Articles and Resources
Financial Wealth Check
The Independent - Saturday 21 June 2008
Wealth Check: 'I want to clear my debts and start saving'
Lucy Minshall, 24, a public affairs consultant from London, may have left university far behind her, but the debts she racked up there still haunt her. "I've been working for two years, but I'm still trying to get over my student loan and overdraft," she says "I just about survive on my salary but have nothing left to save for a rainy day. I can't even begin to think about getting on the property ladder, and I had hoped to stop working when I have children."
Case notes: Lucy Minshall, 24, London
Income: Lucy earns £20,600 a year.
Monthly spending: her rent is £700 including utility bills and taxes, she spends around £100 on food, and around £200 on socialising.
Mortgage: £0
Pension: Lucy has just started contributing around 3 per cent of her salary into a final salary scheme.
Debts: Lucy owes around £12,000 on her student loan and goes into her overdraft by around £500 each month.
Savings: £0
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Huge thanks from Stephen and I for your extremely valuable advice which we will now pursue. We were really inspired after our meeting and just wish we'd met you years ago!
Sophie Stewart - London
Sophie Stewart - London
