What should a 21yr old life priorities be?

Simon11

Hi

I'm wondering if people can give me advice and challenge my thinking of life. I thought this was the best place for this post:)

I've always been a saver and in last 2 years, I've been thinking about purchasing a house in greater London(Where i live with parents). I'm 21 at the moment on a placement with one more left of university. My plan is to compete the placement, final yr and go travelling for abit(1-2 months). Once I get a full time job, I'm hoping to buy my own place.

At the moment I have no debt and have saved 24k from part time jobs ect.

However is this really what I should be doing- Savings for a house at my age? Sometimes I feel I should be more my age and just blow it.

I see saving up for a house as an investment and so the sooner you do it the better? Living with parents is good because its cheaper, food cooked and no worries about bills ect. However getting place of my own has many benefits

Only things I really spend my money on is a yearly holiday and going for nights out with friends:beer:

I don't have a car, just cycle everywhere and get lift from dad if really needed. (also Good public transport London).

I'm sorry its abit random my post but tried to tell everything about myself so you can comment on what my priorities should be. Save for a house or enjoy being young?

What did you guys do when you were around 21?

mitchaa

Shag*ing everything that moved. Pis*ed every weekend and generally having the time of my life.

Life is too short.

I suppose it depends on your personality and your social status.

Person_one

When I was 21 I was living away from home at uni, just about making ends meet between my student loan and a part time job but having a good time going out drinking etc and doing a bit of cheap hostel travel.

To be honest, if you're having a holiday a year and regular nights out with mates you aren't exactly living like a monk, what else would you blow it on? A nice car won't feel like much of a luxury or a treat after a few months of driving in london traffic! I love not having a car and dread having to get one again.

You must have had some pretty well paying part time jobs to have saved that much though? No student loan?

Cleaver

Simon11 wrote: »

I'm sorry its abit random my post but tried to tell everything about myself so you can comment on what my priorities should be. Save for a house or enjoy being young?

What did you guys do when you were around 21?

Well done on saving that amount of money at your age, that seems quite an achievement to me. By all means listen to the responses you get on here and take on board what people say.

But at the end of the day only you know how you want to live your life. If you're happy saving money and enjoy your lifestyle then don't just start throwing your cash around because you feel you ought to be like other people.

I think you can save for a house and still enjoy 'being young'.

Cleaver

mitchaa wrote: »

Shag*ing everything that moved. Pis*ed every weekend and generally having the time of my life.

Y'see, those two things wouldn't result in me 'having the time of my life'. I'd actually be a bit depressed living that lifestyle, even at 21. But then that's why it's good that we're all different.

p00hsticks

Simon11 wrote: »

Hi

However getting place of my own has many benefits

Definitely - but there's no reason why that 'place of your own' has to the the 'place THAT you own'.

Have you considered renting ? Getting a place in a shared house, perhaps ?

I certainly wouldn't have wanted the burden and reponsibility of being tied down to a mortgage and a property (and therefore a job) at the age of 21 - it was bad enough at thirty !

Renting means that if you suddenly decide you want to travel, or try a diffent job, or move in with a girlfriend (or boyfriend), or try living in a different part of the country (or a different country!) then you can do so.

London's a great place, but it's not the centre of the universe. In your shoes, at your age, I'd not be wanting to tie myself down more that I have to.

verytricky69

I Think the renting/house sharing thing is a good option for now. 21 is young to be tied down to a mortgage. Keep saving if you can- the bigger the deposit the better in this climate!

24k at 21 is an impressive amount- how did you manage that as a student if you dont mind me asking??

Simon11

Wow your all quick to post!

At the moment I'm in a finance job for a rail company and have a decent chance of a graduate job in the industry on 26k.

I personally see renting as a waste of money because I wish to live in my local area, as thats were my friends are.

Dating wise, I'm going to stay single and enjoy life before i find a girl. Enjoy free life before my money and time dissapears hehe But if i do meet someone doesn't stop me trying it

Saving wises, it all from doing paperounds when little, then doing part time lifeguarding while at uni doing an average of 20hours a week getting £8 an hour and from placement im on at the moment.

None of my other friends are as keen to save and none have the desire to save for a house. Stuck living as a student and haven't though of the after life

Simon11

Dads been kind enough to pay tuition fees and I'm living at home as uni is only 30minutes away. So very little costs.

I took the decision to stay at home while doing uni as I'd rather move out after im 22, rather than moving out for uni from 18-22, getting into lots of debt then having to live with parents untill your 28...... ect

Doesn't stop me joining social clubs and having lots of nights out tho

princessamy86

Hi Simon, I'm 23 now and bought my first house at 21. I didn't save for it like you, but I got a big chunk of inheritance and thought the best way to use it was to use it as a deposit on a house. I think-well done! If you want to buy a house, then buy one, I really don't think you'll regret it as long as it's the right house for you. Just make sure you factor in maintenance costs when you're working out what you can afford, as well as all the other usual bills.

Simon11

When you got a house, was it life as you expected or was there things you didn't think of?