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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="Jane Smith" data-source="post: 91228" data-attributes="member: 7481"><p>Always try to spend less than your net pay is a good first rule so you are setting some money aside for harder times (or the deposit on a property in due course). Other than that it depends on the person. Some with good pay spend it all (very unwise in my view). Others are more careful with money and put it aside for the future. Once you have an idea of where you might want to settle it is worth buying a home as soon as you can once you are qualified and how long that will take will depend on your pay, savings, where you want to buy etc. If you have a partner then the two professional salaries together can make it easier to buy a first place (obviously). We bought out in Zone 5 (London) (lots of commuting sadly...) as it was cheaper.</p></blockquote><p></p>
[QUOTE="Jane Smith, post: 91228, member: 7481"] Always try to spend less than your net pay is a good first rule so you are setting some money aside for harder times (or the deposit on a property in due course). Other than that it depends on the person. Some with good pay spend it all (very unwise in my view). Others are more careful with money and put it aside for the future. Once you have an idea of where you might want to settle it is worth buying a home as soon as you can once you are qualified and how long that will take will depend on your pay, savings, where you want to buy etc. If you have a partner then the two professional salaries together can make it easier to buy a first place (obviously). We bought out in Zone 5 (London) (lots of commuting sadly...) as it was cheaper. [/QUOTE]
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How do young lawyers manage their finances?
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