Hi All,
First of all, thank you for all the insight you indirectly give me, and more importantly the feeling of having to be active regarding managing my resources.
I am a 25 years old engineer living in the UK. I have started my career 2 years ago and I have never been active in controlling/planning my expenses. With my resources growing, I feel I need to take more active control about it all, to set me on the right track for the future. Some financial info about myself:
- Salary: 50k a year, monthly net being a little under 3k
- Savings: 15k set aside in current account, not taking advantage of interest..
- Debt: none
- Rent & commuting: 600£ & 0£ (bicycle)
- Expenses: Food: I really enjoy cooking and I tend to not save money when buying ingredients. I face this as investing in the practise of cooking; Flights: I fly often back home to see my family. Around 2 times every trimester. Due to short notice at work, I end up spending around 300£ per flight (return); Social dinners: I tend to eat out probably too many times, I'd say 5-8 times a month.
So what I am looking for is some help managing/planning, including how much I should save and how much I should invest. I currently save 33% of my salary every month and invest 10%.
I am also interested in property investment but I don't think I am ready to do it yet. My question is: when will I be ready?
Other questions are: How much should I save instead? How much should I invest instead? How best to invest? Should I seek professional help?
I'm sorry if it's too basic, but this is the first time I'm being exposed to money at this scale, and the power of buying it offers can be dangerous if not managed properly.
Thanks in advance for any advice you might have for me.
Submitted May 05, 2019 at 02:18PM by barracon http://bit.ly/2H3Vf5p
