Where to save my money?
Hi there,
So I have started to work properly and now making more money than I have before. I have followed the pinned chart for this sub and just have a few questions I would love for everyone’s advice on.
I (23M) started a new job. I make 35,000 and I work abroad where my company pays 1400 a month. At 23 I think this is a wonderful position financially. My take home pay is around 4000 a month. I have expenses but they are low. My budget I keep I have assigned the 50,30,20 rule for needs wants and savings.
I do go over on my wants but stay under my needs . My savings I currently put 1,000 into a savings account in AIB and 500 in my Revolut savings.
I do not have a pension as of now. I’m not eligible for their pension scheme until March.
My emergency fund is in Revolut but I do not touch it unless necessary.
I do spend money on experiences with my friends and girlfriend and want to enjoy my time too. Holidays and time off etc. This is sometimes where my wants can go over a bit.
My questions I would give and hope you guys can answer are:
Should I create a PRSA now for the next month and a half or just wait until I can join the company pension.
Where should my savings be put? Should I amend the AIB and save somewhere else or keep to it? Should I put my extra 500 that goes in my Revolut somewhere else?
Renting is on the horizon and I know this will up my expenses (obviously). So if I was to half my savings when I do move out, is it still possible to save?
When everyone says to invest in stocks and etfs, are they talking about Degiro and Trading 212?
Following from above, I had a conversation with AskPaul about what to do with my money and they said Zurich. I have seen this is a common thread with them. If I was to just go into Trading212 and invest in Zurich Insurance (ZURN on T212) is this the same thing as investing in it with them?
I appreciate the feedback in advance.