Sanity Check 22F On Welfare
Hi,
I’m currently living at home, on 389/week (disability + half rate carers).
14K saved. I’ve done my fair share of traveling and I’m very VERY minimal with my spending right now (approx. €40 outgoings/week). Got myself through college with SUSI and part time work, been self sufficient and moved out at 17, back with my family now.
I’ve been recently diagnosed bipolar 1 so I’m working with my psychiatrist on a back to work plan so I can give graduate programme interviews a proper go this coming September (September 2027 start).
I have a university spin-out opportunity in the coming months too, some decent funding has been secured for that and I won’t be touching my personal money for it.
Assuming I remain on welfare until September 2027, prediction for my savings is in the €25k-28k range.
I’m in tech, so the graduate programme will probably earn me around €35k-€40k in the first 2 years. I have a free travel card (valid for 10 years even if I stop claiming welfare), so I’ll likely commute to Dublin and remain here. I don’t own a car.
All of my money is in cash and BOI, I don’t want to start a savings account yet until I have a
bigger buffer to put in for good that I won’t touch.
Is this wishful thinking or am I in a decent position? I would love to become a home owner earlier rather than later!