Ok, so I'm making some plans for going forward, and i would like some advice from the more financially savy people on here. Im based in the UK if this helps.
Im an design student majoring in digital animation, before that I studied film and media production. For two years I worked part time jobs in pizza delivery and at a leisure center while doing freelance animated films for local companies. I currently live in my family home, so I have relatively low outgoings compared to most. That said, I save everything I have earned, barely buying myself anything except to carry out my hobbies (Judo and Kickboxing are both inexpensive).
I managed to save just uner £20,000 to my name including my life savings of £5400 before I started employment at the end of my education. I am very picky about what I buy and wont throw my cash away on just anything. Most of this money is in various savings accounts, including a save to buy account with £6500 pounds in it awaiting this years bonus for not touching it.
I have recently managed to leave both of my low paying jobs and join a media production company specialising in advertisment, interviews and marketing related work. I have been trained as part of the marketing team in analytics and digital marketing, using keywords and how to get publicity online for the company over our social media and website keywords to increase click through rate for transactions. On top of this, I have shown my stuff and become the official storyboard artist for the company. That being said, this is currently being treated as a 'work experience' deal contract wise. I do not earn more than £500 a month, but I do have a few days a week to work on my animation portfolio and develop my skills in those areas. My employers are impressed and have said they want to keep me around, and if a full time position opens up for them while they expand, they want me to stay and move into that role on a contractual basis.
Now, Im 27, and living with my family is a little, stressful in some ways. I'm wanting to be my own person and I can't do that around my parents due to their values, so I am saving everything I can for a house deposit. With all the money I currently have, I could move somewhere local to work, but I don't have the history of regular payments to actually be considered for a mortgage.
My family have offered to give me some of my inheritence early as a moving out gift, thing is, i dont want to accept handouts, as it goes against my beliefs that if I cannot get something myself Im not supposed to have it yet. I know that sounds boneheaded, but I dont want to be one of those people who goes running to their parents for money. I have a sibling who got themselves in massive debt problems (in the 10's of 1000s as teenager) over this (might be the root of my stinginess with my own money tbh) but I want to get myself in a situation I can have move out asap. Thing is I cannot get a mortage on my current income.
So the question is, do I continue to pour everything I have into a deposit while I spend the next however long trying to get full time work? I mean I could end up with a massive deposit and a decent mortgage once I secure full time work.
If I took my delivery job back up, I could early about £10,000 a year, but it costs fuel, it would really ware out my car quickly and I would only be able to borrow about £25000 on a mortgage, which isnt ideal
Submitted December 09, 2018 at 06:53PM by helsbellz https://ift.tt/2zRv1iy
