Im 16 and moving out at 18 to rent myself a house. I need to save from 16-18.. coz I am planning to rent an unfurnished home so ill need to save for my own furniture im getting hand downs on microwaves and kettles n ****. But ill still need my own tv my own sofa bed games systems pc's etc etc etc etc...
I need help on what I should save and what I should spend on myself.
I worked it out I will be earning bout 525 a month FIRST OFF (even tho from 16-18 it will be hard to find a full time job, at 18 im gonna work as a healthcare assistant)
Anyways
525 ive thought of using it many ways
1) I could save evrey dime of it but then I would have none left for my self
2) I could spend the 25 but then my parents get no bored
3) best way Icame up with so fat was save 300 but thing is when I have money I spend money saving is not in my nature
Also how much board should I pay my parents? plz reply
P.S how much do u think I will need to save for furniture wise? I need to buy
A new tv (no bigger than 30 inch im not one of those who buys a 拢3000 60 inch telly just because the moneys there, yes this does condridict wot I said earlier but I have confusing ways)
a new 3 peice (2 sofa's and a chair)
a tv stand
a double bed (I know it is just me, but I like space when sleeping and is what im accostomed too also I dont think there is much diffrence in price.
A set of pans
a radio
A new pc (nothing fancy but mine is 13 years old)
a pc desk
A broadband router
an iron
an old stand (this can be second hand as long as it dont collapse)
then evreything else like curtains nets some new clothes just to set me going in life.
also out of the savings I will need 拢520 for a years bus pass, as I may be living up to 15 miles away from were I work, and cars r v expensive.
Please no nasty comments just gimme some advice on how to save some money instead of being like ';Should I buy tht or should I not, oh I guess just a tenner wnt hurt'; then going into the next shop and says ';so this is a fifer well 15 quid wnt break the bank'; and before ive done ive spent a 100 quid or so without realising it...
write back soz for bad grammar I wrote it in a rush gotta do the washing n ironing for mum n dadNeed some saving money tips/advice :)? (planning early so I learn how to manage money better) reply ASAP?
1st of all discuss with your parents what you will pay for your board once you start work. This is impossible for anyone else to give you a figure. Then you know you may need 拢10 week (拢520 a year) for your travel.
Any other things you need to pay %26amp; a realistic amount of money for yourself then needs to be added.
Out of the amount that is left I would put 3/4 into a savings plan that you can't access for 2 years so you are not tempted, %26amp; the other 1/4 into an ordinary savings account for emergencies only.
On that salary you are unlikely to save a fortune so look at saving the other way, on the things you will need. Listen to family %26amp; friends, if they are replacing any household item or furniture find out if they will sell you the old one cheaply. You will often find that you are given things!
You don't have to have EVERYTHING new! You can replace given or secondhand items bit by bit. Also you would be wise to keep some of what you save, again for emergencies, because when you have your own place there always will be one!
Good luck to you, being disciplined with money from the start is very wise %26amp; will keep you from getting in a complete mess financially. Need some saving money tips/advice :)? (planning early so I learn how to manage money better) reply ASAP?
Well for starters can you not take your bed wardrobe etc from your house? That will save you money.
Look for deals on computers etc
Also i know it sounds stupid but look at Tesco direct they have brilliant kitchen starter sets(cheap too)
Also if you get a clubcard you get points if you buy a computer desk from there and lots of stuff you need your get money back coupons and you could use these on food when your living there or on more furniture.
I would also recommend getting less furniture for example if it is just you why do you need 2 sofas and a chair?
1 sofa and a chair or just 2 sofas, chairs are expensive in comparison to how many people can sit on it!
Also look round car boot sales!!
They are brilliant and charity shops!
If you find a pieces of furniture but all the woods are different you could paint them or sand them down and varnish them!
I would set up a savings account say one where you can only take out money once a year! And with a good interest rate(though not sure you will find one now the financial market is in ruins) That way you will be making more from your money.
Hope this helps you a little!
Also for everything thet you need shop around, don't buy the first thing you see unless it's a good price!
You can usually fins stuff cheaper!
Good Luck x
Start learning to save out of the money you have coming in at present. That might be pocket money from your parents, as it doesn't sound like you are earning 拢525 per month yet. With limited income, being able to save half will be good practice for when you have better income and can save much more. Find things to do with your friends that are free or don't cost much. Keep remembering you are saving and not spending - make do with what you have as long as possible, buy from charity shops instead of new whenever you can (when you move out, you can find many furnishing items you need there too), join your local Freecycle and check out online the sorts of things on offer or requested.
When you do find work and have regular income, check with you parents about a suitable contribution for board. 拢25 per month wouldn't be enough. 拢25 per week might. Have money deducted from your wages straight into a savings account. What you don't have in your hand won't be so tempting to spend.
Good luck!! Keep looking forward.
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