Hey, I'm new to posting in this forum but I thought I could do with some wisdom from fellow Redditors.
I'm a 21 year old female university student in Sydney, Australia and I'm at the point in my life where I am starting to save more, travel, think about investing, etc. However I have roughly $20,000AUD that I will receive from my parents next year for either further education, housing, or investment.
I still live at home with my family, don't own or drive a car, and work a casual job at a cafe while I'm studying in my last year. I have never had a credit card (need to apply for one soon) or any non-education related debts, but I'm definitely not being frugal with my spending or saving as much as I should as I've just gotten back from studying abroad and I'm about to go on another university course soon so once I'm home I'll start again.
My long-term goals would be to own property, or to invest my money in a way that would generate a passive income stream. But I'm really new to any of these ideas (besides basic term deposits, etc.) I Have a $12,500 AUD HECS-DEBT (university loan) for My Bachelor's degree as I went to study abroad and undertake a short course so I applied for two government HELP loans, however my degree itself was paid up front, but when I undertake my masters I will defer the fee (roughly $20kAUD) onto HECS (1-2% interest per year paid back when I earn over $40k) And be left with the $12.5 k HECS from my undergrad + whatever the cost of my masters will be.
I don't want to seem entitled writing this, my parents worked really hard to save the money for my brother and I since we were born and sacrificed a lot as they work traditional jobs (teacher, insurance).
I just don't know where to begin with utilizing this $20k to the absolute best of my advantage because I know have the advantage of capital as a young person can be rare and easily messed up. I'm unsure if I would use to it pay of my Master's loans, or invest... HELP! Please :)
Thanks guys
Submitted May 18, 2017 at 10:59AM by otistomyreddit http://ift.tt/2pPtOFv
