How much disposable income would be considered well off for an 18 y/o in the UK?

jasonstu

Very informative! Thanks you!

[Deleted User]

You sound like you might need to take your questions onto Reddit's AskUK https://www.reddit.com/r/AskUK/ but prepare to be lynched as a student that 'has too much money'.

Go on a decent holiday if you really want to spend that money. I'm about to go on a 2 week cruise that isn't leaving much change from £5k (AND it's costing about half the normal price as we bought it on black-friday). This is my wife's favourite way of spending my excess money

Just save the money. You'll be surprised how expensive a house is going to be when you're graduated. As a doctor you're going to need to prepare to be "Money rich, time poor"

Linton

Serious walking - eg Coast to Coast or SW Coastal Path. Spend a long weekend somewhere abroad.

philip1427

ringo_24601 wrote: »

You sound like you might need to take your questions onto Reddit's AskUK but prepare to be lynched as a student that 'has too much money'.

Go on a decent holiday if you really want to spend that money. I'm about to go on a 2 week cruise that isn't leaving much change from £5k (AND it's costing about half the normal price as we bought it on black-friday). This is my wife's favourite way of spending my excess money

Just save the money. You'll be surprised how expensive a house is going to be when you're graduated. As a doctor you're going to need to prepare to be "Money rich, time poor"

Enjoy your cruise! I know I don't want to be lynched for being a student with too much money. It makes me sick when people get jealous of those who have made their own way and don't feel the need to take the 'poor me' I'm a student approach hahaha

d70cw6

typical entitled special snowflake millennial.

philip1427

d70cw6 wrote: »

typical entitled special snowflake millennial.

Please elaborate on how I am in anyway entitled?

d70cw6

philip1427 wrote: »

Please elaborate on how I am in anyway entitled?

you deserve an answer? wow

Credit-Crunched

philip1427 wrote: »

Guys, I have another question.

I save a lot of my money. Purely because I don't know what to do with it. I maybe spend about 250 a month. What could I buy/do which would be fun but wouldn't depreciate that much? I mean any boy would love a sports car but I don't want to be that d**k....

At the minute my hobbies don't cost that much

I do jujitsu. I play tennis. I revise (lol) and I work (LOL). I also go out on a proper date night once a month I.e for dinner then some drinks. Bar that we just go for walks, coffee and cinema etc.

I'm worries about being one of those people who have lots of money saved but don't enjoy it

You have money, we get that. Well done on obtaining it.

Asking what to do for social act ivies on a forum is a little odd. Do what you enjoy doing.

You seem to need approval from people around you.

I train Jujitsu too and this takes up about 7 hours a week for me! Just forget about your money, and enjoy being young and relatively care free.

If you are adverse to risk, why not buy premium bonds?

rebecca1982

philip1427 wrote: »

Here's some some background info. I have managed to secure myself a passive income of around £11000 plus I work weekends in a Boots as a pharmacy dispenser where I make around £6000 a year not including over time. I am about to study medicine and my goal is to go through uni without gathering debt. Would my circumstances be considered well off? Obviously not in comparison to a millionaire but for a normal joe. I do not live an excessive lifestyle purely because I don't have much time to spend money etc however I do like to buy good quality items or when I go out I like to have a really nice meal and visit nice bars etc when my girlfriend and I go out I would say we'd spend ~100£. Do I live a normal teenage lifestyle?

I don't understand the question? Are you wondering if you apply for means tested student loans / bursaries?

rebecca1982

philip1427 wrote: »

I save a lot of my money. Purely because I don't know what to do with it. I maybe spend about 250 a month. What could I buy/do which would be fun but wouldn't depreciate that much? I mean any boy would love a sports car but I don't want to be that d**k....

That's a nice place to be in. I would consider spending a bit more, maybe £300 a month so you can have a few more nice things. £250 sounds too little in my view and it's easy to stop saving if you get fed up at not having a few "nice things".

You can then save the rest knowing you have a reasonably sweet life and you're developing a nest egg.

Btw, sports cars aren't all that. Take it from a guy who's been there and done that. They cost more, cost more to put petrol in, repairs cost more because it's not a "normal car", insurance costs more.

They're nice for 5 minutes, a complete PITA for the remaining time you own it!

philip1427 wrote: »

At the minute my hobbies don't cost that much

I do jujitsu. I play tennis. I revise (lol) and I work (LOL). I also go out on a proper date night once a month I.e for dinner then some drinks. Bar that we just go for walks, coffee and cinema etc.

I'm worries about being one of those people who have lots of money saved but don't enjoy it

I suspect you know in your heart of hearts you're a skinflint. Personally, spend a little bit more cash, do nice things etc etc...

Don't give up saving, it's a great trait to have, just ease back on packing all your cash away.

All work and no fun made Jack a dull boy!!!