Do you think my idea for saving is a good one? :). opinions please.

BrettMorganxD

atush wrote: »

First Great for you! Saving at such a young age.

Second, at your age, when working (even in summer when I was at UNI) I paid my parents something towards food/rent. Mainly beacuse they helped pay for UNi but also becasue Iwas earning. didn't do this when I was at school/a levels etc. So a treat for your Dad now and again is a must.

third, save up 6 months salary in cash in an ISA if you pay tax, and best savings acct otherwise.. After that you can branch out into equities, property (or deposit for) and pensions.

Thanks .

I do treat my dad I often take him out for the odd meal/ buy in fish and chips. I may not pay rent, but I do 90% of the food shopping...

atush

Well, the food shopping is in effect paying for the roof over your head so you are already one up ;-)

Just build up your cash reserves before investing in equities.

BrettMorganxD

atush wrote: »

Well, the food shopping is in effect paying for the roof over your head so you are already one up ;-)

Just build up your cash reserves before investing in equities.

I dont really like investments, only savings

BrettMorganxD

In years to come when I do buy my house, how much do you think is enough to save as emergency cash.

I was thinking £12,000. That gives me £1,000 a month (current salary) to live on for a year. My salary will be more by the time I buy my house though, obviously.

BrettMorganxD

Does anyone here regularly work alot of overtime (or 2 jobs) in order to save cash?