I've been saving it mostly in my youth saver account which is about 2.4% interest. I have 6k student debt (I did one semester of uni before realising it wasn't for me). Other than that my car was bought for me any my mum pays for the insurance. I pay for the rego and green slip ≈ $1000 a year.
I also have the opportunity as an apprentice to take a 20k loan from the government over the course of my apprenticeship with no interest and if paid back in full at end of my apprenticeship I get to keep 20%. If i get it I will receive 8k 1st year, 6k, 4k, then 2k in the final year.
One of the terms of me not paying rent to my dad to live in his house was that I would be wise with my money and I'm certainly not the type to make impulse purchases or waste it. (Though I did have a gym membership one year and that felt horrible, burning money but I hadn't yet become confident in myself enough to go in and cancel it. Callisthenics fits my lifestyle more now anyway)
I have an account with my bank that allows me to buy and sell in the stock market. I'm too scared to invest it as I have little time to read up and I don't have an extensive knowledge on finance/ investing in the stock market but I'm very interested in learning.
My current goals in life are getting my electrical lisence and start studying engineering and then construction/industrial management. I will be able to live at my dad's house until 2021 November (maybe longer).
I would love as much advice as possible.
I currently do not budget myself as I have barely any expenses however I would like to in the future. The closest I get to recording my purchases is keeping my receipts for my work gear as they are tax deductible. However id like something a little more high tech than a shoebox. Are there good programs that achieve this?
I would like to know where I should be putting my money, my youth saver account gets almost the same interest as a term deposit with my bank 0.1% difference. Is this worth setting up?
Also my mother has offered to go 50/50 in an investment property for me and I'm thinking we'll buy it through the family trust. (I'm not 100% sure on how family trusts work but I think it would work best)
I have a superfund and I've set it to be moderately aggressive in its investment strategy. I only contribute the minimum 9% as I'd like to be able to have as much as possible so I can put it in an investment property.
Is there anything else I should be doing with my money? Or things I should avoid in the future? I apologize for the long post and life story but I wanted to spare no detail. Thanks for reading to the end!
Thankyou for your advice in advance!
Submitted December 26, 2018 at 06:12AM by exceler8 http://bit.ly/2EQ5OJq
