Life advice please!

bristol_pilot

I started my first job at a similar age and one thing I remember vividly is not being able to save anything at all for the first six months or so due to at least one 'one off' item appearing every month - mostly connected with car, work clothes, new flat deposit etc.....there just seemed to be a steady flow of expenses connected with my new 'working lifestyle' that seemed to take about half a year to settle down. So as others have said, I wouldn't get into any long-term savings plans right now, just live for a year or so and see how much you are spending and on what. When you do start saving, a rainy day fund should be your first priority as there are no jobs for life anymore (if there ever were).

kidmugsy

If you are only 25 and find you "need" to spend a lot to have fun, you are doing it wrong. Twenty-five year olds should be able to get exhilarated on fresh air and good company. And motorbikes; don't forget motorbikes.

theoretica

You are 25 now so can expect to work for about 40 years, and then retire for about 20. So every 2 years of work now will need to pay for one of retirement later and a starting point to consider is saving 1/3 of your net salary, so around £650. Put some into a pension (take advantage of all free money you can get off your employer) and the rest could be a house deposit in a few years.

And if you want expensive holidays or cars save separately for them!