18yo wondering what to do with savings?

[snorks4lyfe]

@josh66 Yes. My son is 19 not a single one of his friends have left home.

 

[racholo]

@snorks4lyfe You sure you're not part of a small circle of people known as upper middle class.?

 

[snorks4lyfe]

@racholo Hardly. I just bought my first house. My wife is a check out chick and I'm a small business operator..

 

[keziahnz]

@racholo Yes it would. I wish I had that, mine were not poor but definitely not well off and in a very small country town. So I needed to pay my own rent and bills.

 

[nathant80]

@racholo So if you don't get kicked out before 18 you have rich parents? Interesting take

 

[racholo]

@nathant80 Weird take, a lot of parents need monetary assistance from their teenage kids.

 

[kaylaherin]

@keziahnz lol okay mate

 

[keziahnz]

@kaylaherin I was serious. I saved about $40K this way so I had my first house deposit almost together.

 

[leesajohnson]

@keziahnz Same here. Was 18 when Covid hit and lived with parents. Worked like a dog in that time while doing my undergrad and put away nearly $70k over the year and a half before I moved out.

 

[amamames]

@leesajohnson Lol at you guys getting jealousy downvotes.

 

[kaylaherin]

@leesajohnson you were 18 a year and a half after high school?

 

[snorks4lyfe]

@kaylaherin Easily possible in QLD.

 

[kaylaherin]

@snorks4lyfe fair enough, how's that work?

 

[snorks4lyfe]

@kaylaherin Well if you're born before June 30 you would be only 17 when you finish school and would not turn 19 until half way through your second year out of school. Used to be even younger. I was prepping for my second year final exams at uni when I was still 18 (Turned 19 during the exams).

My daughter will turn 19, 17 months after finishing high school.

 

[josh66]

@kaylaherin School starts at a different age (or there is extra schooling prior to year 1 or some nonsense down south). You turn 17 during year 12 up here, so if your born later in the year (like me) your out of school an entire year before you hit 18.

Edit: looks like at some point we swapped to a financial year system, because… reasons.

 

[leesajohnson]

@kaylaherin 18 in march 2020 when Covid hit

19 when I left NSW a year and a half later with $70k in my pocket

 

[kaylaherin]

@leesajohnson you earnt 60K a year (before tax) for 1.5 years during uni without spending a single cent? or did you earn more than that? how? unless you're saying you were saving for years before that.

 

[leesajohnson]

@kaylaherin Had savings before that, a scholarship too which paid $2000 semester

Hospital job 36 hours (Monday Tuesday Wednesday, Friday Morning - they were long shifts) @ $34 = $1200

2 nights (Friday night Saturday night) Woolies night fill, can’t remember what pay came out to because like 4 diff penalties applies in, but IIRC was about $500/600 bucks mostly

Tutoring would do UCAT ($70ph) and Economics ($50ph) tutoring for 3 students, one only did UCAT. Came out to about $300 pw typically but more fluctuations because that’s what tutoring was

Uni did when I could, mostly Thursday’s and Sunday’s. I honestly found first year very similar to highschool and because Covid most of the courses were open book

 

[kenechi]

@kaylaherin tutoring can easily pay $100 an hour or more for the obscure subjects (think latin and the sort), and you can normally start once you're in year 10 so if you can get 3 classes per week going and save / invest it 60k is definitely possible.

 

[mariab97]

@kenechi Do you really believe this kid has any valuable knowledge that can he can sell for $100 an hour?

Come off it