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  • FIRST POST
    • BrookesAndrew
    • By BrookesAndrew 20th Apr 17, 8:51 AM
    • 304Posts
    • 105Thanks
    BrookesAndrew
    21 with £13000, what should I do with it?
    • #1
    • 20th Apr 17, 8:51 AM
    21 with £13000, what should I do with it? 20th Apr 17 at 8:51 AM
    Hi everybody,

    I have been saving like mad these past few years and taking full advantage of the bonuses I have been getting. I have managed to save up just over 13k. I am wondering what should I do with it? At the moment its just in my Santander savings account earning me 0.1 percent of interest. I know something needs to be done with this money. I do want to get a house when I am older but at the moment my basic is only 20k and I donít think I am going to be able to get a house just yet? Any help on what I should do with this money would be great, thank you.

    Andrew
Page 2
    • Fatbritabroad
    • By Fatbritabroad 21st Apr 17, 12:49 PM
    • 137 Posts
    • 60 Thanks
    Fatbritabroad
    Working from 16 years old, living at home and putting away at least half of my money every month, sometimes even more with bonuses! I must say though that even with this money it can be quite a strain saving money when you are seeing all your mates going out all the time and going on nice holidays! Be worth it in the end I am sure!
    Originally posted by BrookesAndrew
    It really will keep it up.

    I've always been boring and saved not quite as early or as hard as you have but at 36 and despite a divorce which reduced my net worth by 100k my net worth is around 360kinc house equity. Now trying to get more net worth outside of house equity (that's about 200k of it). Every chance with a fair wind of being a millionaire by the time I retire. Have a goal in mind and increase savings pensions as you get pay rises so you don't notice the difference and it's surprising how much you can salt away while still having a decent life. Increasing your salary helps too of course! I've eased up a bit now and allow a few more luxuries like a nice car and more expensive trips but still save around 25% of my pre tax Income
    • elephantrosie
    • By elephantrosie 21st Apr 17, 1:23 PM
    • 132 Posts
    • 37 Thanks
    elephantrosie
    to me, education is important and i will not trade entering the working world earlier to university.
    • ViolaLass
    • By ViolaLass 21st Apr 17, 3:40 PM
    • 4,883 Posts
    • 6,733 Thanks
    ViolaLass
    to me, education is important and i will not trade entering the working world earlier to university.
    Originally posted by elephantrosie
    University can be over-rated. OH and I both feel that our degrees were not particularly useful.
    • elephantrosie
    • By elephantrosie 21st Apr 17, 8:29 PM
    • 132 Posts
    • 37 Thanks
    elephantrosie
    University can be over-rated. OH and I both feel that our degrees were not particularly useful.
    Originally posted by ViolaLass
    yes and no. mark zuckerberg, the fb founder quit his degree, not because he felt it was not particularly useful but he needed to do the right thing at the right time. he is now one of the richest man in the world.

    but say if you want to be a doctor... can you be one without the degree? no.
    many other professions come with necessary qualifications and although i did not enjoy my university days, i am thankful that both my lowly educated parents worked hard to sent their children to universities, giving us more opportunities.
    • ViolaLass
    • By ViolaLass 21st Apr 17, 9:21 PM
    • 4,883 Posts
    • 6,733 Thanks
    ViolaLass
    yes and no. mark zuckerberg, the fb founder quit his degree, not because he felt it was not particularly useful but he needed to do the right thing at the right time. he is now one of the richest man in the world.

    but say if you want to be a doctor... can you be one without the degree? no.
    many other professions come with necessary qualifications and although i did not enjoy my university days, i am thankful that both my lowly educated parents worked hard to sent their children to universities, giving us more opportunities.
    Originally posted by elephantrosie
    I'll happily accept that not all degrees are useless but I don't think that university for the sake of university is necessarily good. I wish I had studied something a bit more pointful but back then the message was 'get a degree, it doesn't matter what in'.
    • elephantrosie
    • By elephantrosie 21st Apr 17, 10:43 PM
    • 132 Posts
    • 37 Thanks
    elephantrosie
    I'll happily accept that not all degrees are useless but I don't think that university for the sake of university is necessarily good. I wish I had studied something a bit more pointful but back then the message was 'get a degree, it doesn't matter what in'.
    Originally posted by ViolaLass
    you received the wrong message.
    i had a goal of what degree i wanted, what degree i needed.
    • Eco Miser
    • By Eco Miser 22nd Apr 17, 1:53 AM
    • 2,728 Posts
    • 2,537 Thanks
    Eco Miser
    So although in general I agree, there are times when I don't think your comment applies.
    Originally posted by bobobski
    That is why I wrote "probably". There are always exceptions and edge cases, but their existence is not a reason to ignore the general case; and enumerating all the said exceptions and edge cases would lead to posts longer than bowlhead99's.
    Eco Miser
    Saving money for well over half a century
    • cashbackproblems
    • By cashbackproblems 22nd Apr 17, 2:48 AM
    • 1,564 Posts
    • 589 Thanks
    cashbackproblems
    Most graduates esrn far more over a lifetime than non grads fact
    • bigadaj
    • By bigadaj 22nd Apr 17, 9:13 AM
    • 8,751 Posts
    • 5,542 Thanks
    bigadaj
    Most graduates esrn far more over a lifetime than non grads fact
    Originally posted by cashbackproblems
    You appear to have absorbed the alternative truth.

    Whilst graduates may well earn more on average going forward, the current data for outperformance is by its nature historic, so based on times when graduates were a much smaller fraction of the population.

    The graduate premium is reducing and for many students, particularly those doing less rigorous or vocational courses at lower ranked universities, then opportunities will be very limited.

    Always question these 'facts' as you are really buying the advertising that universities, and particularly the ex polytechnics and higher education colleges are issuing, as that is unfortunately how they make their money, from fees.
    • ruperts
    • By ruperts 22nd Apr 17, 9:44 AM
    • 265 Posts
    • 298 Thanks
    ruperts
    If I was 21 and had £13k I'd go travelling around the world for a couple of years. In fact that's exactly what I did and although my net worth took a hit I wouldn't trade those experiences for any amount of money. I know this is a savings and investments board but you're 21, don't waste your youth worrying about interest rates.
    • ceb1995
    • By ceb1995 22nd Apr 17, 10:07 AM
    • 113 Posts
    • 100 Thanks
    ceb1995
    I m a year older with a bit less in savings than you, but I ve got it between help to buy isa, a monthly saver and a club Lloyds account and an easy access saver for the rest (I d lock it all away but we get married this year and hope to buy a house next year). Well done on saving so well not many people our age too, I think many have the spend whilst their young attitude and perhaps latter regret that.
    Earnings 2017:
    Swagbucks £39
    Cashback: £27.04
    • ViolaLass
    • By ViolaLass 22nd Apr 17, 12:24 PM
    • 4,883 Posts
    • 6,733 Thanks
    ViolaLass
    you received the wrong message.
    i had a goal of what degree i wanted, what degree i needed.
    Originally posted by elephantrosie
    Can't help what I was told!
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