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How much are you saving before you start? HELP Watch

  • View Poll Results: How much are you saving until your first pay?
    £0-200
    1
    100.00%
    £200-500
    0
    0%
    £500-800
    0
    0%
    £800-1000
    0
    0%
    £1000+
    0
    0%

    • Thread Starter
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    For those of you starting your grad job this summer, how much money are you saving before you start?

    Clothes, travel, food etc? OFC, all until your first pay + bonus.
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    (Original post by Nehemiah'sFaith)
    For those of you starting your grad job this summer, how much money are you saving before you start?

    Clothes, travel, food etc? OFC, all until your first pay + bonus.
    Wouldn't you have summer internship savings + signing bonus?

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    (Original post by Princepieman)
    Wouldn't you have summer internship savings + signing bonus?

    Posted from TSR Mobile
    No. Most people don't do a summer internship the summer before they start work. And signing bonuses are usually payed with the first pay check, after significant expenses have already been incurred.

    To OP, you need 2 months rent minimum (1200 to 2000 total) plus fees, call it 1600 to 2400 upfront costs. Some places might want more (deposit could be six weeks instead of four).

    Everything except rent (clothes, food, travel, whatever) put on a credit card in the month before payday (you need a credit card), to pay off with your first check. This means you won't pay any interest on the balance.
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    (Original post by throwawaycon)
    No. Most people don't do a summer internship the summer before they start work. And signing bonuses are usually payed with the first pay check, after significant expenses have already been incurred.

    To OP, you need 2 months rent minimum (1200 to 2000 total) plus fees, call it 1600 to 2400 upfront costs. Some places might want more (deposit could be six weeks instead of four).

    Everything except rent (clothes, food, travel, whatever) put on a credit card in the month before payday (you need a credit card), to pay off with your first check. This means you won't pay any interest on the balance.
    So I already live in London with my parents so my sole focus is travel + clothes + food.

    I'm going straight into the grad role so no internships etc.
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    (Original post by Nehemiah'sFaith)
    For those of you starting your grad job this summer, how much money are you saving before you start?

    Clothes, travel, food etc? OFC, all until your first pay + bonus.
    I'd say £3,000 is a high but realistic number if you include new suits, clothes, rent, food etc. If you're living at home, then you can absolutely slash down that figure though.

    Unfortunately the wait until the first pay cheque is a painful one.

    Some banks do give you a signing bonus before you start though.

    Posted from TSR Mobile
 
 
 
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