21 with 6k, what shall I do with it?

Alice_Holt

Put some in a pension, keep the rest as your emergency fund.

Think about starting a regular investmemt plan e.g.
https://www.bailliegifford.com/individual-investors/how-to-invest/investment-trust-share-planisa/

atush

Have you joined your work pension? Do you pay in enough to get their max contribution?

if so, i'd keep saving. But do start a travel and leisure budget (doesnt have to be large and wasteful) and spend a little on yourself each month having a small amount of fun with those friends of yours, or spend less and take a short and inexpensive holiday once in a while. If you set this money aside monthly, then spend it, it doenst have to come from your savings pot which might help you mentally.

Life needs to be a balance.

EdGasket

I never travelled much and don't regret it. Seems overated to me. You nearly always end up getting ill; it costs a fortune; and pesky foreigners keep trying to scam you out of your holiday money. No thanks.

BrookesAndrew

I haven't joined the company pension. I haven't really thought about joining it but I guess I should look into it now while I am young.

Yeah I see everyone's point about travelling and seeing the world and having nice experiences. I suppose its what you are into. I do have a brand new car which I have got on finance so I suppose that is my enjoyment at the moment. I do a lot of things in my car.

chockydavid1983

Every financial decision you make is a balance between present and future.
If you spend a lot now on travelling that may mean you can't get a home as big or soon as you could have for example.
But if travelling is important to you, then it's worth the money.
It just depends on what your priorities are and only you can answer that.

xylophone

I haven't joined the company pension.

:eek::eek::eek:

Why on earth not???

What kind of scheme is it?

EdGasket

BrookesAndrew wrote: »

I I do have a brand new car which I have got on finance so I suppose that is my enjoyment at the moment. I do a lot of things in my car.

If you want to save a lot of money, get rid of the new car, buy an old banger and learn how to maintain it. That's what I did and have saved £££££s over the years. I have never spent more than 1K on a car and they've all been gooduns; a couple lasting nearly 10 years from my purchase. New cars depreciate so much. You will enjoy an older car that you maintain just as much as a new one; probably more so.

Pincher

GBP1=USD1.261 !

Not too great for sterling exchange rate wise.

Keep your powder dry and wait for better times to travel.

markwilkinson

I can see a lot of myself in the OP. I had a bit more at 21 and I blew most of it on a Golf GTI. I loved it! I was earning good money and was in nightclubs etc, four nights a week, living the high life. I still look back and chuckle - good times!

Travel is underrated. I've been to a lot of places, Eastern Europe, America, Canada, Med etc, etc. I have those memories until I get dementia I suppose.

Looking at buying a place in France or Spain at the moment as I swore that if the wife and I ever had children (we can't) we would buy a place abroad to help with their overall education and life skills. We now have two gorgeous girls as God children and would like them to have that benefit, ultimately the calculator will decide.

Financially its best to be frugal, think about the future (pension etc) but don't forget to enjoy life and when you get into a position where you can, try use your money for the benefit of others.

Eco_Miser

EdGasket wrote: »

If you want to save a lot of money, get rid of the new car, buy an old banger and learn how to maintain it. That's what I did and have saved £££££s over the years.
...
New cars depreciate so much. You will enjoy an older car that you maintain just as much as a new one; probably more so.

Since the OP has already bought the new car, and suffered the instant depreciation, would it not be better now to keep and maintain the car for the next 30 years or so?