There are no bones about it, the modern world is tough, especially in the financial sense. If you are one of these people that have just graduated from university, this is where the learning curve of life is going to get you. There’s a lot of talk about being financially stable, and it can be very difficult to be sensible with your finances, but there are some things you need to get ahead in life. But what are the essential things, really?
A good suit
Especially if you’ve just left university, you are going to need a good quality suit. Not only will you be attending lots of job interviews, but you are also going to be going to plenty of events, and as your friends are going to slowly start getting married, and having kids that will inevitably come with baptisms, you need to invest in a good quality, i.e. an expensive suit. Before you say that cheap suits are just as good, the fact is that more expensive clothes on built to last longer, and the same applies to a good pair of shoes. A good pair of shoes will last you 10 years at least, so think about that when you buy a cheap pair of shoes that is going to last 6 months tops. Self-care is very important, and you will feel good if you look good!
A big problem now is that trains are late, they are jam-packed, and it makes commuting an absolute nightmare. Depending on where you live, it probably makes sense to get a good quality car. And you could get one on lease, which means that you don’t have to keep spending money fixing up your car every time something little happens to it. But there are also plenty of great resources and mechanics, such as www.prmotors.biz, so make the most of them. Your car is going to be a lifeline, especially when you hit the real world with a bang. The freedom of having a car is unbelievable, and you don’t realise this until you will get your first car. It gives you the opportunity to go on day trips; you can see your friends that have been scattered all over the country, so you can actually have time together. And it’s a great way to enjoy life, before you use a car to transport kids and your weekly shopping!
This is a savings option for a lot of people now, and it’s a great way to add a little more to your money pot, especially when it comes to retiring. There are four types of Isa, the cash Isa, the stocks and shares Isa, the lifetime Isa, and the innovative finance Isa. With these four, you do not pay tax on the interest, meaning that you will get a lot more back if you decide to go self-employed, as you don’t need to declare them in your self-assessment.
A Life Investment
While all these options are sensible choices, think about what you love and that you will look back on in 30 years’ time and be glad that you invested in it. For some people, this may mean socialising, for some it may be something a bit more worthwhile, such as a hobby you have really wanted to get into. Maybe you wanted to learn a language, learn an instrument, or it could just be something as basic as looking after yourself. Something like investing in a gym membership, like on www.puregym.com, but make it something that you won’t regret that you squandered your money on. Even if you spent most of your 20s socialising, if you can look back and say you enjoyed yourself, them financially it is worthwhile.
The modern world is financially very tough. So, to get your bearings before you start climbing the career ladder, it’s important to make some purchases that will serve you in good stead. Whether this is investing in a car to get you from A to B, or a hobby that is an emotional investment, make these purchases count.