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Aspiring Lawyers - Applications & General Advice
General Discussion
How do young lawyers manage their finances?
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<blockquote data-quote="TC fiend" data-source="post: 90192" data-attributes="member: 12349"><p>Tbh in my own personal experience, I’d say the way people spend their money really depends on how they grew up with (or without) money and what they feel comfortable with. For example, in my own observation I’ve noticed that those who didn’t have financial stability growing up are more conscious of their pension contributions, long term investments and paying off any outstanding debts. On the flip side, I’ve noticed that people who have a financial support system to fall back on tend to be more relaxed and spend more on “flashier” items. I think it’s good to strike a balance between the two - hoarding all your money in a savings account isn’t the financially smartest option, but neither is living beyond your means. Luckily nowadays there are plenty of financial planners working both with banks and providing independent financial services, who can help you look at how you can make your money work for you and achieve your financial goals.</p></blockquote><p></p>
[QUOTE="TC fiend, post: 90192, member: 12349"] Tbh in my own personal experience, I’d say the way people spend their money really depends on how they grew up with (or without) money and what they feel comfortable with. For example, in my own observation I’ve noticed that those who didn’t have financial stability growing up are more conscious of their pension contributions, long term investments and paying off any outstanding debts. On the flip side, I’ve noticed that people who have a financial support system to fall back on tend to be more relaxed and spend more on “flashier” items. I think it’s good to strike a balance between the two - hoarding all your money in a savings account isn’t the financially smartest option, but neither is living beyond your means. Luckily nowadays there are plenty of financial planners working both with banks and providing independent financial services, who can help you look at how you can make your money work for you and achieve your financial goals. [/QUOTE]
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