Am I spending too much/ saving enough?
Thanks for coming to my post. I am a PhD student in the UK and want some investment advice!
Income: PhD stipend £1470, teaching tutorial classes twice per week: £100 - £200 depending on class schedule, so let's say £150 here, that will be £1620 / month. Good thing is I do not get taxed at all for my income as a student.
Breakdown of my expense
Rent + bills (living in a LCOL city)= £500
Transport = £50
Food + entertainment = £500
Others (clothes etc) = £200
so that will be £1250 so say £1300 per month. This will allow me to save around £300 a month.
I am now 25 and prior to doing my PhD I have worked for a year (and another year as part of my undergrad studies) and have saved £10k in stocks and £9k in my Lifetime ISA (including government bonuses).
Do you guys think I am saving the right amount given my low income? I am planning to put my monthly savings in some UK/S&P ETFs. What do you think?
Hi Prospect in IB-M&A, any of these discussions helpful:
More suggestions...
Fingers crossed that one of those helps you.
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