How much is extra money?

@sktekweb (277)
India
November 14, 2008 12:32pm CST
I save $200 per month.Should I earn extra money?
3 responses
14 Nov 08
Saving any money at all is a bit of an achievement these days. More money is always useful of course, so I don't see any reason not to earn more if you're able to. Just don't knock yourself out overworking!
• United States
14 Nov 08
Well it depends on exactly what you are saving the money for. If you are saving it towards retirement, and do now already have a 401k or retirement plan set up at work, and I see you are 28 according to your profile...let's pretend you are going to retire when you turn 65..then you will have saved $384000 not including interest for your retirement. If this is what the kind of money you are looking to have for when you are retired, then I say no you do not need to earn extra money. . . if you are looking to have more than yes earn extra money. On the other hand if you are looking to have use this for a major purchase in the near future, then you need to sit down and determine exactly what how much a down payment you want, or if you want to pay it all at one time. Like I said it really depends on what you want to do with the money. If I could save even $20/month right now I would be happy lol
@ajay043 (779)
• India
14 Nov 08
Do u save $200 or earn extra in the internet... if you are earning extra in the internet then plz let me know i am in urgent need of money