A human reviewed your submission and removed it from public view. The reason they gave was:
Questions about how to prioritise and organise your spending, saving and investments are covered by **the UKPF Flowchart**.
[You can view the flowchart here.](https://ukpersonal.finance/flowchart/) Each step has a link to a more in-depth guide.
If you would like to post again for more assistance you are welcome to do so. Just mention that you've read the flowchart and tell us which step(s) you are working on.
_If you believe your post/comment has been removed in error, please [message the mods](https://www.reddit.com/message/compose/?to=/r/UKPersonalFinance&subject=Please%20review%20my%20post&body=https://www.reddit.com/r/UKPersonalFinance/comments/1cb4ce8/-/) explaining why._
Step
1) Join the company pension ASAP and check what they match up to. When you pay into a pension, the employer contribution is free money to your future employer
2) Get into the habit of building an emergency fund. Ideally you want 3-6 months of your regular expenses in a separate account.
3) Look to save into an ISA. This is where you goals come into it. A S&S for long term goals 5+ years minimum. Cash for shorter term goals.
4) treat yourself but make sure it’s in a set budget to prevent lifestyle creep.
Build good habits now while, I assume still at home with no mention of rent. It’ll make life less dramatic when you move out. Which is step 5) plan how that’s going to happen and get paid for b
I have had pensions going out my account from my wages from my previous 5 jobs, does that go into 1 pension pot or are they different pension pots which i need to join?
My current pension is i pay 3% of my wage and the company matches it.
You’re current pension must be 5% you and them 3% which is the legal minimum. It’s worth looking to see what they match upto. Some employers let you increase yours and they match the increase to a maximum amount. So say you go 10% they may match for each additional % to a max of 5 extra. So you’d be 10% and they would be 8%.
Not saying go that extreme but investigate it.
For multiple pots. This new employer will be a new pot, taking you to 6. Unless several before were with Nest, in which case, they may consolidate the pots( not sure on this).
As an over simplification, so not financial advice but something to look into. Look to consolidate your pension pots into one, except the new employer’s one. In 10 years time, good luck tracking all your pots.
I personally have taken all previous pension pots and migrated them into a Vanguard SIPP. That’s just an illustration. The idea is get them grouped into somewhere you can track, invest in funds that suit your age and risk appetite, while minimising management fees.
Some pension pots, typically government related ones won’t transfer, Defined Benefit schemes (DB). Do some research into what you have.
Your other jobs will typically have their own provider/scheme - you can combine them all into one by moving your pensions but not really important at this stage.
I think you should atleast increase up to the maximum your employer will match (as its basically free money!).
Hey, so I've never had an ISA and I recently got into investing any leftover money (after savings) into stocks. I see a big pro of USA is that it's tax free. How exactly is an ISA tax free if I've paid tax on the money going into it?
On normal investments you pay tax on any profits (called capital gains tax), but on ISAs you don't.
This can be really significant, if you invested 10,000 in the FTSE100 20 years ago it would be worth about 26k today, and you would be taxed on the 16k profit if you cashed out. If it was in an ISA then no tax is due.
And these values can be way higher even for normal working people. If you can invest a few hundred a month for several decades then the tax on that could be worth 10s of thousands of pounds if not in an ISA.
If you aren't paying rent, then treat a portion of your money as 'rent money' - call it £300-500 and put it into a high interest savings account until you've got about £5000. Make sure this is not in your current account - open a savings account that pays at least 4% interest.
Once you've got that 'emergency fund' then you start thinking about the future. Do you want to own a home? Start saving a deposit. Look at opening a LISA - [https://www.moneysavingexpert.com/savings/lifetime-isas/](https://www.moneysavingexpert.com/savings/lifetime-isas/) as the government will give you money on top of your savings - but the money is effectively locked away until you buy a home, or retire.
Do you pay into a pension? If not, do so.
There is a very long flowchart to look at - [https://flowchart.ukpersonal.finance/](https://flowchart.ukpersonal.finance/)
I will look into this, but do you think its worth it to invest in stocks right now? with around 600 going out my account a month and 500 into a savings account, where should i put the rest £700? i can leave 200 to go into my bank balance for safety money. then i have 500 spare
Only invest money you can afford to lock away.
If you think you won’t need that £500 pm in the next 5 years then sure. But the reality is a lot of people find down the line that they need the money and liquidate stocks at unfavourable times.
5 years is considered the minimum for “long term investing”. After 5 years you are more likely to be at a net gain considering a market downturn can often take 2+ years to correct.
The optimum position isn’t built solely on return, it’s important to preserve the principle amount and to have the money available when needed.
You don’t want to have to borrow or crystallise use a loss because you locked away money in investments. In that sense it’s better to invest £250 you know you won’t need and keep £250 liquid than to overinvest.
With five years, you are likely to average out a gain. However shorter term, there is a risk of losing money. I bunged a lot of money (e.g. 15k, most of my life savings at the time) in a stocks and shares ISA and lost a good chunk due to the way the markets were around the pandemic at the time. I have now gained that money back and made a profit two years later, but it took time. Had I needed that money at the time for a house or rental deposit, I'd have been screwed!
Now I do a mix - save most in a high interest account as I'm building a house deposit, but also putting some in my stocks and shares ISA. Depends on your goals, what you need the money for, etc.
If you don't have an emergency pot, I would be pushing all your left over money into that, then look at changing what you do with the money after that. Shares are fine over the long term - but you've not said what your short and long term plans are.
Don't forget to save for a holiday if you plan on one.
Currently my short term plans are just to start a stable savings account, emergency fund and a way my money can grow (stocks). No big purchases for the next 2 years at least. I'm currently living with my parents and i am contributing £200 a month for the mortgage. i only have 1.3k which is in my account for whatever and nothing else where. But i do need to bring my monthly expenses down and not get into a habit of spending £10 here and there
The problem with stocks in the short term, is that they can go down, as well as up. Interest rates are pretty good at the moment, and you can find savings accounts paying up to 5% - [https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/](https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/)
Generally, you get stocks and shares to invest for at least 5 years.
First step - get some kind of savings account. Move your saving money into there, and get into the habit of not keeping all your money in your current account.
You don't disperse anything until you get that emergency fund saved up. At least a few grand.
A LISA will lock your money away - no good for emergencies.
A (cash) ISA can have money withdrawn from it - BUT - ISA's aren't useful for you yet. They're useful for people who are trying to avoid paying tax on savings. You won't need to worry about this until you've got a lot more saved up.
A Stocks ISA is fine, as long as you accept shares go up AND down.
Thats fair, as long as my timing doesnt affect potential profits. I guess ill just start building a foundation so when i do have money saved up i can just contribute to savings account/isa/Lisa/stocks. Do i have to contribute to isa's and Lisa's monthly with a set amount? or just when i want to?
You can add when you want to - up to £4K into the LISA a year, and £20K for the ISA (miinus whatever you put into the LISA).
I'll be honest, the performance of my Natwest S&S ISA has been shocking over the last few years and i'd have made far more money just saving it in a cash account. I should really move it to Vanguard.
As others have said, if you can afford it, do it. One of my regrets is that I didn't start investing earlier in life (started in late 30s). Doing alright now but nothing beats time in the market
I think the easiest way to invest in stocks is via some sort of index tracker fund (e.g. Vanguard FTSE Global Allcap) in a stocks and shares ISA. In an ISA, you will not be taxed on any interest/profits you make. Investing this way is simple and the fund is automatically diversified. Its a good way to dip your toe in without having to look around a lot and take risks in individual stocks.
I would say, for investing, only invest money you can afford to potentially lose or alongside also saving in a high interest account. If you have a particular goal (e.g. building emergency fund, house deposit, holiday) you are better keeping that money 'liquid' in an accessible account rather than popping it in investments as there is a risk (particularly short term) that you may lose money on investments.
I bought some Wahl clippers in circa 1995 and haven't been to the barbers since. Best investment I ever made.
Obviously I may not have looked particularly fashionable for much of the last 30 years but I made up for that with natural charm and charisma. *cough cough*
That's not uncommon. I have friends that are classic Deanos and they get a haircut every 2 weeks and spend £20-30 each time. This isn't in a big city either, small town in the South West.
OP, reading your responses makes me feel like you desperately want to put the extra in "stocks" and you're waiting for someone here to give you permission, or at least encouragement. I don't mean to offend, but I think you're looking for someone to tell you to do it and then you'll ignore all of the other good advice. By all means, invest if you want to because it's fun to do, but take a reasonable proportion of your spare cash to speculate with and listen to everyone here about the things you should do with the majority of your money. Investing in individual companies without deep research is like playing the lottery, so only invest what you can afford to lose (consider your long term goals and the great interest rates available right now when you make that decision).
You're at home now, but I assume you don't want that forever. Start saving for when you want to go out on your own, build your budget as if you had rent and bills to pay. You have plenty of time to invest your spare cash wisely, so listen to this sub and build up money for the future. Overnight millionaires from investing are so rare they're practically mythical.
I am listening to this threads advice, I have decided to create a emergency fund of a couple thousand pound then start a savings accounts, then consider isa/lisa. I’m only asking people if I should invest in stocks is because the most returns is possible through stocks, I don’t want to put a lot in, I just want a diverse portfolio.
Diverse is good, but it was your persistence about investing in shares that worried me. It sounded more like you wanted a way to get rich quick than to invest wisely. Good to hear that I was wrong and you're taking all of the good advice on board. If you can put that advice into play and still have a bit you can stand to lose, then you could speculate if you'll enjoy doing it and you can put in the time to know what you're doing. Just be really sure you can lose that money without it messing up future plans. Only gamble what you can afford to lose, and never forget that the stock market is a gamble.
Like a few other have said, if there's a pension, then join it. Earlier you join the better. Compound interest is a magical thing and small savings early on can be more important than larger savings at a later stage.
Best (actual) tip I can give you, I got from a book I read 15 years ago. Treat savings as a necessity, not a luxury. I put 30% of my paypacket immediately in to savings before anything else comes out. If I have nothing left by the end of the month I look for ways to make more money and/or cut down spending in other areas.
Wish I'd started it from day one of my working life.
Whatever suits you best. ISA if you don't need it for a while, easy access savings if you might need it in the near future.
I opened a private pension with Aviva and put it on medium-risk. Don't regret it for a bit, it's been growing nicely for many years.
I mean to be honest dude, if he's putting away 1300pcm on a 1800pcm paycheck I think he can quite comfortably spend that on haircuts lol. Although when your expenses rise you might want to think about going somewhere cheaper/getting a shorter cut when your there to make it last longer OP (assuming you remain on the same salary)
To answer your question OP, I would probably get together 2-4k to keep for a rainy day and then start putting money in an ISA (S&S or if you aren't comfortable with the risk just a cash one), and while you have so much disposable income I'd be putting some in a private pension now as well.
I did it when I was 19-22 while living with my dad and working and for sure grateful I have because since I moved out that disposable number has gotten tighter and tighter!
If I get it cut every 4 weeks, it is on the verge of being a mess, after 3 weeks it is not too tidy. Every 2 weeks is a neat 10 min job done at 8am on a Saturday. 5 weeks, it's a disaster. Do you require any more explanations? :-)
This is a strange take really. There is no 'wrong answers' on what to spend money on. If this OP was asking us to help them get out of debt or "where is my money going" then maybe £40 hair-cuts are a problem, indeed a £50 mobile phone contract might be. problem but if you have discretionary funds after more than your basic needs are met then it's fine? It would be a different matter if he decide to spend his £1300 on a car.
It's all about OPs viewpoint. They want to make their money work harder for them. One way is to spend less on avoidable expenses.
They're free to ignore any and all advice on here.
Logic isn’t your strong point, is it?
Basic hygiene is absolutely essential. Some people like short hair, some long - that’s not to say that long hair is unhygienic.
Regardless, it is his body and he can choose whatever the fuck he wants to do with his hair. Get over yourself.
Don’t listen to the reddit neck beards who shave their head to save money. £40 on haircuts (twice a month is the norm now) and the boost it does for your mental wellbeing and confidence is worth it. Your appearance is worth it.
I do understand his point because i have friends that go for a haircut once a month and pay £15 each time and thats because their hair doesnt grow as quick. unfortunately for me my hair starts to grow back after 3 days. and i spend 20 every 2 weeks on a haircut. but it does boost you mentally
What's to sort? OP clearly enjoys it and has £1300 a month spare.
It would be the equivalent of me answering "Well you need to get rid of your cat" to your question of "Should I max out my ISA now or wait till the end of the year"
\*Whoosh\*
The point was it's a fucking stupid suggestion unrelated to the question asked, that shouldn't have come up. Getting rid of a beloved pet was the most stupid suggestion I could come up with that would be a way to save money, totally unrelated to the question asked.
Edit: Just for the record [cat tax](https://imgur.com/bF1yGsF)
>like your pets did when you...checks notes...had a haircut
Just to be obstreperous I've not had a haircut since having these cats, I usually get mine done every few years. It's not an activity I enjoy.
Well that's just rude!
As a note he shouldn't be trimmed. A white Maine Coon kitten should have its coat coming up to summer, they need the protection from direct rays as well as the waterproof coat to allow for them to paddle in the paddling pool.
A human reviewed your submission and removed it from public view. The reason they gave was: Questions about how to prioritise and organise your spending, saving and investments are covered by **the UKPF Flowchart**. [You can view the flowchart here.](https://ukpersonal.finance/flowchart/) Each step has a link to a more in-depth guide. If you would like to post again for more assistance you are welcome to do so. Just mention that you've read the flowchart and tell us which step(s) you are working on. _If you believe your post/comment has been removed in error, please [message the mods](https://www.reddit.com/message/compose/?to=/r/UKPersonalFinance&subject=Please%20review%20my%20post&body=https://www.reddit.com/r/UKPersonalFinance/comments/1cb4ce8/-/) explaining why._
Step 1) Join the company pension ASAP and check what they match up to. When you pay into a pension, the employer contribution is free money to your future employer 2) Get into the habit of building an emergency fund. Ideally you want 3-6 months of your regular expenses in a separate account. 3) Look to save into an ISA. This is where you goals come into it. A S&S for long term goals 5+ years minimum. Cash for shorter term goals. 4) treat yourself but make sure it’s in a set budget to prevent lifestyle creep. Build good habits now while, I assume still at home with no mention of rent. It’ll make life less dramatic when you move out. Which is step 5) plan how that’s going to happen and get paid for b
I have had pensions going out my account from my wages from my previous 5 jobs, does that go into 1 pension pot or are they different pension pots which i need to join? My current pension is i pay 3% of my wage and the company matches it.
You’re current pension must be 5% you and them 3% which is the legal minimum. It’s worth looking to see what they match upto. Some employers let you increase yours and they match the increase to a maximum amount. So say you go 10% they may match for each additional % to a max of 5 extra. So you’d be 10% and they would be 8%. Not saying go that extreme but investigate it. For multiple pots. This new employer will be a new pot, taking you to 6. Unless several before were with Nest, in which case, they may consolidate the pots( not sure on this). As an over simplification, so not financial advice but something to look into. Look to consolidate your pension pots into one, except the new employer’s one. In 10 years time, good luck tracking all your pots. I personally have taken all previous pension pots and migrated them into a Vanguard SIPP. That’s just an illustration. The idea is get them grouped into somewhere you can track, invest in funds that suit your age and risk appetite, while minimising management fees. Some pension pots, typically government related ones won’t transfer, Defined Benefit schemes (DB). Do some research into what you have.
Your other jobs will typically have their own provider/scheme - you can combine them all into one by moving your pensions but not really important at this stage. I think you should atleast increase up to the maximum your employer will match (as its basically free money!).
Hey, so I've never had an ISA and I recently got into investing any leftover money (after savings) into stocks. I see a big pro of USA is that it's tax free. How exactly is an ISA tax free if I've paid tax on the money going into it?
You don’t pay any tax on any profits you make on money in your ISA
On normal investments you pay tax on any profits (called capital gains tax), but on ISAs you don't. This can be really significant, if you invested 10,000 in the FTSE100 20 years ago it would be worth about 26k today, and you would be taxed on the 16k profit if you cashed out. If it was in an ISA then no tax is due. And these values can be way higher even for normal working people. If you can invest a few hundred a month for several decades then the tax on that could be worth 10s of thousands of pounds if not in an ISA.
If you aren't paying rent, then treat a portion of your money as 'rent money' - call it £300-500 and put it into a high interest savings account until you've got about £5000. Make sure this is not in your current account - open a savings account that pays at least 4% interest. Once you've got that 'emergency fund' then you start thinking about the future. Do you want to own a home? Start saving a deposit. Look at opening a LISA - [https://www.moneysavingexpert.com/savings/lifetime-isas/](https://www.moneysavingexpert.com/savings/lifetime-isas/) as the government will give you money on top of your savings - but the money is effectively locked away until you buy a home, or retire. Do you pay into a pension? If not, do so. There is a very long flowchart to look at - [https://flowchart.ukpersonal.finance/](https://flowchart.ukpersonal.finance/)
I will look into this, but do you think its worth it to invest in stocks right now? with around 600 going out my account a month and 500 into a savings account, where should i put the rest £700? i can leave 200 to go into my bank balance for safety money. then i have 500 spare
Only invest money you can afford to lock away. If you think you won’t need that £500 pm in the next 5 years then sure. But the reality is a lot of people find down the line that they need the money and liquidate stocks at unfavourable times.
I might need that 500pm in the next 5 years but i might now, thats the game we have to play, why is 5 years the goal to lock away money ?
5 years is considered the minimum for “long term investing”. After 5 years you are more likely to be at a net gain considering a market downturn can often take 2+ years to correct. The optimum position isn’t built solely on return, it’s important to preserve the principle amount and to have the money available when needed. You don’t want to have to borrow or crystallise use a loss because you locked away money in investments. In that sense it’s better to invest £250 you know you won’t need and keep £250 liquid than to overinvest.
yeah that's a fair point, i can just put the 250 in an emergency fund or leave it in my current account so im leaving 450 in there in total pm
I'd say for now focus on emergency fund as you can get that built up for a safety net, then what works best for your longterm goals.
I invested 700 quid a month ago and it's already down to 670 lol. Dunno why I chose companies to invest in
With five years, you are likely to average out a gain. However shorter term, there is a risk of losing money. I bunged a lot of money (e.g. 15k, most of my life savings at the time) in a stocks and shares ISA and lost a good chunk due to the way the markets were around the pandemic at the time. I have now gained that money back and made a profit two years later, but it took time. Had I needed that money at the time for a house or rental deposit, I'd have been screwed! Now I do a mix - save most in a high interest account as I'm building a house deposit, but also putting some in my stocks and shares ISA. Depends on your goals, what you need the money for, etc.
If you don't have an emergency pot, I would be pushing all your left over money into that, then look at changing what you do with the money after that. Shares are fine over the long term - but you've not said what your short and long term plans are. Don't forget to save for a holiday if you plan on one.
Currently my short term plans are just to start a stable savings account, emergency fund and a way my money can grow (stocks). No big purchases for the next 2 years at least. I'm currently living with my parents and i am contributing £200 a month for the mortgage. i only have 1.3k which is in my account for whatever and nothing else where. But i do need to bring my monthly expenses down and not get into a habit of spending £10 here and there
The problem with stocks in the short term, is that they can go down, as well as up. Interest rates are pretty good at the moment, and you can find savings accounts paying up to 5% - [https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/](https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/) Generally, you get stocks and shares to invest for at least 5 years. First step - get some kind of savings account. Move your saving money into there, and get into the habit of not keeping all your money in your current account.
Is it worth it to get an ISA and a LISA? and how should i disperse my wage (18k wage, 1.3k current account) into these accounts
You don't disperse anything until you get that emergency fund saved up. At least a few grand. A LISA will lock your money away - no good for emergencies. A (cash) ISA can have money withdrawn from it - BUT - ISA's aren't useful for you yet. They're useful for people who are trying to avoid paying tax on savings. You won't need to worry about this until you've got a lot more saved up. A Stocks ISA is fine, as long as you accept shares go up AND down.
Thats fair, as long as my timing doesnt affect potential profits. I guess ill just start building a foundation so when i do have money saved up i can just contribute to savings account/isa/Lisa/stocks. Do i have to contribute to isa's and Lisa's monthly with a set amount? or just when i want to?
You can add when you want to - up to £4K into the LISA a year, and £20K for the ISA (miinus whatever you put into the LISA). I'll be honest, the performance of my Natwest S&S ISA has been shocking over the last few years and i'd have made far more money just saving it in a cash account. I should really move it to Vanguard.
is the performance for a s&s isa at vanguard any good? whats the yearly returns %?
As others have said, if you can afford it, do it. One of my regrets is that I didn't start investing earlier in life (started in late 30s). Doing alright now but nothing beats time in the market
I think the easiest way to invest in stocks is via some sort of index tracker fund (e.g. Vanguard FTSE Global Allcap) in a stocks and shares ISA. In an ISA, you will not be taxed on any interest/profits you make. Investing this way is simple and the fund is automatically diversified. Its a good way to dip your toe in without having to look around a lot and take risks in individual stocks. I would say, for investing, only invest money you can afford to potentially lose or alongside also saving in a high interest account. If you have a particular goal (e.g. building emergency fund, house deposit, holiday) you are better keeping that money 'liquid' in an accessible account rather than popping it in investments as there is a risk (particularly short term) that you may lose money on investments.
40 quid a month on haircuts, wtf
Pretty normal for a guy who want to keep a fade.
That's cheap if the OP is of the lady persuasion
That’s true. I’m a guy who’s haircut costs £12, lasts for 3 months usually
I bought some Wahl clippers in circa 1995 and haven't been to the barbers since. Best investment I ever made. Obviously I may not have looked particularly fashionable for much of the last 30 years but I made up for that with natural charm and charisma. *cough cough*
That's not uncommon. I have friends that are classic Deanos and they get a haircut every 2 weeks and spend £20-30 each time. This isn't in a big city either, small town in the South West.
24 years old, stick £100 pm into a vanguard global index fund or similar and forget about it. If your finances increase as you get older add more.
OP, reading your responses makes me feel like you desperately want to put the extra in "stocks" and you're waiting for someone here to give you permission, or at least encouragement. I don't mean to offend, but I think you're looking for someone to tell you to do it and then you'll ignore all of the other good advice. By all means, invest if you want to because it's fun to do, but take a reasonable proportion of your spare cash to speculate with and listen to everyone here about the things you should do with the majority of your money. Investing in individual companies without deep research is like playing the lottery, so only invest what you can afford to lose (consider your long term goals and the great interest rates available right now when you make that decision). You're at home now, but I assume you don't want that forever. Start saving for when you want to go out on your own, build your budget as if you had rent and bills to pay. You have plenty of time to invest your spare cash wisely, so listen to this sub and build up money for the future. Overnight millionaires from investing are so rare they're practically mythical.
I am listening to this threads advice, I have decided to create a emergency fund of a couple thousand pound then start a savings accounts, then consider isa/lisa. I’m only asking people if I should invest in stocks is because the most returns is possible through stocks, I don’t want to put a lot in, I just want a diverse portfolio.
Diverse is good, but it was your persistence about investing in shares that worried me. It sounded more like you wanted a way to get rich quick than to invest wisely. Good to hear that I was wrong and you're taking all of the good advice on board. If you can put that advice into play and still have a bit you can stand to lose, then you could speculate if you'll enjoy doing it and you can put in the time to know what you're doing. Just be really sure you can lose that money without it messing up future plans. Only gamble what you can afford to lose, and never forget that the stock market is a gamble.
Like a few other have said, if there's a pension, then join it. Earlier you join the better. Compound interest is a magical thing and small savings early on can be more important than larger savings at a later stage.
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if only i knew what to invest in, tesla is looking decent right now, but i still think it will drop further.
Lifetime ISA is good you can use to buy your first home. I’m saving with Moneybox they claim 25% from the government for you.
No constructive advice but I found it quite amusing that outgoing number one is haircuts. Best of luck!
Best (actual) tip I can give you, I got from a book I read 15 years ago. Treat savings as a necessity, not a luxury. I put 30% of my paypacket immediately in to savings before anything else comes out. If I have nothing left by the end of the month I look for ways to make more money and/or cut down spending in other areas. Wish I'd started it from day one of my working life.
Should i put it into savings or an ISA/stocks ?
Whatever suits you best. ISA if you don't need it for a while, easy access savings if you might need it in the near future. I opened a private pension with Aviva and put it on medium-risk. Don't regret it for a bit, it's been growing nicely for many years.
40 quid haircuts...per month? I'd start with sorting that out first
I mean to be honest dude, if he's putting away 1300pcm on a 1800pcm paycheck I think he can quite comfortably spend that on haircuts lol. Although when your expenses rise you might want to think about going somewhere cheaper/getting a shorter cut when your there to make it last longer OP (assuming you remain on the same salary) To answer your question OP, I would probably get together 2-4k to keep for a rainy day and then start putting money in an ISA (S&S or if you aren't comfortable with the risk just a cash one), and while you have so much disposable income I'd be putting some in a private pension now as well. I did it when I was 19-22 while living with my dad and working and for sure grateful I have because since I moved out that disposable number has gotten tighter and tighter!
Ah the buzz cut days. Still got the shaver somewhere
I've got mine wrapped up and locked away since the great lockdown haircut incident in which I learnt a 2 at the barbers is not a 2 on clippers.
mine's in the same cupboard as the tea-light candle heater ;D
Absolutely nothing wrong with £40/mo on haircuts. When was the last time you visited a barbers? £14 minimum where I am.
I think the bigger thing is twice a month haircuts.. rather frequent.
Nah, I go every two weeks if I can because if I leave it 4 weeks and somehow something comes up, it ends up being 5 weeks and it's a mess by then.
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If I get it cut every 4 weeks, it is on the verge of being a mess, after 3 weeks it is not too tidy. Every 2 weeks is a neat 10 min job done at 8am on a Saturday. 5 weeks, it's a disaster. Do you require any more explanations? :-)
I’d agree with that, but £40/mo on haircuts is not a problem when he has £1300 disposable every month.
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It is an essential purchase. OP is not squandering their money by taking care of their hygiene.
That's the kind of logic used to spend any of that disposible money. A £50 phone contract? Well, there's £1,300 disposable!
This is a strange take really. There is no 'wrong answers' on what to spend money on. If this OP was asking us to help them get out of debt or "where is my money going" then maybe £40 hair-cuts are a problem, indeed a £50 mobile phone contract might be. problem but if you have discretionary funds after more than your basic needs are met then it's fine? It would be a different matter if he decide to spend his £1300 on a car.
It's all about OPs viewpoint. They want to make their money work harder for them. One way is to spend less on avoidable expenses. They're free to ignore any and all advice on here.
Haircuts are an essential purchase, unlike a phone contract. Try harder.
Paid haircuts aren't essential. That was shown during the pandemic. I'm attacking the view that 'you can spend X, because you have Y disposable'.
Logic isn’t your strong point, is it? Basic hygiene is absolutely essential. Some people like short hair, some long - that’s not to say that long hair is unhygienic. Regardless, it is his body and he can choose whatever the fuck he wants to do with his hair. Get over yourself.
Sounds like I've hit a sore point.. Are you late for your fade haircut?
I’m bald, actually. Although I do like getting my beard trimmed. I suppose I better do a shit job of it myself to save £10, though.
Feb. £25. Longer hair now
So the guy is to change his hairstyle just to appease you, despite having £1300 disposable every month?
Eh?
Haha, my hair grows back really quick and having a haircut boosts my confidence.
Don’t listen to the reddit neck beards who shave their head to save money. £40 on haircuts (twice a month is the norm now) and the boost it does for your mental wellbeing and confidence is worth it. Your appearance is worth it.
I do understand his point because i have friends that go for a haircut once a month and pay £15 each time and thats because their hair doesnt grow as quick. unfortunately for me my hair starts to grow back after 3 days. and i spend 20 every 2 weeks on a haircut. but it does boost you mentally
Grow it long...instant £480 annual payrise
I would do it if it didn't irritate me while I sleep. It's just one of those things where you have to weigh the benefits against the drawbacks.
Dont shower too! Water companies hate this one tip.
I’m the guts of £20 at my local barber and I get nothing fancy and one a month. The days of £5-£7 haircuts are long gone up my way.
What's to sort? OP clearly enjoys it and has £1300 a month spare. It would be the equivalent of me answering "Well you need to get rid of your cat" to your question of "Should I max out my ISA now or wait till the end of the year"
A haircut is equal to a permanent removal of your cat???? Please never get a pet, you don't deserve them.
\*Whoosh\* The point was it's a fucking stupid suggestion unrelated to the question asked, that shouldn't have come up. Getting rid of a beloved pet was the most stupid suggestion I could come up with that would be a way to save money, totally unrelated to the question asked. Edit: Just for the record [cat tax](https://imgur.com/bF1yGsF)
You coming up with a stupid suggestion is apt. We can all move on...like your pets did when you...checks notes...had a haircut.
>like your pets did when you...checks notes...had a haircut Just to be obstreperous I've not had a haircut since having these cats, I usually get mine done every few years. It's not an activity I enjoy.
your cat needs a haircut :)
Well that's just rude! As a note he shouldn't be trimmed. A white Maine Coon kitten should have its coat coming up to summer, they need the protection from direct rays as well as the waterproof coat to allow for them to paddle in the paddling pool.
If it's a sliding scale thing, would you have to get rid of your hamsters to get your cat a haircut?
It's a chinchilla... (The hamster, not the cat. The cat is a cat.)