I have no idea how I will ever have more than £50,000
Even reaching £50k feels like it will take a lifetime. How am I meant to buy a house like this? I see people my age on YouTube (age 23) buying BTL properties, going on luxury holidays, etc... I've never left the country and at this rate I never will. How do you guys do it? Right now I live off £80 a week and am barely scraping by. Thanks for any help
Original post by ForeverSkintBoy
Even reaching £50k feels like it will take a lifetime. How am I meant to buy a house like this? I see people my age on YouTube (age 23) buying BTL properties, going on luxury holidays, etc... I've never left the country and at this rate I never will. How do you guys do it? Right now I live off £80 a week and am barely scraping by. Thanks for any help
Its unlikely many 23yr olds are buying BTL properties, you're only seeing the tiny minority because those are the ones showing it off.
Do you work full time? What are your current expenses? Do you have a partner to split costs with?
Original post by Reue
Its unlikely many 23yr olds are buying BTL properties, you're only seeing the tiny minority because those are the ones showing it off.
Do you work full time? What are your current expenses? Do you have a partner to split costs with?
Do you work full time? What are your current expenses? Do you have a partner to split costs with?
Hi thanks for your reply. It's not only people online that I see doing this - I know a couple of people in my immediate friendship group who are in the middle of building their own buy-to-let portfolios. One of these friends started at only 20 years old. I don't know how they get the money as their families don't seem particularly rich.
I work full time and I'm on 18k as an admin assistant in an office. I've worked here for 3 years without getting a raise; I never missed a day and regularly do unpaid overtime so I'm not sure what else I have to do in order to get a promotion. I'm scared to try and leave this job to find another one in case I don't find something and I end up ruining my life.
I am single so I have no one who can help me
Original post by ForeverSkintBoy
Hi thanks for your reply. It's not only people online that I see doing this - I know a couple of people in my immediate friendship group who are in the middle of building their own buy-to-let portfolios. One of these friends started at only 20 years old. I don't know how they get the money as their families don't seem particularly rich.
I work full time and I'm on 18k as an admin assistant in an office. I've worked here for 3 years without getting a raise; I never missed a day and regularly do unpaid overtime so I'm not sure what else I have to do in order to get a promotion. I'm scared to try and leave this job to find another one in case I don't find something and I end up ruining my life.
I am single so I have no one who can help me
I work full time and I'm on 18k as an admin assistant in an office. I've worked here for 3 years without getting a raise; I never missed a day and regularly do unpaid overtime so I'm not sure what else I have to do in order to get a promotion. I'm scared to try and leave this job to find another one in case I don't find something and I end up ruining my life.
I am single so I have no one who can help me
Sounds like they got the money from inheritance.
You mention that you work hard, do unpaid overtime.. so why would they pay you more? Only way you get pay rises these days is to move job. I'd not have any loyalty to somewhere, especially for 18k! Find another job then leave your current one, dont leave until you have something else to go to.
Most people who buy houses do so as a couple. It could be you and a mate rather than a partner..
Original post by ForeverSkintBoy
Even reaching £50k feels like it will take a lifetime. How am I meant to buy a house like this? I see people my age on YouTube (age 23) buying BTL properties, going on luxury holidays, etc... I've never left the country and at this rate I never will. How do you guys do it? Right now I live off £80 a week and am barely scraping by. Thanks for any help
Very few 23 year olds will be buying BTL properties and if they are even fewer will be doing it without help from Mummy and Daddy. Plus, a lot of lenders wont lend for a BTL for people under 25 too. (I work for one) and on the buying a house - very few people do it on their own.
Dont judge yourself against 'Influencers' - they are in the minority.
If you earn 18,000 thats £346 a week - not £80, so what do you mean by 'live off' - where is the other £266 going?
The first thing to do is at expenditure - are you buying things you dont need?
Im not denying it is hard to buy a house - especially on your own (I am). I know the feeling.
Do you have any skills or hobbies you could potentially make money from on the side?
This is a lie. Staying a worker will not give you that lifestyle where as saving and investing is your path to financial freedom to purchase a house etc. But everyone has different circumstances i suppose.
Original post by Jack22031994
Very few 23 year olds will be buying BTL properties and if they are even fewer will be doing it without help from Mummy and Daddy. Plus, a lot of lenders wont lend for a BTL for people under 25 too. (I work for one) and on the buying a house - very few people do it on their own.
Dont judge yourself against 'Influencers' - they are in the minority.
If you earn 18,000 thats £346 a week - not £80, so what do you mean by 'live off' - where is the other £266 going?
The first thing to do is at expenditure - are you buying things you dont need?
Im not denying it is hard to buy a house - especially on your own (I am). I know the feeling.
Do you have any skills or hobbies you could potentially make money from on the side?
Dont judge yourself against 'Influencers' - they are in the minority.
If you earn 18,000 thats £346 a week - not £80, so what do you mean by 'live off' - where is the other £266 going?
The first thing to do is at expenditure - are you buying things you dont need?
Im not denying it is hard to buy a house - especially on your own (I am). I know the feeling.
Do you have any skills or hobbies you could potentially make money from on the side?
The other £266 mainly goes on rent, travel (for work), bills and other unavoidable expenses. The £80 is for food, clothing, living life in general, utensils, etc. Doesn't go far
I don't even go out with friends as I can't afford it so I really don't see anywhere I can cut down.
I really am not sure on the side hustle part... I'm scared to invest money in anything. I cycled for deliveroo a while back but my bike got stolen
Original post by ForeverSkintBoy
The other £266 mainly goes on rent, travel (for work), bills and other unavoidable expenses. The £80 is for food, clothing, living life in general, utensils, etc. Doesn't go far
I don't even go out with friends as I can't afford it so I really don't see anywhere I can cut down.
I really am not sure on the side hustle part... I'm scared to invest money in anything. I cycled for deliveroo a while back but my bike got stolen
I don't even go out with friends as I can't afford it so I really don't see anywhere I can cut down.
I really am not sure on the side hustle part... I'm scared to invest money in anything. I cycled for deliveroo a while back but my bike got stolen
So youve got £80 a week disposable cash? Thats not that bad especially as a single person. Do you save anything?
Original post by Jack22031994
So youve got £80 a week disposable cash? Thats not that bad especially as a single person. Do you save anything?
The £80 isn't disposable that's for my food and everything, truly disposable is probably less than £10
I can't save on that
Original post by ForeverSkintBoy
The £80 isn't disposable that's for my food and everything, truly disposable is probably less than £10
I can't save on that
I can't save on that
Is there nobody that can help you out ?
Original post by Gloomymillennial
I have 2 ****ing million and 15 rentals bro
you dont.
Original post by ForeverSkintBoy
Even reaching £50k feels like it will take a lifetime. How am I meant to buy a house like this? I see people my age on YouTube (age 23) buying BTL properties, going on luxury holidays, etc... I've never left the country and at this rate I never will. How do you guys do it? Right now I live off £80 a week and am barely scraping by. Thanks for any help
I come from a council estate and working class background, I had no-one to inherit things from and the ones I did had nothing worth inheriting.
But that is how most people do it: the bank of mum and dad, or living inheritance, or inheritance from a well-off distant Aunt, etc.
Unfortunately the hard way takes a very very long time. The hard way is what a lot of people do and you won't be reading their instagram posts or hearing them brag about their inability to take a holiday that isn't camping that year.
Best advice I have: accept deeply that everyone's path is their own and the advantages some people have feel unjust but you need to focus on what you can do for you. What you can do for you is to budget, build up great habits that puts aside money as much as you can as soon as you can and keeps doing this. It's surprising how once you get a good rhythm it does start accruing. It takes a long time, the years slip by, but you will achieve it and when you do you have every right to feel super smug that you did this, everything you have will be from your toil, you earned it. The people you see now and struggle with, they will never have earned theirs but you will have earned yours.
18,000 is 1325 per month.
Almost anywhere in the country you can rent a room with all bills included for £400 a month, and in many places that will get you a nice double room. In most places you can get a room for much cheaper, but let's assume £400.
A single person can easily feed themselves for £200 a month. Far less honestly, but let's over-budget for the sake of argument.
You mention travel. Perhaps you absolutely have to drive for work (though if you do and are not being paid mileage you are being taken for a ride). It is hard to guess how much you need for this, but for a small cheap car let's say £200 a month for insurance and petrol etc.
Now let's assume a phone contract, a Netflix account and some amount of unnecessary expenditure each month too at £100 so you can see your mates.
This leaves you £425.
Sling £80 per month into a Vanguard account or whatever else you fancy (workplace pension payments etc.).
You can max out the LISA at £333 per month saving you, effectively, £5k per year towards a house. Now, if you are unlucky enough to be on 18k in Oxford or London, for example, then you will be saving like this for a long time admittedly. If you are almost anywhere Birmingham upwards you can buy fairly swiftly with a decently favourable LTV.
If you get a job that requires much less travel or you improve your salary then the rate of savings goes up. Realistically, if you lived very frugally you could save £600+ a month even on your salary assuming you have no large debts you are paying back etc.
Also consider retraining. Do the AAT qualifications in your spare time, become nurse or try to find a way to survive an apprenticeship and become a bricklayer or similar and earn good money.
Almost anywhere in the country you can rent a room with all bills included for £400 a month, and in many places that will get you a nice double room. In most places you can get a room for much cheaper, but let's assume £400.
A single person can easily feed themselves for £200 a month. Far less honestly, but let's over-budget for the sake of argument.
You mention travel. Perhaps you absolutely have to drive for work (though if you do and are not being paid mileage you are being taken for a ride). It is hard to guess how much you need for this, but for a small cheap car let's say £200 a month for insurance and petrol etc.
Now let's assume a phone contract, a Netflix account and some amount of unnecessary expenditure each month too at £100 so you can see your mates.
This leaves you £425.
Sling £80 per month into a Vanguard account or whatever else you fancy (workplace pension payments etc.).
You can max out the LISA at £333 per month saving you, effectively, £5k per year towards a house. Now, if you are unlucky enough to be on 18k in Oxford or London, for example, then you will be saving like this for a long time admittedly. If you are almost anywhere Birmingham upwards you can buy fairly swiftly with a decently favourable LTV.
If you get a job that requires much less travel or you improve your salary then the rate of savings goes up. Realistically, if you lived very frugally you could save £600+ a month even on your salary assuming you have no large debts you are paying back etc.
Also consider retraining. Do the AAT qualifications in your spare time, become nurse or try to find a way to survive an apprenticeship and become a bricklayer or similar and earn good money.
Original post by ForeverSkintBoy
Hi thanks for your reply. It's not only people online that I see doing this - I know a couple of people in my immediate friendship group who are in the middle of building their own buy-to-let portfolios. One of these friends started at only 20 years old. I don't know how they get the money as their families don't seem particularly rich.
I work full time and I'm on 18k as an admin assistant in an office. I've worked here for 3 years without getting a raise; I never missed a day and regularly do unpaid overtime so I'm not sure what else I have to do in order to get a promotion. I'm scared to try and leave this job to find another one in case I don't find something and I end up ruining my life.
I am single so I have no one who can help
I work full time and I'm on 18k as an admin assistant in an office. I've worked here for 3 years without getting a raise; I never missed a day and regularly do unpaid overtime so I'm not sure what else I have to do in order to get a promotion. I'm scared to try and leave this job to find another one in case I don't find something and I end up ruining my life.
I am single so I have no one who can help
Have you tried directly asking for a pay rise?
Have you considered a career change? Doing a part time adult education course?
Perhaps you could browse some jobsites. You don't have to hand your notice in until you have a formal job offer.
Another thought- would you describe yourself as being overly anxious or unconfident ? If so have you ever tried to work on those issues yourself? Or have you ever considered getting some professional help?
I understand some of how you feel. 
For many years the majority of my income went on paying London accomodation costs.
I couldn't save at all and amassed tens of thousands in credit card debt.
Before 2021- I was living on under £30 a week after paying rent & bills, working weekends and had several part time jobs around my postgrad studies & volunteering.
Check whether you can reduce some of your expenses and try to save up a small amount of money per week towards a 'holidays' or 'extras' fund.
Can you reduce your accomodation costs by sharing accomodation with a friend or moving to a cheaper houseshare?
Cut the number of monthly direct debits for entertainment purposes like gym subscriptions, mobile phone packages & data charges.
Homecook from scratch instead of buying ready meals and takeaways.
Bring a refillable water bottle or a flask of coffee into work with you.
If you are in the habit of snacking or eating lunch, prepare yourself some fruit/a fresh salad or a homemade packed lunch.
Consider widening your skillset, look into some part time work or freelancing and increase your networking efforts & contacts.
Good luck!
For many years the majority of my income went on paying London accomodation costs.
I couldn't save at all and amassed tens of thousands in credit card debt.
Before 2021- I was living on under £30 a week after paying rent & bills, working weekends and had several part time jobs around my postgrad studies & volunteering.
Check whether you can reduce some of your expenses and try to save up a small amount of money per week towards a 'holidays' or 'extras' fund.
Can you reduce your accomodation costs by sharing accomodation with a friend or moving to a cheaper houseshare?
Cut the number of monthly direct debits for entertainment purposes like gym subscriptions, mobile phone packages & data charges.
Homecook from scratch instead of buying ready meals and takeaways.
Bring a refillable water bottle or a flask of coffee into work with you.
If you are in the habit of snacking or eating lunch, prepare yourself some fruit/a fresh salad or a homemade packed lunch.
Consider widening your skillset, look into some part time work or freelancing and increase your networking efforts & contacts.
Good luck!
Start hustling hard and get a better paying job and stop being a little biatchh
Your basically broke in London unless you are on 80-100k+
Get yall money up bro
Your basically broke in London unless you are on 80-100k+
Get yall money up bro
I get it. I have been there. Just know people don't tell you the worst part of their lives on social media, only the best parts. And comparison kills joy, focus on your path. Turn off the noise.
Polish your CV and try and apply for some jobs. Update your LinkedIn and respond to recruiter messages.
You don't have to get a new job right now - but understand how your CV fares and what the market rate is for someone with your experience are valuable in your negotiation.
A job spec is only a wish list of what an employer wants, apply if you think you fit 60% of the description. Who knows - you might get the job, or get some interview experience! You will grow more confident in the process.
Last but not the least, keep a budget for a month and figure out where you spend your money. It's an eye opening exercise.
Good luck!
Polish your CV and try and apply for some jobs. Update your LinkedIn and respond to recruiter messages.
You don't have to get a new job right now - but understand how your CV fares and what the market rate is for someone with your experience are valuable in your negotiation.
A job spec is only a wish list of what an employer wants, apply if you think you fit 60% of the description. Who knows - you might get the job, or get some interview experience! You will grow more confident in the process.
Last but not the least, keep a budget for a month and figure out where you spend your money. It's an eye opening exercise.
Good luck!
great advice on this thread.
mine is a bit more humble. not everyone in this country was meant to have a BTL portfolio, own a home in expensive areas, drive a flashy car. i know several people who are still renting in their thirties out of necessity. why? because they haven't saved enough for a deposit yet and don't/can't move to a cheaper area. a sad fact of life is that many young people will never own property let alone more than one property and many will struggle to even put food on the table. lower your expectations or try to get a higher salary.
mine is a bit more humble. not everyone in this country was meant to have a BTL portfolio, own a home in expensive areas, drive a flashy car. i know several people who are still renting in their thirties out of necessity. why? because they haven't saved enough for a deposit yet and don't/can't move to a cheaper area. a sad fact of life is that many young people will never own property let alone more than one property and many will struggle to even put food on the table. lower your expectations or try to get a higher salary.
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