New fom UK

[Nomini]

I'm a 22 y/o guy from the UK. Graduated university 17 months ago (debt-free, thankfully) and started working 14 months ago. Since I started work, I've been saving around 70% of monetary pay, but that percentage would decrease to more like 50-60% if you factor in the value of job-dependent accommodation and food benefits.

I have no great desire to leave my job, but I also think financial independence is psychologically empowering, so I'm shooting for a savings rate of 80% of monetary pay, ultimately with a desire to buy a small house in the north-west outright (if I manage to stay in the same job, saving up for this should take four years).

In the meanwhile, I am really thinking about how best to make my savings work. At the moment, I have all my money in a savings account with a net interest rate of 1%, which I'm conscious is not the best I can do.

I've seen a few people post their Myers Briggs type on here. I'm INFP, though the F is a pretty weak preference, and I take it all with a pinch of salt anyway.


TL;DR: Hi.

[MuchTooSoon]

Hey! I'm from the UK too, nice to see there's someone on here around my age.

What did you study if you don't mind me asking?

[Nomini]

Hey! I'm from the UK too, nice to see there's someone on here around my age.

What did you study if you don't mind me asking?

Hi, MuchTooSoon. Likewise, always good to find someone else in a similar position.

I studied Theology. Not an ideal money-making degree to be sure, but I did it because I genuinely think it the most important subject in the world. What about you? I saw from your thread you dropped out of university, but presumably you ended up with a foundation degree or something similar?

[MuchTooSoon]

Wow that's very interesting. So what do you do now? I'm interested in hearing what your job is like, I bet it's not something you hear about everyday given your degree choice.

Actually, I'm in the process of reassessing everything... Way too many changes happening all at once. I was advised by someone I trust a lot to just take a suspension and then decide if I still want to leave after I feel settled, and my uni agreed so we'll see. I'm not too sure of anything at the minute, but I guess it's right to not close any doors just yet then.

[Nomini]

I'm in the military, so nothing massively "out there". I find it interesting, though, and it's what I've wanted to do since my earliest teenage years.

That sounds sensible. I don't see university as the be all and end all, but, since you've already committed several years of your life to it, you should be totally certain before you turn your back for good. What's your course?

[MuchTooSoon]

Ah I see. And you're based in the North-West? Me too.

I study Psychology and Philosophy. But my interest in Psychology is at an all time low. I've changed my mind a lot on what I want to do, but the one thing I keep coming back to is self-employment of some sort or something in Management.

[Nomini]

As it happens, no, I'm based down South, but the nature of the job means not being in any particular place in the UK for an extended period, so my aspirations to buy in the NW are based on coming from there and the lower cost of living.

Ah. Not a million miles from my subject, then. Sometimes I think its worth sticking with things just to show yourself that you're capable of seeing them through, and to give your internal compass a bit of time to settle. If I were you, I'd finish the degree, and use that time to think about what you want to do next. There's nothing more dispiriting than just treading water, and it's easy to get into a rut of inaction.

[Dusty]

Hi Nomini,

I to am intrigued by your studies. Being in the Military are you working as a Chaplain? I work in the Military in Australia and am new to this site, wandering into the forums your post was the first I read, hope I am not to forward.

Regards,

Dusty

[Nomini]

Hi Dusty. Not at all. Being military yourself, you'll appreciate why I'd rather not be too specific about what I do, but I'm not a chaplain.

I see from your post you have a good few more years experience than I have, but I'm finding military life comes with its own unique challenges and benefits. Being away so much, it's generally easy for a single man to save, but on the other hand I suppose I do spend quite a lot on nights out/mess dinners/semi-compulsory socials etc. It's also very difficult to plan ahead.

[Dusty]

Nomini,

thanks for the reply mate, I appreciate you satiating my curiosity.

You are quite right - I went from the Army to Navy thinking prolonged periods at Sea would help me save but it just meant everybody spent bigger when they had the chance.

Sites like this and thinking things through rationally have helped keep me from Baa-ing and running along with all the other sheep.

I found setting myself an expenditure limit and making it physically impossible to access funds when inhibitions are lowered by alcohol (withdrawing money before hand, leaving debit cards behind) helped immensely.

Catch ya around