yes thats right
whenever i delve into the delights held within these boards, i come out feeling more confused and stupider than before
and i think perhaps this thread might be moved so i apologise in advance if it does have to be moved
anyway, my predicament is this
i am working in a fairly low paid job and i have no social life (bummer)
but i never go out drinking or eating or anything, so i have a decent amount of savings to my name (hurray)
the question is, what do i do with it
currently i have 2 worthless boi savings accounts with about 15 thousand in there
and i have a credit union account with another 15 thousand
i know there are better savings options around and i had applied for a rabo direct account online, but then the whole northern rock thing happened and i got cold feet
now i have started again to think about money and i was looking for suggestions on what to do with this money
i have no house and on my current wage i couldnt really afford any kind of mortgage
i have no pension and no qualifications to get a better job
so im not sure what to do
it seems like a pension is pointless when you have no house to live in
if i decide to go back to school then thats a big chunk out of my savings that will take time to claw back
but if i did try to stretch for a mortgage now then i would be stuck in my crap job having a big bill to pay at the end of every month
so i was just wondering what you guys would do in this situation
Age: 24
Spouse’s/Partner's age: see social life status above
Annual gross income from employment or profession: 23000
Type of employment: manual labour type thing
Expenditure pattern: dont spend too much, could cut down easily as i am quite tight
Other borrowings: 5000 car loan from credit union
Do you pay off your full credit card balance each month? yep
Savings and investments: none
Do you have a pension scheme: nope
Do you own any investment or other property: none
Ages of children: none
Life insurance: none
i should probably also mention that things like apr, aer, ecb, and economics in general are a complete mystery to me
thanks in advance
whenever i delve into the delights held within these boards, i come out feeling more confused and stupider than before
and i think perhaps this thread might be moved so i apologise in advance if it does have to be moved
anyway, my predicament is this
i am working in a fairly low paid job and i have no social life (bummer)
but i never go out drinking or eating or anything, so i have a decent amount of savings to my name (hurray)
the question is, what do i do with it
currently i have 2 worthless boi savings accounts with about 15 thousand in there
and i have a credit union account with another 15 thousand
i know there are better savings options around and i had applied for a rabo direct account online, but then the whole northern rock thing happened and i got cold feet
now i have started again to think about money and i was looking for suggestions on what to do with this money
i have no house and on my current wage i couldnt really afford any kind of mortgage
i have no pension and no qualifications to get a better job
so im not sure what to do
it seems like a pension is pointless when you have no house to live in
if i decide to go back to school then thats a big chunk out of my savings that will take time to claw back
but if i did try to stretch for a mortgage now then i would be stuck in my crap job having a big bill to pay at the end of every month
so i was just wondering what you guys would do in this situation
Age: 24
Spouse’s/Partner's age: see social life status above
Annual gross income from employment or profession: 23000
Type of employment: manual labour type thing
Expenditure pattern: dont spend too much, could cut down easily as i am quite tight
Other borrowings: 5000 car loan from credit union
Do you pay off your full credit card balance each month? yep
Savings and investments: none
Do you have a pension scheme: nope
Do you own any investment or other property: none
Ages of children: none
Life insurance: none
i should probably also mention that things like apr, aer, ecb, and economics in general are a complete mystery to me
thanks in advance