£32,000 salary - How can I save?

jodiebabes

ukcarper wrote: »

When you see the salaries for graduates it does make you wonder what’s the point of going to university.

So true!

Im on 22k as a graduate age 24

My partners is on 39k as a non graduate age 27

If I knew what I knew now! Although if someone wants the whole uni experience and you need it for your career it is worth it I suppose. lol.

Torby

hostman wrote: »

I was on the same wage at 22, I'm now 23 - No Uni for me.

Oh and I bought a house last year - Guess how? Saving and reducing my spending.

still have to hear what jobs are paying £32k to a 22 year old....

hostman

Torby wrote: »

still have to hear what jobs are paying £32k to a 22 year old....

http://www.uh-hosting.co.uk/about/

I'm James

Strapped

Torby wrote: »

still have to hear what jobs are paying £32k to a 22 year old....

Lots of City jobs pay that much (bring home). I graduated age 20 & could've made that much by 22 if I had put my mind to it instead of wandering about for four or five years before finally realising where the dosh was :rotfl:

kes1981

Good on you Level 103, for wanting to get yourself sorted. Just take the time to make sure you're doing the right thing - and if you can afford to save that much at the moment, then do it.

I would think seriously about getting a car in London - you'll be paying a lot for sitting in traffic, and if you're only using it for gym or going out then i'm not sure it's worth it. I live in London and have a car that I only use for travelling to see family at the weekends.

Try the tips everyone's written - like looking at EXACTLY where you spend your money, and see where you can save. There's nothing wrong with saving even if you don't end up using the money for a flat!

ItchieFeet

Hello Level103!
Lots of fab advice on here that I wish I'd known!

Great advice from TotallyBroke on budgeting for all costs incurred....Check out the Budget Planner on this website too. I was too excited about buying the flat, (2 others fell through before) and didnt thoroughly check all the numbers....oops! Managing but not easy....dont regret it, but have had to sacrifice a bunch of fun things for not fun things like Managing Agent fees, etc....booo

Enjoy life at 22 and set some goals but be realistic/flexible...so you dont beat yourself up over a few drinks after work that dont fit the budget...

If you dont need the car to get to work, check out the car rental company websites. One I know does weekend specials and then you can choose your new-reg car! May make one weekend seem expensive, but you dont need tax, mot, car finance, insurance, etc.

I guess my advice would be to plan/budget for everything and like the notes above live on a budget for a bit while saving and see how you like it! Direct debit straight from your wages to the savings and you may not miss it ;o)

Final tip - when you're ready to purchase a property, go to a qualified solicitor that does ALL the conveyancing work at a set a fee. Saved myself a fortune on a messy purchase (vendor nightmares) with the due diligence of my fantastic solicitor!

Saver-Rob

I'm 22, earned £38,000 last year (with lots of overtime making it to that figure) and dont live in London.

But what you spend a month is enormous. The main point here is 'priorities'. You need to decide what they are!

dudes_2

clairet707 wrote: »

Im dreaming of a £32k salary and thats 6 years after graduating and with an MSc (chemist on £23k), my H has only just broached the £32k limit and he has a PhD and 10 years of experience (physics)... were just outside of London, none of my close friends are on that and most of them graduated 8 years ago

To the OP I think you need to do a SOA (statement of affairs) to see where you are spending the money and see what you can cut down to save for a deposit, agree about the car though.. £400 a month is a heck of a lot for something that depreciates quicker than food cools down - look for a cheaper car or use public transport

Academics are often underpaid.

PasturesNew

I'd not get a car loan. I'd save up for 3-4 months and get a cheaper car for cash.

clairet707

dudes wrote: »

Academics are often underpaid.

Thanks I know but neither of us are academics..

I work for a pharma company and he works in defence!