16 and planning for future
Discussion
What grade did you get for English in your GCSE's out of interest? I would have thought it needs to be decent to get in the police.
Anyway. I'd suggest sticking a percentage of your income in a ISA and don't touch it ever (25% is good). You can open one now you're 16 and it will make a big different later on in life. The rest of your salary just use as irresponsibly as you like.
Anyway. I'd suggest sticking a percentage of your income in a ISA and don't touch it ever (25% is good). You can open one now you're 16 and it will make a big different later on in life. The rest of your salary just use as irresponsibly as you like.
Xaero said:
What grade did you get for English in your GCSE's out of interest? I would have thought it needs to be decent to get in the police.
Problem is - you can get an A - C grade even if your spelling and grammar is shocking, as it's 'the content that counts'.
Back to the OP... living at home until you're 30?
That's not happening.
I wanted to add my 2p worth in terms of advice.
If you want to join the police, the college course by itself may not cut it. Get some life experience, particularly experience of dealing with difficult people or situations. Get it either by finding it through paid work, or by volunteering. You can even volunteer with the police which will get you a bit of an inside track e.g. as a special, a custody visitor, or through civilian volunteers.
Whilst wanting to save is laudible and I would encourage it, learning to live on your own without mum and dad to pick up after you is an important step in life. Can you balance the two by moving into a house share? Go travelling for a year (or VSO)?
Working in the Police, you are going to have to deal with some really s
tty situations, and probably also the prospect of the job being privatised around you. Get some perspective (i.e. life experience) as soon as you can, particularly if it'll allow you not to take things personally.
If you want to join the police, the college course by itself may not cut it. Get some life experience, particularly experience of dealing with difficult people or situations. Get it either by finding it through paid work, or by volunteering. You can even volunteer with the police which will get you a bit of an inside track e.g. as a special, a custody visitor, or through civilian volunteers.
Whilst wanting to save is laudible and I would encourage it, learning to live on your own without mum and dad to pick up after you is an important step in life. Can you balance the two by moving into a house share? Go travelling for a year (or VSO)?
Working in the Police, you are going to have to deal with some really s
tty situations, and probably also the prospect of the job being privatised around you. Get some perspective (i.e. life experience) as soon as you can, particularly if it'll allow you not to take things personally.Xaero said:
What grade did you get for English in your GCSE's out of interest? I would have thought it needs to be decent to get in the police.
Anyway. I'd suggest sticking a percentage of your income in a ISA and don't touch it ever (25% is good). You can open one now you're 16 and it will make a big different later on in life. The rest of your salary just use as irresponsibly as you like.
An officer once took a statement from me and noted down how I had 'drunk 2 pints of larger'Anyway. I'd suggest sticking a percentage of your income in a ISA and don't touch it ever (25% is good). You can open one now you're 16 and it will make a big different later on in life. The rest of your salary just use as irresponsibly as you like.
I was shocked to be honest.
OP - your attitude that spending is what you do when you've finished saving is bob-on; don't let anyone talk you out of it.
Bang as much away whilst you have few/no fixed outgoings; trust me - it will be a very long time before you'll be able to save as high a percentage of your net as you can now!
Use the quiet nights in to brush up on your spelling and composition
Bang as much away whilst you have few/no fixed outgoings; trust me - it will be a very long time before you'll be able to save as high a percentage of your net as you can now!
Use the quiet nights in to brush up on your spelling and composition
Speedy1995 said:
Thanks for the support i will try and improve my spelling and grammer . Honestly before you pointed it out and before i re read the OP i didnt think it was too bad as for living at home until im thirty i reckon i could hack it provided my parents dont drive me nuts first . 
GRAMMAR!
Life - it happens. One of the lessons that my father passed on was that his career and life was random, whereas I had always thought that he had always wanted to be doing what he did (he was very specialist) - but turns out that he it was as random as seeing a job interview offer in London, and he fancied a free train ticket to go see a girlfriend...
So, my life 16-30
16 - leave school & home
17 - work in London
18-21 University
21-23 Graduate scheme for 3 months, didn't work out. Work in London
23-25 Move to Hong Kong
25-27 Move to Japan
28 Hong Kong again
29 Indonesia.
30 Get married...
It is good to have plans, but, yeah, life happens. Never let a plan get in the way of something interesting (I was offered a position in Japan, and moved there in two weeks)
So, my life 16-30
16 - leave school & home
17 - work in London
18-21 University
21-23 Graduate scheme for 3 months, didn't work out. Work in London
23-25 Move to Hong Kong
25-27 Move to Japan
28 Hong Kong again
29 Indonesia.
30 Get married...
It is good to have plans, but, yeah, life happens. Never let a plan get in the way of something interesting (I was offered a position in Japan, and moved there in two weeks)
Speedy1995 said:
HeatonNorris said:
30 and living with parents assumes you're not shacked up with a woman - and if you're not, at 30, you're unlikely to get the pick of the prime stock
I was married with a mortgage at 25 and we were on our 3rd house by the time we were 30.
ive always been put of the long distance relationships because i always hear people moaning how they have had to sell houses and cars when they get divorced also i rarely hear of people being together there whole lives . Its not just me who would be devistated at a divorce but imagine if i had kids how horrid it would be for them .I was married with a mortgage at 25 and we were on our 3rd house by the time we were 30.
Being together for a large proportion of your life is very normal, and the most statistically likely thing to happen.
Mind you, I was of the same opinion when I was 16 - 'I'll never get married, don't see the point, like my freedom' etc.
But I found a woman who was pretty compatible with what I enjoy - she likes cars, tolerates football etc., so it works quite well for us.
OP:
When I was young I squandered all available funds in the firm belief that there was no real reason to save for an unknowable future. I also noticed that as people got older they appeared to need less money because they appeared to have lost the appetite for squandering on the things younger people squander on. So it appeared pointless to save and not squander, especially if all this saving reached a crescendo of accumulation at the very time it was least needed.
Now I'm in my 7th decade and am pleased to say I was right. I still squander all disposable funds and save not one round penny piece. I find myself requiring less and less materially as time passes. Should I ever be unable to work and entirely dependent on the state pension/minimum income guarantee for subsistence, it will create no difficulty at all, involve no hardship, and be wholly sufficient for my indolent lifestyle to continue perfectly satisfactorily until I am dead.
I have to say, though not without incredible and occasional lows, the overall experience has been HUGELY enjoyable and very satisfying. So I hope when you're an old duffer like me you can say the same thing! If you're sensible you'll soon realise that there isn't a right or wrong way to organise your life. There's just what you choose.
When I was young I squandered all available funds in the firm belief that there was no real reason to save for an unknowable future. I also noticed that as people got older they appeared to need less money because they appeared to have lost the appetite for squandering on the things younger people squander on. So it appeared pointless to save and not squander, especially if all this saving reached a crescendo of accumulation at the very time it was least needed.
Now I'm in my 7th decade and am pleased to say I was right. I still squander all disposable funds and save not one round penny piece. I find myself requiring less and less materially as time passes. Should I ever be unable to work and entirely dependent on the state pension/minimum income guarantee for subsistence, it will create no difficulty at all, involve no hardship, and be wholly sufficient for my indolent lifestyle to continue perfectly satisfactorily until I am dead.
I have to say, though not without incredible and occasional lows, the overall experience has been HUGELY enjoyable and very satisfying. So I hope when you're an old duffer like me you can say the same thing! If you're sensible you'll soon realise that there isn't a right or wrong way to organise your life. There's just what you choose.
Speedy1995 said:
Maybe as i age and see the world from a different angle i will change my mind and you never know if i find someone who is right for me i will tie the knot have kids and before you know it bye bye BMW hello sluggish zafira 
You'll be surprised how your mind changes as you grow up. Certain experiences change the way you look and reflect. Setting out a rough plan is good, planning the next 14 years of your life, not so good.So you want £32k for a house and enough money for a 'gaz guzzling beemer'.
You can pick up an old 330ci for £3k, insure it at 23 for lets say £2k. So total £37k
So from now until 23 you have 7 years to put away £37k, thats roughly £5300 per year. Every year
How does a 16yr old have enough money to put away £5300 ?
When you are 17 you may want driving lessons, you may even want a car
When 18+ you may want to go on lads holidays every year, or go to the pub every weekend
I wish you good luck for having a plan, but to be honest that amount is huge. Do the above instead and enjoy it while you can (you can always get stuck with a mortgage when you are confortable in a career 25/27
You can pick up an old 330ci for £3k, insure it at 23 for lets say £2k. So total £37k
So from now until 23 you have 7 years to put away £37k, thats roughly £5300 per year. Every year
How does a 16yr old have enough money to put away £5300 ?
When you are 17 you may want driving lessons, you may even want a car
When 18+ you may want to go on lads holidays every year, or go to the pub every weekend
I wish you good luck for having a plan, but to be honest that amount is huge. Do the above instead and enjoy it while you can (you can always get stuck with a mortgage when you are confortable in a career 25/27
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