Home Work & Volunteering
At The Mix, we want to make our services as helpful as we can. To do this, we’d love to ask you a few questions about you, your visit to The Mix and its impact. It should take only about 5-10 minutes to complete. Take this survey and get a chance at winning a £200 Amazon voucher​.
Free Wednesday evening? Come along to our safeguarding co-design session from 6-7:30PM. sign up here
Read the community guidelines before posting ✨

Just got my first proper paycheque!!!

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
AND! I got the monthly, tax-free bonus!!! Wooohoo!

It's soooo satisfying seeing it in my account even though it's all going to go on rent, bills etc. It makes sitting in that airless, dull office on that stupid headpiece worth it.

What did everybody do with their first paycheque?

Comments

  • JsTJsT TheSite Graduate Posts: 18,265 Incredible Poster
    Good feeling isnt it?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Congrats! It's one of those really awesome feelings. :D

    I had my first last June, and even if it was only for half the month of May then it was more than I had ever gotten paid before. That was so sweet!

    I was really boring though and spent most of mine on paying off a part of my overdraft. But I think I also bought some clothing. I honestly don't remember. I've spent *a lot* since then though. Wooops.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Haha, well I've just set up a savings account to stick a 10% of my cheque in each month, with monthly interest.

    I'm getting a personal loan in the next few weeks in order to regain control of my once hectic finances and I'll be sticking a bit of that to mature in my savings account. But now that I've got a nice paycheck coming in I feel like I can really make a go of saving for a deposit for that oh-so-distant dream of owning my own house!
    :D
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Congratulations.

    Onto the more dull bit, I take it you've researched the interest rates etc, but it's quite rare that you are better off getting money from a personal loan and putting it into Savings. 9 times out of 10 the interest rates on the loan are higher so you are best putting what you would put into 'Savings' into paying the loan off instead then starting saving properly.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru

    I'm getting a personal loan in the next few weeks in order to regain control of my once hectic finances and I'll be sticking a bit of that to mature in my savings account.

    As Scary Monster says, this is most likely folly as you will be paying more interest than you will earn.

    Just borrow exactly what you need, and leave it at that.
Sign In or Register to comment.