Operation save 30k by the time i'm 30..

xomggzyox

Is it do-able? Bit of background information, i'm currently studying for my degree in economics, i've got 2 years till i graduate and 7 years till i'm 30. I'd be looking at jobs that are around 25-30k a year when i graduate and really want to have some good savings by the time i'm 30! Any tips?

innovate

Sounds an immensely simple case for an economist.

To get to £30Kish, you need to save approx £350 a month if you have 7 years to save; around £500 a month if you have 5 years. You'll take home about between £1.3K and £1.6K net a month. Only you can say whether you can afford the monthly savings required to reach your target sum.

You'd research places like the MSE guides for banking, savings, ISAs and pensions to help you determine what the most appropriate savings and investments are for you. You'd also know what your financial goals are (e.g.. what are you saving for?), and whether you are saving or investing.