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Applying to Uni? Let Universities come to you. Click here to get your perfect place 20-10-2014
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    (Original post by insignificant)
    I was SO tempted to spend a stupid amount on some wellies and scarf gloves etc...but I resisted! Will just use old ones... the thought of having a safety blanket in the bank always puts me off spending.
    Well done! You're a real saver!=D

    Reminds me.. I didn't buy that awesome hat for 60€... D:
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    No hat can be awesome enough to cost 60 euroes
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    (Original post by JohnJoe)
    How do people manage to work two jobs+ study?

    I know a friend who does it, but he's doing kind of illegal stuff at night which isn't an option to me. He also seems to have very lenient employers who let him off work for school.

    Thus his schedule:
    Uni 8-12, Work 12-5, other work 6/7-1/2am (around that).

    My problem is sort of I don't have that regular hours of Uni so I could say I can work from 12 onwards, and I don't have a job for at night. I am trying to get one, though.
    How I study and do 2 jobs?

    Well my course of study is an executive MBA program, it is designed only for working managers or business people... hence the scheduling is designed to accommodate such scheduling. Every 2-3 weeks I need to be in class Tuesday to Thursday from 9-4 and the module is finished by that end of the week.

    My employer pays for a few of us to be on that course so it is done on the understanding that during that 3-6 days per month we won't be at work. We also get 2 weeks off in January because there are exams during that time... some of us will still go to office though.

    The other jobs... heh... for my lodge, I don't really get involved a lot in its day to day running. I put in a very capable manager who I hand picked personally and to make sure he does a good job I give him a good profit sharing deal. Each month after all the cost including his salary has been covered, all the profits remaining I take 20%, he takes 30% and the remaining 50% is shared out by the 10 staff I have on the basis of number of hours worked. Though for this year and next, for tax avoidance reasons I won't take any income from it, all profits due to me are being reinvested into refurbishment. Thankfully all my staff are rather happy with the arrangement and do a very good job..... have not lost a single staff since March when I took it over where it was the norm no one worked for more than 3-6 months. I visit the site once a week or so to check the accounts. I usually visit it on a Thursday evening where all staff and manager will sit down for their weekly appraisals and air their grievances as well as my favourite part of it all.....dinner time LOL.

    The property and real estate development, I just do it as and when I have the time or find a good opportunity. I'm not going to do this now as I need to keep my credit lines open in case of any unforeseen circumstances that may prop up.

    My new business venture, this is actually the biggest I've done as this time I'm not just selling someone else's goods and making big profits out of it... this time I'm the manufacturer, the reseller and also the installer... best business model to control the cost. Most likely will have to rely on very good managers again and chair meetings once every 2 weeks or so, probably will need to be there every now and then for the marketing and when there is a high-level sale involved. Not quite decided yet how I will manage my time with this as I do need to continue with my full time job as otherwise I won't have any income
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    Should be able to hit £2k on payday
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    (Original post by letsdothetimewarpagain)
    Should be able to hit £2k on payday
    Best days of the year:
    1. Christmas day.
    2. Birthday.
    3. Payday.


    Well done
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    (Original post by JustAnotherCliche)
    Best days of the year:
    1. Christmas day.
    2. Birthday.
    3. Payday.


    Well done
    Definitely :yep:

    I need to be slightly careful this payday because of christmas making it 6 weeks before the next one. I almost forgot to account for that when working out what I need.

    It's amazing what good deals you can get with things though, my breakdown cover has gone from £23 a month to £7.50 and my car insurance looks set to drop by £40 a month in feb
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    I don't have anywhere near the amounts everyone else has, but since I only started Sunday (couldn't save beforehand since I was majorly in my overdraft and had Christmas shopping to do first) I am proud to say my first savings have amounted to £285, with more to be added each Tuesday (I get paid then, hehe).

    I'm not sure how long these savings will last since they will be used on driving lessons in the new year, but anything I don't use will certainly stay there
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    This club is awesome.
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    I have a fairly healthy net worth at 25 but it's so confusing as what to do with it. It's all in stocks and shares atm and I get a very healthy income from dividends. My dilemma at the moment is:

    1. I blow all the money from dividends which is way more than enough to live on, I really need to work on being more economical and saving.
    2. I'd quite like to buy a flat atm, the one I'm looking at is around £200k for 3 bedrooms/3 bathrooms top floor in a nice area, but I'm so scared of taking my money out of cash-generating stocks. So tempting to buy it outright, but then there's the option of mortgaging with a smaller downpayment, I'm a total chicken though. :P That and I have 3 years left of university so I could end up getting a job in a different city..and house prices are so unpredictable. Fraught with potential problems so I end up doing nothing.
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    Brief update, I now have £1650 in the savings account. Not exactly a fortune, but I'm getting there.
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    (Original post by leemkule)
    I have a fairly healthy net worth at 25 but it's so confusing as what to do with it. It's all in stocks and shares atm and I get a very healthy income from dividends. My dilemma at the moment is:

    1. I blow all the money from dividends which is way more than enough to live on, I really need to work on being more economical and saving.
    2. I'd quite like to buy a flat atm, the one I'm looking at is around £200k for 3 bedrooms/3 bathrooms top floor in a nice area, but I'm so scared of taking my money out of cash-generating stocks. So tempting to buy it outright, but then there's the option of mortgaging with a smaller downpayment, I'm a total chicken though. :P That and I have 3 years left of university so I could end up getting a job in a different city..and house prices are so unpredictable. Fraught with potential problems so I end up doing nothing.
    I think you're wise saving up your money for the time being, it would probably be quite difficult to find a job within a small town like St. Andrews after uni.
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    (Original post by Leavemyarcelona)
    I think you're wise saving up your money for the time being, it would probably be quite difficult to find a job within a small town like St. Andrews after uni.
    Ah sorry, I was probably a bit vague. I'm doing medicine here at St Andrews, but I'm doing my final 3 clinical years in Glasgow, my home city, which is where I was considering buying a flat.
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    (Original post by leemkule)
    Ah sorry, I was probably a bit vague. I'm doing medicine here at St Andrews, but I'm doing my final 3 clinical years in Glasgow, my home city, which is where I was considering buying a flat.
    Could potentially be a worthwhile investment then, as you shouldn't have much problem selling it again when the time comes, especially if it's in a good location in Glasgow.

    Saving up definitely pays dividends.
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    (Original post by Leavemyarcelona)
    Could potentially be a worthwhile investment then, as you shouldn't have much problem selling it again when the time comes, especially if it's in a good location in Glasgow.

    Saving up definitely pays dividends.
    For sure I'd agree with that, I've already got money for a flat, it's just in stocks. It'd just be a debate of whether I sell enough stocks to cover the price and lose significant income, vs paying a portion of it and mortgaging the rest (and using dividends to cover it).
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    (Original post by leemkule)
    I have a fairly healthy net worth at 25 but it's so confusing as what to do with it. It's all in stocks and shares atm and I get a very healthy income from dividends. My dilemma at the moment is:

    1. I blow all the money from dividends which is way more than enough to live on, I really need to work on being more economical and saving.
    2. I'd quite like to buy a flat atm, the one I'm looking at is around £200k for 3 bedrooms/3 bathrooms top floor in a nice area, but I'm so scared of taking my money out of cash-generating stocks. So tempting to buy it outright, but then there's the option of mortgaging with a smaller downpayment, I'm a total chicken though. :P That and I have 3 years left of university so I could end up getting a job in a different city..and house prices are so unpredictable. Fraught with potential problems so I end up doing nothing.
    How much if I may ask? Don't have to give exact number. Just curiosity btw.
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    (Original post by iPhone)
    How much if I may ask? Don't have to give exact number. Just curiosity btw.
    How much what, capital, dividends, flat price?
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    I shall join.

    I sadly have no savings but used to have the mentality of saving until i got jobs and went on a credit binge.

    I am going to get back on the savings bandwagon although i do not expect anything major until the summer as that is when i plan to work (should have got one for December/January but oh well).

    Basically from my loans and bursary totaling £1100 in Jan/Feb i hope to save about 25% minus the cost of a provisional license as i need ID.

    Below is my data..

    Essential Outgoings per month
    Food - £90
    Travel - £70
    Gym - £16 (£20 rounded)
    Phone - £10

    Total - £190

    Remainder...

    Spend: 1/3
    Clothes: 1/3
    Savings: 1/3

    Savings...

    Provisional - £70
    Phone - £400
    Computer - £1500 (int+sof 900, ext 600)
    Qualifications - GCSE ENGLISH, GCSE SCIENCE, A LEVEL POLITICS (£300 each)
    Debt - (Smallest first from credit report)
    Holiday inc passport - £1000
    Shares - £1000
    Masters - As much as possible


    The Phone will likely be the HTC Sensation and i will likely try to upgrade from my SIM only plan rather than pay outright, although i have a poor credit rating due to my credit binge.

    The qualifications are to improve my GCSE grades from my CV because i did not really bother with them (got D's in English and Science despite being targeted A) and Politics is just because it is interesting.

    Not exact numbers to save for but rough idea.

    After the Masters i will be saving for a car and apartment.
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    (Original post by leemkule)
    How much what, capital, dividends, flat price?
    Everything (or stuff which can be valued, I'm a newbie to shares and that lol).
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    (Original post by iPhone)
    Everything (or stuff which can be valued, I'm a newbie to shares and that lol).
    Well, >800k but less 1m, it fluctuates. I get a 5-6%ish of capital dividend income per annum.
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    (Original post by leemkule)
    Well, >800k but less 1m, it fluctuates. I get a 5-6%ish of capital dividend income per annum.
    Holy crap! Nice one man! :gthumb:

    Can you teach me how to make that much lol .

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Updated: October 19, 2014
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