Managing money can be tricky, especially when you're starting out in your career, but apprentices are proving that it's possible to save, plan and build good financial skills early on. As part of Skills For Life Monday' we've asked some of our apprentices to share their top money saving tips.
Alfie Black, Northumbrian Water Apprentice
'My top tip would be to save money each month. I tend to halve my salary and transfer that into a savings account and live off the rest. My hopes are to buy a car soon, and once I've done that I'll be saving for my first home.'
Alfie's strategy is a great example of how breaking your income into priorities can help you stay on track with long-term goals. Whether you're saving for a car, a house or something else, setting aside a portion of your income each month will get you closer to achieving it.
James Hewit, ABM Electrical Apprentice
'Money saving tips from me would be to try and take your lunch into work each day, as that saves a great deal of money. Also try not to get taxis to work- use cheaper ways like walking or cycling if possible.'
James's advice is all about making small changes to daily habits. Taking your lunch to work and choosing cheaper transportation options might seem small, but over time, these savings can really add up. Plus walking and cycling is good for your health too!
Aaron Brosnan, Edmundson Electrical Apprentice
'Delete Just Eat and cook food'
'Plan out all expenses and make sure to save because a job isn't guaranteed at the end of the apprenticeship.'
'Make sure to get what you are worth.'
Aaron's advice hits on three key points: cutting back on unnecessary expenses (like takeaways), budgeting for essentials and understanding your value in the workplace. Planning ahead and being mindful of your expenses is especially important as you navigate your early career.
Alekos
' With my pay, I transfer at least 85% of it into a flexible savings account so that I can use it if I absolutely need to but I never take any money out of it. I use the remaining money on takeaways and going out with mates. The only exception is this month where I am spending a lot of my pay to buy tickets to go to the O2. I try to save all of it so that i have money for later on in life.'
Alekos's method highlights discipline and balance. By saving a significant portion of his income but leaving room for fun.
What we can learn from these apprentices
These tips show that managing money is all about finding out what works for you and sticking to it. Whether it's cutting back on daily expenses, creating a budget or committing to a savings plan, every step you take now will make a difference later.
Here are some recurring themes from their advice:
Set savings goals saving a portion of your income each month can help you prepare for big milestones like buying a car, a home, or even a dream trip.
Cut back on unnecessary spending simple changes like bringing your lunch to work or cooking meals at home can free up more of your income for savings.
Plan ahead be mindful of your future by budgeting carefully and preparing for any uncertainties.
Treat yourself (in moderation) saving doesn't mean you can't enjoy your money- set aside some for fun and experiences, just like Alekos does.
Remember, building good financial habits now is one of the best investments you can make in your future.
The ATA Team
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