No.

Can you show me your answer?

If you noticed, there's is no 124 in the question. So you have miswritten 24 as 124.

Also, the second model is not drawn correctly, as it should be the same amount for both.



The correct approach will be to work backwards.

①
After Nick saves $84 and Michael spends $26, they will have the same amount of money. There is no difference in their amounts.

So if we reverse this event,

Nick's original amount of money is $84 less than now.

Michael's original amount is $26 more than now.

②
So this tells us that at first, the difference/gap between their amounts of $ is actually :

$26 + $84 = $110


③
Since Michael saves 3 times as much money as Nick at first,

Their difference is actually 2 times of Nick's amount at first.

Or,

We can see it as :

Michael has 3 units ⬛⬛⬛
Nick has 1 unit ⬛

Their difference = ⬛⬛⬛ - ⬛ = ⬛⬛

This is 2 units, which is twice of Nock's amount.


④

From part ②, we know that difference at first is $110


So $110 = 2 units

1 unit = $110 ÷ 2 = $55


⑤

Amount of money Michael has at first

= 3 units
= 2 x $55
= $165

Thank you.