so my wage isn't too high either.

A. Whether or not this is enough depends on a lot of circumstances and first of all on your financial goals. Are you or will you be attending college? Will you have to pay rent or mortgage? How much will you need in retirement? These and many other similar questions will help to determine exactly how much you need to save monthly in order to ensure that your financial goals are achieved on time.

You can use various financial calculators available online, but our FREE Personal Finance Analyzer is the best out there. If you run your numbers through it, you will get a comprehensive easy-to-understand report on what exactly you need to do to get where you want to be financially. How much to save, where and how to invest, how to repay debt faster, how much insurance you need, these and all other facets of your personal finance, all in precise numbers and graphs accompanied with explanations, and all in one FREE report. This will guide you in attaining financial independence as early as possible.

Good luck!

Moni.

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