Making an impact in my first job.
Making an impact in my first job
My current situation
I have just started my first 9-5 job as a marketing assistant where I earn £20,000 per year. I currently live at home with my parents.
I have been auto enrolled into my company pension scheme. I have no idea how pensions work and I am too embarrassed to ask. I wish someone would help explain it to me in simple language.
I am not great at managing my money and live for today. I know I need to change this if I want to have my own house one day.
- Short Term – understand budgeting.
- Medium Term – start saving into an Individual Savings Account (ISA).
- Long Term – understand how pensions work and why its important to start saving as soon as possible.
What I need
I would benefit from further financial education on topics such as understanding budgeting my money, the basics of how pensions work and why I should pay in now.
It would be good to understand the products that are available that could help me save for a house deposit, as I do not want to be stuck at home much longer.