What to do with money?

[at106]

I'm 17 and i've recently started a 4 year apprenticeship, i live at home so don't have to pay much rent! I should earn £719 per month after tax and other stuff and i plan to save as much of it as possible. So where should i put it?

Thanks

[N cee thirty]

buy a load of 2t's that are only gonna go up in value

or maybe gold
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'00 Aprilia RS50 > '92 Honda CG > '99 Yamaha Fazer > '91 Yamaha RXS > '79 Suzuki X5 > 01' Honda Cg > 07' Honda Cg > 82' Kawasaki Z200 > suzuki gsxr 400 gk73a > honda vfr 400 NC30 Mod 2 Passed 09/06/2011

Jewlio Iglesias wrote: I actually did vote BNP once

[Fisty]

Invest it in Nobcat IT.

Belive me, you wont save it. You will discover what your penis is for, alcohol and motorbikes.
You will spunk the lot.

I know. I did.

Best 4 years of my life.
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Quietly and consistently taking the piss.
TL1000R | Hayabusa | ZXR400 | TL1000S | Bandit 400 V
Fatter and faster than Fret

[U_W v2.0]

put it in a ISA or something and forget about it for a year or until you hit the balance limit.
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BCF's biggest cunt list: Cansa, Pits, Rob

[drzsta]

Fairplay if you can save.

I did far more interesting stuff like spunk it on bikes. What's the point of being your old mans age and regretting that you should of done this or that.
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Current Bikes - BMW S1000RR ‘17 & KTM 690 SMC-R ‘12

[tbourner]

Agree with Fisty and drzsta, go and buy loads of expensive fast shit and have an awesome time.




Just don't die.
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Trev, now a biker?
Looking for first big bike.

[Lord Percy]

I'm gonna counter the words of the other people.....

If you can save half (or more) of your wage every month, then do it. There'll come a time when you want to do something/buy something or whatever, and having those savings will be the most awesome bonus ever.

If you don't get the urge to waste all your money on booze and shit, then don't.

In a couple of years you could be care free, travelling the world for a year or more, all off your savings!

[at106]

As much as i'd love more bikes i don't have the space

An ISA sounds like a good idea so i'll get a bit more info on them

[P.addy]

[owl10]

[Dex]

As a ballpark....


If you put £150 a month into a pension, but the time you retire that alone will give you an income of ~£800 a month.


When I was 17 there was no way on earth I was interested in saving money, I wanted to spend every bit that I could on bikes, drink and girls.


But... The sooner you start a pension the bigger it is and earlier you can retire/ cut down on working and concentrate on bikes, drink and girls

[Kradmelder]

Enjoy yourself yes, but put it in to an investment with like 10 year growth. Don't waste it on women: that is a total waste. The ones that are worthwhile wont be after money anyway. Then you will a deposit for a house when its time to settle down. Then instead of young girls out for cash you will have them after your assets to raise a family lol! And divorcing you to take the house and kids lol!

The reason people can't buy homes today is they don't start young when they have few expenses.

Perhaps in 5 years you choose to go and study. You will have savings to tap in to
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2011 KTM 990 Dakar
2009 BMW 1200 GS

[Rogerborg]

Save every penny and that's £8.5K a year x 4 years = £34K. That might be enough for the deposit on a bedsit with chalk outline still on the floor.

Oi, 'ave a banana.
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Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[Kradmelder]

[Joncrete Cungle]

I would save 25% again if I was 17 again. I put my money into a savings account my mum opened in my name. It stopped me blowing the cash on shit, kept it away from the prying eyes of the state and I had a pretty good time spending the other 75%.

[Kradmelder]

[stinkwheel]

Invest in yourself.

Do your driving test if you haven't already done so, it makes you much more employable and with the rate the test fees are going up, you'll be getting a better return on your money than any savings scheme.
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“Rule one: Always stick around for one more drink. That's when things happen. That's when you find out everything you want to know.”
I did the 2010 Round Britain Rally on my 350 Bullet. 89 landmarks, 3 months, 9,500 miles.

[fatpies]

[Kradmelder]

[daemonoid]

www.getrichslowly.org recommend a balanced split of 50% needs, 30% wants and 20% savings. You don't have many needs so you should follow the split but increase your wants and savings.

Lets say you spend £100 on board (your parents will appreciate it even if it's a small amount). At least £100 on getting to work and the odd lunch. Leaves about £500. Split that £300 on whatever the hell you like and £200 into savings.

I'd put £100 into something a bit speculative - stocks and shares ISA probably and £100 into something easy access and safe (standard savings account).

Many people forget the balance - you want to enjoy yourself otherwise it's pointless but you also need to tuck something away. Even if it's just for a deposit on a rental. Depending on where you live nearly £9.6k (4years of £200) could be a decent deposit on a small place of your own too!
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@thomasgarrard | www.straitjkt.com | www.racingseven.com

[Alpha-9]

And you don't have any outgoing at all?

It will be spent, oh yes, it will be spent. I couldn't live off that even living at my mums.
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Fzr-600 1999

[Kradmelder]

[fatpies]

Maybe for South Africa. But traditional pensions in the UK pensions are generally a scam. I learned the hard way, paying into it and few years later the fund was worth less than I'd put in. Hell you might get bob Maxwell'd


There are all sorts of fees and charges that pummel your pension fund even more. Pile ont he bad stock market and constant devaluing of quids. And the thing you were deraming of probably won't happen.

BTW I do not save in a traditional pension plan. I invest in Rands. Kruggerands
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"It's easy to attack and destroy an act of creation. It's a lot more difficult to perform one"

[Kradmelder]

[hedgehugger]