I have £5000 savings at 35. Is my life over?

darkidoe

aj23 wrote: »

Don't get haircut every two weeks, go every three.

Or even better, buy a hair clipper and learn to clipper cut your hair. I do it once in a while and it has more than paid back the cost of the clipper with the number of times I cut my hair myself. Best example of investment return.

darkidoe

Sweetcake wrote: »

Hey, good for you! Could you share tips on how you managed to save that amount in a short amount of time? Or what worked for you to enable you to save that amount

Join the The "Save 12k in 2018" Thread!.

Be accountable and responsible for your spending.
Learn about regular savers.
Try to increase income.

thenewcomer

i am 34 and have not got my driving license yet. is my life over?

aj23_2

Terry_Towelling wrote: »

Crikey @aj23 your hair must grow really quickly!:)

BTW, do your parents make you pay any rent to stay there or are you one of the lucky ones? I think OP has to pay rent to stay where they are and it sounds like they can't easily cut down on socialising because they say they don't have much of a social circle.

With our children, we charged them a nominal rent (after they'd started working) to live at home and then saved it without telling them. Then when they were ready to leave home we gave it all back to them as a gift. The only downside to that approach is that they may have to stay at home for longer. Thankfully they've all left now!

I do go every two weeks, but they do me a deal as a go regularly.

I don't pay rent. My parents won't take it, they disagree with taking money off of their own children. However, your method is a good idea.

aj23_2

atush wrote: »

I hope you pay your parents some rent. I charge the two of mine still with me.

My parents don't charge me rent. They disagree with the principle of charging the creation you bought into the world then they chose to have me As you see, I don't actually earn that much. And they don't need the money (their words, not mine). Nor do they think it will help me in life to take money off of me, it's hard times for people my age what with property prices.

I think it's a bit odd that you should say that you hope I do just because you asked yours to. But, each to their own

Terry_Towelling

The rent-to-live-at-home issue is an interesting one.

I have a niece who was aghast at the proposal to pay rent. Her attitude was ' You mean you'd charge me to live in my own home?!' To which the response is, 'Well we have to pay to live in our own home, so why shouldn't you?'

Personally, I'd insist on paying rent to my parents and, if they wouldn't take it, I'd feel obliged to contribute to the household in some other way.

Now, you may say that makes me an idiot.......dramatic pause for the shouting to die down.... but I guess I'm just old fashioned.

I do accept, of course, that trying to save up enough to move out is harder these days and, as long as the youngster is obviously saving with a view to moving on in life and not squandering their cash it sounds quite reasonable not to take rent from them.

Terry_Towelling

thenewcomer wrote: »

i am 34 and have not got my driving license yet. is my life over?

Only if you've taken out an expensive car loan!:)

Alexland

If our son wants to stay at home after full time education then I would charge him at prevailing rent-a-room rate and put the money aside to help with his house deposit, etc. My wife has an unwarranted affection for him so might disagree with this policy...

chelseablue

I'm 35 and have £8,000 in savings (plus around £80,000 in my pension pot)

I did have £47,000 saved but I used it on a house deposit.
Was a lot more relaxed when I had the 47 grand in the bank, I dream of having it again sometime!

atush

thenewcomer wrote: »

i am 34 and have not got my driving license yet. is my life over?

Yes