Turn on thread page Beta
    • #1
    • Thread Starter
    #1

    I'm 17 and work part-time on the weekends and earn almost £300 a month. At the moment I have two accounts open with Barclays, a current account and savings account. When I get paid, my wages go straight into my current account and then I transfer it straight over to my savings account. I am thinking of just having it all in my current account from now on but I'm going to have to think twice before using contactless for takeaways etc as it all adds up....

    How do you guys manage your money?

    I'm paying for my own driving lessons which come to £240 a month for a 2 hr lesson each week and then I'm left with £60.
    Offline

    21
    ReputationRep:
    I have 2 current accounts and a savings account.

    One current account for all my regular day to day money such as food shopping, entertainments etc, the other current account is for if I need to transfer big sums of money in between payments. For example if I need to set £2000 aside to pay for tuition, but it doesn't need to be paid for another month, I don't want it in my regular account so I move it to my other current account.

    And my savings account, which I keep...well my savings in :lol: where possible I try not to ever touch this money unless it's something I am planning to spend some savings on (such as a holiday) or in an emergency (rent due before money comes into my account).
    Offline

    19
    ReputationRep:
    I'm very good with money, have always been sensible and never an overspender so I'm able to keep it all in the one main account, which is what I use for everyday spending. I do have ISA's and a couple of other accounts but I barely use them.
    • #2
    #2

    Only spend on necessities. If you can honestly go without then don't buy. And cut corners wherever you can. If you are spending too much money on food or travel then cut back on food or buy cheaper alternatives and try walking more
    Offline

    15
    ReputationRep:
    Yh just save up I guess. Limit spending.
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    6
    ReputationRep:
    if you want to save up for something serious, I would say have around one or two driving lessons a month instead of four. in that way, it'll give you some money to put aside completely for when you need it. If you really want to learn to drive as well - i find that the easiest thing is to learn with a family member by your side instead. I waitress as a part time job and i put 100 quid in a separate account every month and just forget about it completely i dont even think of using it. i use another account for perosnal shopping and just have to resist the temptation of using the other card when the personal one runs out!!
    • #1
    • Thread Starter
    #1

    I’m saving up for a car at the moment and have almost 1k now in my savings account and pay for my lessons when I get paid and the rest I transfer into my savings but then I have no money left to spend in my current account??
    Offline

    10
    ReputationRep:
    I'm paying for my driving lessons too! I actually don't have a savings account, so all my money is in one place. As a kind of self control method, every time I get a bank statement through the post I highlight the necessities spending in yellow, my money Coming in in green, and my dumb spends in pink. Visually, it's terrifying to see so much pink, and I always save more after that.
    Posted on the TSR App. Download from Apple or Google Play
    • #1
    • Thread Starter
    #1

    (Original post by Arcade22)
    I'm paying for my driving lessons too! I actually don't have a savings account, so all my money is in one place. As a kind of self control method, every time I get a bank statement through the post I highlight the necessities spending in yellow, my money Coming in in green, and my dumb spends in pink. Visually, it's terrifying to see so much pink, and I always save more after that.
    How old are you and where do you work and how much do you earn a month?

    I’m learning to drive with BSM

    Still don’t know what to get for my first car it’s hard to choice something
    Offline

    10
    ReputationRep:
    17, but have been working weekends since 15. Earnings per month? Currently around £400. I work approx 10 hours every weekend ( sometimes more). I work in GAME.
    Yeah first cars are scary XD
    Posted on the TSR App. Download from Apple or Google Play
    Offline

    6
    ReputationRep:
    i'd suggest if you want more money to spend in your current account then either put a bit less into your savings account or have less driving lessons in a month
    Offline

    7
    ReputationRep:
    Transfer money into saving in small amounts but often so it doesn't feel like much but you end up saving rather quickly and efficiently as long as you don't touch it 😁.
    Posted on the TSR App. Download from Apple or Google Play
 
 
 
Poll
How are you feeling in the run-up to Results Day 2018?
Useful resources

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.