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    Everyone seems to have a lot more than me.

    I'm 23, and have £8350.

    Should I be saving more? Thing is, as much as I love saving, I feel like I want to spend a bit on something. I don't spend much on me.

    Thank you
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    For a 23 year-old, that's a lot!
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    I have a savings account for me but I don't know how much I exactly have.
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    Not including wedding budget, a similar figure to you but I inherited most of it (although I m making an effort to save more of my wages each month now)

    We re saving for a house and I always want to have an emergency fund so plenty for me it save for. Guess it depends if you have something specific you need to save for?
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    (Original post by claireestelle)
    Not including wedding budget, a similar figure to you but I inherited most of it (although I m making an effort to save more of my wages each month now)

    We re saving for a house and I always want to have an emergency fund so plenty for me it save for. Guess it depends if you have something specific you need to save for?
    Aw congratulations!

    That's from work that I've saved. I just don't know what to spend on! aha
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    (Original post by 2scotty)
    Aw congratulations!

    That's from work that I've saved. I just don't know what to spend on! aha
    Thank you if property isn't something you want then that amount would get you a pretty kick ass holiday?
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    I have £90 savings in my bank account ( I refuse to give them a penny more due to terrible interest rates).

    I also have around £29,000 in my broker account. This is mainly composed of shares.
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    (Original post by claireestelle)
    Thank you if property isn't something you want then that amount would get you a pretty kick ass holiday?
    I'd love to go travelling but don't have anyone to go with! I need to learn to drive too! My dream would be a mini rover... the 2000 model... navy blue haha.
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    (Original post by 2scotty)
    Everyone seems to have a lot more than me.

    I'm 23, and have £8350.

    Should I be saving more? Thing is, as much as I love saving, I feel like I want to spend a bit on something. I don't spend much on me.

    Thank you
    Don't save, especially in our low interest rate environment.

    Put the money in a fund, so it is invested in the market. I recommend
    HL Select Shares (Accumulation) and Kotak India Mid Cap (Accumulation).

    Both funds are there on the Hargreaves Lansdown website. Open up a stocks and shares ISA, put the money there, I suggest 80/20 split between the two funds, more in HL Select Shares, less in Kotak India Mid Cap. Expect volatility.
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    About £30k but have about £20k of credit card debt so £10k net.
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    (Original post by Sternumator)
    About £30k but have about £20k of credit card debt so £10k net.
    I never understood how people get credit card debt and so much, don't the banks start charging interest on missed payments? And eventually just take away your credit card?
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    I have like £200 :rofl: I had about 8000 before from loans and work but keep getting in emergencies
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    (Original post by 2scotty)
    I'd love to go travelling but don't have anyone to go with! I need to learn to drive too! My dream would be a mini rover... the 2000 model... navy blue haha.
    Driving is a good investment
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    (Original post by MrMarket)
    I never understood how people get credit card debt and so much, don't the banks start charging interest on missed payments? And eventually just take away your credit card?
    They would do eventually but minimum payments can be quite low so some people could just pay that for a while whilst the interest keeps building up, for example my credit card has a 2.5k limit and the minimum payments only a fiver (its 0% for 18 months but I d never dare get near the limit )
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    I don't even have a bank account never mind savings but if your really interested it's £0.00 👌🏼
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    Cash & Shares: £49k
    Pension: £32k
    House Equity: £89k
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    £300
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    (Original post by claireestelle)
    They would do eventually but minimum payments can be quite low so some people could just pay that for a while whilst the interest keeps building up, for example my credit card has a 2.5k limit and the minimum payments only a fiver (its 0% for 18 months but I d never dare get near the limit )
    Ok I understand, I always see the minimum payment thing on the top of my statement but I never do that because I'm always in fear of being charged interest.

    I literally use my credit card like a debit card, I pay it off after every 2-3 days.

    My limit is terrible though, £500, though I've never asked for it to be raised and I hate HSBC with a vengeance. I really only use my bank account to take in money, I store like £90-£100 in it to pay off my credit card.

    Most of my money is in my stockbroking account and held in shares, where I can get a return and dividends (which are used to buy even more shares). But I am pretty angry with the banks for screwing over savers, when I have to use the stock market as a savings account, you know something is wrong.

    Btw you can use the stock market as a savings account if you buy shares which are not very volatile (low market beta we call them). Things like Unilever, Diageo etc
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    (Original post by Reue)
    Cash & Shares: £49k
    Pension: £32k
    House Equity: £89k
    How do you have so much lol? Are you a uni student or do you have a job? I'm guessing the latter but still, that's a huge amount of savings
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    (Original post by Reue)
    Cash & Shares: £49k
    Pension: £32k
    House Equity: £89k
    You can't mention House Equity. :P

    Unless you can convince me.....
 
 
 
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