How can I start saving for a house?

I am 19 and currently only make $23,000 a year. I have a savings account that I put money into, but I feel like I should have a separate savings account for a house? $25 gets taken out of every check and goes into a Christmas club account. Should I open another account like that?

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Best Answer

At $25 per week, you'll have enough to buy a house in about 100 years.

The best thing you can do right now is work on increasing your salary. Work hard, take classes, get involved in other aspects of your business, until you are qualified for a higher-paying position.

Answers

Christmas club? what are u a 70 yr old woman?

Get a second job, or get a better job. GET SKILLS. Or just be extremely frugal and live with your parents for 10 years.

Open a mutual fund account and have as much as you can afford drafted into it monthly.

Not more than four beers and three joints per week. The girlfriend goes Dutch. Problem solved!

I’m 22 years old I wanna know how you’re making a whole lot more than meif you don’t mind asking and I would probably just pull it out into another account i

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Minimize your spending. Try to advance your career. Sock away as much money as possible.

You just save the money...whether you have separate accounts is your call...but you can still easily transfer money between them.You need to make the commitment to saving money...

Whatever works for you

Sounds like a good idea. Check on savings products offered by different providers to make sure you get the best mix of security and return on investment.