NW update as a 23 YO hyper-saver
Hey all!
I’m feeling quite proud of myself, so I wanted to share my progress. If you have any advice, or suggestions, please go ahead!
DISCLAIMER: I am in a good position, I am very grateful for it. I hope that I can inspire instead of discourage. I also think I am addicted to saving which is why I’ve been able to save so aggressively.
NW breakdown:
HYSA: 84k (will all go on deposit)
Vanguard S&S ISA (maxed out last 3 years): 79k
Pension: 9k
Current Accounts: 10k
Total: 182k
In the process of buying a one bed maisonette in LDN (I want to live below my means, plus it’s 65m2 with a garden so can’t complain about it being a one bed!)
(Anticipated) FAQs:
Q: WTF is your job? A: SWE! Engineering degree straight into fintech, I work at a bank. 3 years full time experience at this point.
Q: How did you manage to save so much? A: living very frugally. Have lived with parents until now (I pay rent of about 500 a month incl. household expenses.) I don’t drink, smoke, eat out etc (which has saved me lots!) I travel, but travel cheaply. I stay with friends or in affordable accommodation (can’t wait to have them stay with me once I complete on my property!)
Q: Why are you doing this? A: growing up in financially unstable household made me terrified of not having money. It means I feel back when I spend - I’m trying to spend more on purpose as exposure therapy. Also, it might be nice to retire early.
Q: Did your parents give you money? A: I’m lucky they let me live with them until now, though I’m moving. Very grateful. I paid rent to them too & of course help around the house (cooking most dinners, cleaning, laundry, taking care of the pets etc.) + frequent gifts. I’m ready to leave the nest now. I however haven’t gotten any cash (anything trust fund, to pocket money, to any gifts past slippers for example) since I was around 15.
Thanks for reading! I’m hoping the peeps of FIRE UK will appreciate what I’m trying to do!