Just graduated. Got job. Where do I put salary?

He has said that he already owns a car and lessons are subsidised. The wise old flow chart is the perfect place for him to start though.

What OP should remember that owning a car is an outgoing in itself (assuming you will want to drive it whilst learning to get comfortable in your own wheels). Think road tax, fuel, insurance and maintenance.

As another poster has said it will take a few months to get your budget from merely theoretical to an actual account of your earning, spending and saving.

I started in the world of work about 2 years ago and had a year of trying (and basically failing) to save my money until I started paying attention to subs like these. I now have my matching pension contributions maxed, company share scheme maxed and Help To Buy ISA maxed every month. Thats the easiest way for my money to earn more money in the long term pretty much risk free.

The rest is being fed into a high interest current account (well, a few actually to reap the bonuses: Halifax Reward and TSB Plus. £13 + 3% on balance per month again for sitting on my arse).

These are only my choices of course. Good luck OP!

/r/UKPersonalFinance Thread Parent