Money-wise advice for a young lad

Congratulations on the money saved so far. :beer:

Will your lass be working in same area or will one of you have to relocate to find a good job and then she either travels some distance or you get somewhere mid way for both of your jobs? July is not far (next week isn't it) so you probably wouldn't get a house by then anyway.

I would however start looking at building a pension ASAP though and as they say the quicker you start paying the more etc - has your employer got a scheme? The quicker you start before starting to pay your mortgage (I know your renting) but it's not going to appear as much when you've done it regularly for a while.

You may want to give us others some advice on how to save as much in a short time!

You sound like you've got your head screwed on right anyway.

I agree with you with the curtailing drink and smoke (barely drink - not even £20 per month and never smoked) so most of my money is I hope in bank, my biggest expense is my car - which I hope to last another 5 - 6 years. And a very good holiday every 2 - 3 years (but saved up beforehand). Alas I don't have my own place (living cheaply at parents) as I've just lost my job so will probably relocate somewhere - money is ready on deposit on house.

I've seen so many of my colleagues go out drinking all the time and spend so much in pub and not remember it afterwads, saying that I know of a couple at where I used to work who were both tee totals and I don't know where their money went either.

Why don't you have a look at other parts of the chat forum which have information about freebies and I would also suggest you copy your last email to the Debt Free Wannabe board as it may help them a bit? You do have some good comments and sometime in the future you may even be nominated for the post of the month award. There are also good advice from people on the pension forum too which may be able to advice more on that matter.

As you already know the more deposit you have saved is better for you in long run - have you set up an Isa and a regular savings account or if you are going to buy a house in near future it might be worth keeping the money in a 30 day notice account or similar?

I have started my cash ISA this year (drip fed), and started a regular savings account and a High Interest account which I can drip feed the regular savings account but I am in posistion to be able to take all the money out of the regular saver account 1 per annum so if I am in a situation where I can buy a place I can access it at any time without penalties. :j

I agree that banks / BS don't try and support the savers of course they would not be profiting from us saving if they were to give us a substantial amount of interest on savings. Of course they get so much more of people who are in debt and who owe them money than the ones who just save as much as possible.

I would love my own place and my own business, unfortunately I am not in a posistion for either currently, hopefully one day soon I will get a very good job and be able to re-start saving again and as it will probably mean moving out of area for job - I will have to rent somewhere until I would be in a situation to buy a house, which to me is dead money - I'd rather be paying off my own mortgage than someone else's.

After that I hope that I can pay off my mortgage asap and make some alterations to the house I buy enough to make a bit of a profit when I do sell up x amount of years down the road. Or be in a posistion to BTL another property but currently it's just a dream.

Until then all I can do is attempt to sell more on ebay, and look for employment - selling items which I don't use as when I do likely relocate I won't have to rent as large a van to move the items! :T and a bit more money into a HRBA!

Remember with your ISA entitlement you can put in up to £3000 in a cash isa per annum and take out 1 per but you won't be able to put it back, so think if you want to take an ISA or a high amount of regular savings with no penalties if you take the money out - there's a few banks / BS which have a decent interest account for saving for a house (but sometimes you can get better deals with some of their other accounts so just have a good look around before you put your money into these before you know all the details.