So, I want to begin saving money..

SeatIbiza said:
How did you get a job as a QS at 18??? You need to have an accredited degree to be a chartered surveyor...
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I'm not accredited.. I am working full time whilst taking a part time degree in QS and Construction Commercial Management :) No debt and it's a sensible way of going about it - but you do miss out on student life.

kgi said:
Get an ISA to start with, it's the best investment you can start with for the amount of money you can save per month. Then read up on other possible investments and make your choices once you have a sizeable lump sum to make it worthwhile investing it.

As for hedge funds ?!!? What??! you can't invest in a hedge fund directly in your position. What exactly were your colleagues referring to?
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Thanks for the advice :)
 
Put it into investment funds, ISA accounts are ****... you can get an ISA investment fund too which have a much higher yearly maximum (I forget, something like £10k). Higher risk than a savings account or normal ISA but you'll get better returns.
 
alex_tank said:
Put it into investment funds, ISA accounts are ****... you can get an ISA investment fund too which have a much higher yearly maximum (I forget, something like £10k). Higher risk than a savings account or normal ISA but you'll get better returns.
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Sorry about sounding a bit stupid here.. but what risks can I expect? I'm guessing I could end up coming out with less money than I put in ;)
 
Nitrojan said:
Ok, so I am 18 and I have managed to work myself up to landing a job as a Quantity Surveyor.. somehow haha. I have been thinking lately that I want to do the sensible thing and begin saving money each month from my wages instead of doing what most young people do and either splash it on impulse buys, pee it up the wall or just spend spend spend on unecessary stuff.
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Excellent idea, ignore anyone who says otherwise.

If you can afford it, start an ISA for £500/month until you've used up your allowance for the year, then the rest into a savings fund for a mortgage would be my recommendation for now.
 
Current market leader is the Halifax ISA Direct Reward. Just whatever you do remember to be proactive with your savings. You'll only get a good introductory rate for a year, so remember to look around to move in a years time. I personally wouldn't go for that Virgin ISA in your position as its a maxi and managed, so higher risk and you're paying fees (1.75%).

Actually, a savings fund for a bond (after maxing out your ISA) would be my initial savings strategy as you're 18.
 
Just open a new savings account, and setup a standing order for a wedge a month (on, or as near to payday as possible). Throw away or "forget" then pin for the card associated with this account. You'll not even notice it, and after sufficient time have enough dosh to buy yourself a car or something.
 
platypus said:
Current market leader is the Halifax ISA Direct Reward. Just whatever you do remember to be proactive with your savings. You'll only get a good introductory rate for a year, so remember to look around to move in a years time. I personally wouldn't go for that Virgin ISA in your position as its a maxi and managed, so higher risk and you're paying fees (1.75%).

Actually, a savings fund for a bond (after maxing out your ISA) would be my initial savings strategy as you're 18.
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Thanks very much, just the sort of advice I was looking for. Much appreciated :) where should I look for a bond?
 
Nitrojan said:
Thanks very much, just the sort of advice I was looking for. Much appreciated :)
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You're most welcome. I should add at this point that I'm not a financial advisor, just someone who knows a fair bit about it as I do a lot of research and am in good control of my finances. You might do well to get some advice from one, but if I were in your position that is pretty much what I would go for :).
 
Marky said:
It's just a saying -- And good job on all the sex you're having -- Bravo! :p
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It isn't just a saying though, is it? I've never heard it used as just a saying anyway.

You assumed that because I like model railways I must be a lonely, inept, sad nerd of some sort where as in reality I spend a large part of my spare time on booty calls.

I don't even own a model railway because I haven't got the space in between all my other interests.
 
Captain_Slick said:
It isn't just a saying though, is it? I've never heard it used as just a saying anyway.

You assumed that because I like model railways I must be a lonely, inept, sad nerd of some sort where as in reality I spend a large part of my spare time on booty calls.

I don't even own a model railway because I haven't got the space in between all my other interests.
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Booty Calls? You little stud muffin :p :D

Ooo that's a saying! :)
 
Just to echo all the other sensible heads in this thread; the only sensible thing to do at the moment is to open an ISA and find shares paying a good dividened.

Aviva were (up until yesterday, which was when I last looked) paying a ~6% dividend, which beats your highstreet bank by a fair margin. Plus it's tax free!

Of course YMMV, your investments may go up and down, cats may start to scratch the furniture, the moon may start to rotate the opposite way and up might become down.
 
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