so i'm 18 and in my first year at uni. I have ~10,000£ in my savings account and would like to know how to turn it into something more.
i am currently living on ~300£ a month that my parents send me (although each month i spend less than 50 for groceies an ~200 for entertainment, books etc, so i still save up at least 50£ each month), and am making around 20£ a day cycling for deliveroo, trying to save up as much as possible for travel. my goal is to have enough money saved up by the end of my undergrad (3 years from now) to travel for at least 4/5 years (mostly in places like india where i'll get by on very little money, plus i'd probably work in this time as well), and it's worth noting that i will not have any debt when finishing uni because this is scotland and tuition is paid for by the government.
i know nothing about making money apart from how to save it, and have never looked into anything other than part time jobs and that; so what advice can you give me to turn my 10,000£ into something more over the next 3 years?
So i'm 18 and in my first year at uni. I have ~10...
>le travel around third world shithole
>live comfortably for the equivalent of 300$ a month
>one of the most fascinating cultural and religious histories on the planet
>amazing nature from tropical beaches to some of the highest mountains in the world
obviously making fucktons of money to spend of gaming pcs makes much more sense
thanks for the help frens
All in on link
What is this "£" weird L thing? what shithole do you live in?
You're gonna go far, kid
So much wrong with that picture OP, I'm glad I wasn't alive then.
OP save yourself now, this is not the place for financial advice. All you'll get here is to invest in a meme scam coin called LINK
>less than 50 for groceies
The fuck are you eating? Potatoes?
i bulk buy my meat and fish to freeze it and keep down on junk food which keeps the price down a lot
also i eat a bowl of oats every morning which are cheap as fuck, fill me up and have a decent amount of protein
Maybe you could put that 10k into some kind of high-interest savings account or something. See if your bank offers anything along those lines; most of them prevent you from withdrawing from those accounts for a certain period of time (unless you pay a penalty). Is there any way you can get a better job than deliveroo? Even if you "invest" in crypto, your best bet at making money will be plain part-time work.
That's the British pound, the most valuable currency in the world even after the Brexit. One £1 is probably worth more than your life lmao
I never really could be arsed enough to get a proper job because i don't need need it, and with deliveroo you choose when where and if to work which gives me comfy flexibility. but tbf it probably is worth looking into some better paying part time
wrong the kuwaiti dinar is the most valued currency
>trying to save as much as possible
>spend £200 on entertainment
i mean, that's kinda what i'm saving it up for..
>entertainment
Let me guess, ketamine?
If you want to save up enough money to live in India for 4-5 years (frankly I think you're retarded to want to do that, but you do you I guess), you're going to have to work a lot, and even sacrifice some of your free time especially during the summers when you don't have classes.
not my first choice but i'll take it
Liverpool fag here, 22 fresh grad making 26k
I'd say it's a pretty risky time to invest in anything over the next years because of the risk of a recession. That being said it would also be dumb to keep it in the bank, so here's wiwd in your position:
Keep 12 months maintenance in cash at all time. Thats housing and food, which seems low for you. Thats your emergency savings.
Then from what is left
20% buy silver and gold britannias as they're tax free to trade if you need to sell
30% into a savings fund like pic related
10% split in sound crypto (btc xrp eth xmr do not listen to biz)
40% in liquid cash because shaky markets, if it goes to shit at least you can buy more for cheap
And every 2 months invest your new savings in the same percentage splits
I'll be thinking of you on your state-funded jolly while I subsidise it with my permanent 9% extra income tax.
Saving in the uk as an average citizen is terrible. The best you can do is these stupid trickle investments where you get 5% for one year but can only deposit £1000 a month. There is no way to get ahead.
Don't disagree, tryna make the best of it for short term, not staying here for many years to come just milking the webdev tit