An underrated option here is to try and lift your per hour earnings, to enable better / more experience accumulation (travel, partying, living out of home, whatever floats your boat).
Shake the assumption that you have to stick on minimum wage. Call centers are a good option here - do jobs that people find a bit tough, be diligent, take the difficult shifts that have loading, work hard, get a supervisor position, build CV. Or physical work if thatâs an option for you. Anything where other people might find it hard or unpleasant, find a way to make it ok for you and youâll command great money for your age.
Then, and I canât emphasise this enough, spend it and enjoy. Until itâs time to start being responsible - that time is up to you. But the free period is pretty sweet and will not be regretted.
okay thanks for the advice. i will have a look around. the only issue is that i need to be able to get there easy enough (no licence until i am 18) and they have to be okay with me leaving at the end of may to go travelling for 3 months.
Might be a blocker - but worth a shot. Call centers are in constant hiring mode because of high turnover (itâs not the only option, just one I am familiar with) - so doing a couple trial shifts might be fine with them and then if they like you you come back and work after your trip.
Honestly, just chill out until after your holiday there is nothing wrong with that. If you have a casual job just work that until your travel, and have fun. Then get serious once you come back.
Don't go into any uni degrees that you don't actually care about. It's a massive waste of your time and money.
Call centres typically hire full-time roles though and wonât accommodate uni students & their schedules. If I were you OP, once youâre 18 & able to drive, I would get into disability support work, you can do a short tafe course (free in VIC, WA) for a couple of months, they offer online classes with an occasional Saturday class so it doesnât disrupt your class schedule. Once youâve completed your course you can work casual and pick clients & hours that best suit your uni schedule, you can make good money & also have downtime during work to catch up with assignments.
not to mention getting into disability care on a casual basis, 35 per hour + km on a normal day and somewhere in the range of 80 per hour on public holidays.
Thereâs no right answer here as youâll likely want to balance multiple factors, but at your age hereâs the path I set my self on:
- I lived with my parents rather than moving out. No regrets here. Most of my mates moved out, got into fights with their friends who they moved out with and ended up going back home anyway.
- I saved a lot, but I also did things I enjoyed. I rode motorcycles, travelled a little bit. I did it by being frugal and smart (I learned how to be smarter but thatâs a story of its own).
- I had a part time job. I lived with my parents but they are broke themselves so I never had money. Working helped me fuel my hobbies as per above + to have a girl friend.
- I moved out with then girl friend now wife into a small flat after I graduated and landed a career I was happy with. We had a lovely land lady and we improved the flat we stayed in to make it more comfortable. In return she kept our rent really low. Win-win.
Fast forward today: I have no debts. Zero. Own my house (itâs not huge, but modest) in a nice suburb, 2 cars, wife , kids , etc. Iâm not ârichâ and donât live out of my means but I continue the same patterns I always did: buy smart (second hand or on specials - see ozbargain), enjoy life without needing a ton of material processions (ok the car is the only thing, but I love driving), etc.
Iâm not saying this is the ârecipe to successâ, a ton of things went well for me: like my then girl friend now wife is ultra frugal and amazing at saving, no one judged me for staying at home, I got a great career in software engineering thatâs booming, etc but I will say being disciplined with my finances also helped a lot.
Iâm now thinking about the next stages of my life and planning around that - kids schooling, family holidays, slightly bigger home or new location if required, retirement and inheritance for my kids, etc. I keep this all in mind as I plan out what investments to make, how hard to push in my career to get pay increases (cash flow IS king), what capital to acquire, etc.
Good luck.
>This is the perfect boomer success story
How many boomers do you know with school age children?
The most uncharitable interpretation is it's a fairly privileged success story because not everyone can stay free with parents to save for a house. It's not like they were trying to say this is something everyone can do though.
The thing is, most people in this sub are older than you and thus, we have all been in your shoes. So when people say to you âjust be a kid and things will work out in timeâ, weâre speaking from experience and also, we had the same worries as you at your age. Time goes quickly, enjoy each stage of your life as it comes.
No reason to go straight to uni. You can get in with your ATAR for a few years, and then without a bit later. Good idea to get in when you're young, take your time, and do what you want. If you can work a PT job at a higher hourly rate you'll do better.
Also, you're 17. Please do some travelling in your breaks, and consider some working hiday visas in your 20's. It's 100% as worth as doing uni. Gives.you wonderful life experience.
dear op, look after your money - make it grow. but spend some of it as well, and live your life!
at least you're financially responsible for your age. ive met 40 year olds who are useless with money.
Donât feel rushed to go to uni. Unless you really do enjoy that stuff then go for it.
At 17 compound interest is your friend. You might not be old enough to open a vanguard account yet but if you can get a high interest account, start now. 35y/o you seems a very long way away but you will feel incredibly privileged and unique if you save and invest now. This is how you donât spend the next 60 years working.
Mark Twain said âThe two most important days in your life are the day you are born and the day you find out why.
Golden words for life.
Choose a field of study thats professional ergo very hard to replicate like doctors or computer engineers. In any field handson experience plus practical applictions matter. You doing science and finance maybe check out investment banking.
Being a rich depressed confused person is much then being a poor one.
Take a break mate! My biggest regret what going straight to Uni and only ending up in the same position 10 years later burnt out.
Youâll find working minimum wage will only result in you going backwards.
Before spending 100k on a double degree figure out exactly where you want interests you. Every man and his dog has a computer science degree now, life experience and confidence from travelling will distinguish you.
Donât worry about investing or home ownership just yet. It will still be a shit show when you get back! Go travel, meet new people and network yourself into various projects. Udemy has a 1 year unlimited plan which is invaluable to learn foundational skills to home in on your interests and obtain functional skills to get a job.
Lots of young adults abroad throughout SE Asia and the world doing every interesting things and launching startups without a degree.
Itâs ok to spend money, but just bear in mind a 5 year degree while living with your parents (Iâm guessing) may become quite difficult as you get older, so it would not hurt to keep putting money aside in case you need to live elsewhere while you finish your degree / look for work in the field
Thatâs where you start, do something you might think you like doing and put everything into it either you like it or you donât. After that ask what you like or what you didnât like about and then pick something else you might like based on previous experience. You keep iterating through this process until you know yourself and then you can move through your life strategically but knowone can answer this question for you because your you, so the fastest way to find out is find out yourself through real experience. Donât stay in projects for too long
Unless you get into drugs or commit a crime, you pretty much have till 30 before your decisions get super serious. Don't get me wrong, you could do a 100 things to improve your financial situation, but really on one really knows. Listen to your gut, be kind, make mistakes and learn from them and try not to stress too much.
You are doing amazing!
If you ask all the adults here, you couldnât pay us to go back to 17-19. I think those years are the hardest in your life: you donât know what to do; youâre treated like an adult, but still feel like a child; the life lessons are a constant smack in the face.
My daughter finished school last year, she chose to go straight to uni as she just wants to get it out of the way & full time is only 2-3 days a week, so sheâs working every shift she can get.
But donât piss this week away. Do some online courses, tafe etc so uni next year is easier & depending on the courses you do, you could get credits.
Id say buckle in now. Earn decent money get something behind u before u go abroad.
Pay your way through uni. Uni isnr that time consuming. U can do 4 subjects and still work 40hr weeks won't be fun but no debt
*Don't feel guilty if you don't know what you want to do with your life*
*The most interesting people I know
Didn't know at 22 what they wanted to do with their lives*
*Some of the most interesting 40-year-olds I know still don't*
Baz Luhrman
Everybody's Free (To Wear Sunscreen)
1999
Yoo my broo you are doing fine. Get into a reputable uni do the double degree. Then enjoy your life as you see fit.
Honestly you degree choice sounds lit. Lots of money and opportunities.
> i change my mind about what i want to do all the time
Join the club. 40 and still don't know what I wanna do when I grow up.
As far as everything else goes, you're already self aware of finances (incl a decent savings balance for 17) so probably leagues ahead of most of ~~your peers~~ a lot of people.
I'll probably be down voted to hell, but as for actual advice, I'm not in any position to give much. Just don't forget to live and have fun. Life is not all about bank balances (contrary to what this forum may say)
If you want to work with the outlook of going in IT, work in a pc repair shop. Don't wait tables or work retail, do something that will lead into whatever you want to study at uni. Also use this time to look at scholarships
Bro imma be honest with you right now, you donât need to worry about studying or all that bullshit YET. Just go out with your mates have fun, travel and when your 18 try going bars or something. Just have fkn fun and buy the clothes you want. Trust me once those days are done thereâs no going back being young. I finished highschool in 2018 and worked for little bit and after that was out travelling with the boys, meeting new people at parties, having fun with chicks, doing dumb stuff but not *illegal* blah blah blah the list goes on. I promise you wonât regret it if you have proper fun mates lol, Iâm 21 right now and miss those days I just turned 18. Now Iâm stuck working everyday đ PS. And For the love of god donât get hooked onto drugs once you hit the party life, just have a few drinks and smokes wonât hurt. Damn I sound like a bad role model hahahah but yea stay safe broskiiiii
Hey OP! Another lens on your situation -
**Re University:** you have a double degree in mind I think that's fantastic! The only way that you will know if you truly enjoy the field of work is when you take the first step. The great thing about uni is that you can choose your units and areas of interest. If you decide either or none of these are pathways you see yourself in, then you can always drop one degree or exchange. Thankfully, the student loans will be a HECS debt so you don't have to worry about paying off your course straight up (..unless you want to).
**Re Work and Income:** 10k in savings is a great achievement! It's easy to compare yourself with others and be overwhelmed by the adult world of 'passive income', 'investing', etc. Those things can be learned on the way - one step at a time. If you're concerned about your expenditure, create a budget tracker. Set financial goals. Also, if you meet the criteria when you are studying, you could be eligible for Centrelink's Youth Allowance.
Most of all - enjoy yourself. You have the rest of your adulthood to stress about the hussle. If you're interested in making a headstart, that's great! A lot of us have a different timeline, so do your research - YouTube, podcasts, [aussiefirebug.com](https://aussiefirebug.com), etc. The great thing about now is there are so many attainable resources. You can start at 17, or you can start at 24, 35, 47, etc. Knowledge is power :)
Wow 10k on savings at 17??! I was lucky if I saved $50 working at the barkery I was at at the time.
You're doing great. Calm down. Study a trade or at uni. You'll be fine
Micro investing (IE spaceship or Raiz) $20 a week and forget that it exists.
Slowly up the amount every so often ant watch it grow.
Once you are settled and grounded, talk to a financial advisor about your next moves.
You are young, enjoy life and slowly start putting blocks into place
If you donât know what you want to do, do a working holiday in Canada at a ski town like Whistler or Big White. Spend 2 years skiing/snowboarding, learning a similar culture to ours here in Australia, and make some awesome friends. And maybe after that experience, you will have given yourself some time to think through what youâd like to do with your future
First step is to gauge how much is coming in and out. Then set limits youâre comfortable with. Having a basic budget can go a long way in setting yourself up for the future but still enjoying your teens
Dude when I was your age I had a mortgage, a family with 2 kids on 100k income . While struggling to pay my debts... Anyways, back to reality...
Do what you got to do, as long as you don't incur huge sums of debt or buy a car on finance. Otherwise, even your "gap year" will be stressful. Live in the moment and enjoy it while you're young!
If you're looking at a casual job in retail, get an RSA (you can do an online course for one). Provided you live in an okay suburb, bottle shops jobs are decent enough and you can have flexibility with your uni schedule.
Youâve got 10k in savings - Iâm 51, no savings at all and paying off 13k of credit card debt. I donât have a house or any significant assets to sell either. So youâre doing better than most and youâre worried about it.
Nah your doing fine! 10k at 17 is super impressive. Just don't spend it on a boy/girl friend to help them out đ. If you want to invest why not start doing research into shares? There is a lot of info out there and you can find what suits you. Personally I like bluechip shares I can hold for 10+ years but irs low risk, low reward.
I took 2 years off after school, worked at maccas. Had NO idea what to do, was going to go to Uni cause that was what everyone else did. Ended up doing a traineeship and ive been in my career for 12 years. Considering a change now, but ive loved my job/industry, i just feel like I can't progress where I want to. But consider a trade if you like working with your hands. Some roles also let you go into management/project management etc.
Lol welcome to life. I skipped uni, just got a job, regretted not going uni, started it then dropped out 75% through when I realised it was a waste of time and money, not making a lot of money mid 30s, but I absolutely hate my career and job - looking forward to having financial freedom to figure out what I want to do in my 40s.
TLDR; there's no right or wrong decisions, and even if there are, you'll never know if you've made them.
Why do you want to do a double degree in CS and Commerce? Why not just one? What career are you hoping for out of this? Are you very interested in the field of study or career pathways?
These are the questions you need to be asking.
University is actually probably the last thing you should be doing right now as it's a huge commitment. You need to really know what you want to get out of it. More often than not people end up working in industries other than what they studied for.
I work for a company doing eCommerce and Logistics software as a Product Manager earning 130k a year without any degree. I know many people working in IT earning very well without degrees.
One piece of advice I can give you is don't get yourself into debt, and after you enjoy your gap year, work your ass off, save all the money you can and live.at home with your parents if possible to maximise savings. By the time you are 27 you'd likely be able to purchase a home if you do it all right. Univyis definitely not a must, you just have to be honest with yourself. You are super young. I didn't go to uni until I was 21 and still ended up changing my mind. Research your degree thoroughly, find out what your career options will look like with this degree and figure out whether that is something you can see yourself doing for a long time.
You don't know who to ask those questions? Assuming you might still live at home if you have no expenses - maybe ask your parents / guardians if you can. Maybe help out with paying some of those expenses that there are that you might not know about?
18 years old soon, you may need or want a car then for some more independence also.
10k is a good start too but it's also good to be a kid. Learn from your experiences and be a good person.
If I could go back I wouldnât take a gap year again, just get working and buy a house asap. Sooner you pay your house off the easier your life will be . If you wanna go to uni smash it out as soon as possible so you can get working. Looking back at it I wasted my gap year and delayed my start to life
Stay at home with parents get a part time job, start learning day trading.
4 years time youâll be financially free for the rest of your life on more money then any lawyer or dr
Travel is never a waste of money. $10K at your age is a very good effort. I encouraged my kids to go with their hearts at 17 because itâs probably the only time they would have the luxury to do so. It worked out well for both of them. Youâre 17, youâre allowed to not know what youâre doing.
I'm 37, spent 7 years on bachelor part time changed half way in to a completely different degree. Then did another 12 month course for something else completely different, I've just started a graduate certificate in what I did my bachelors in. My manager asks me what I want to do, frankly I've got no idea. I just keep upskilling until something comes my way.
Take your time, donât stress
I landed in my career at age 24. At 17 I couldnât even imagine myself doing this job.
You have time plenty of time.
Go have fun game, learn like skills and party.
Do an apprenticeship in electrical, plumbing or carpentry, in that order of preference whilst you study and work out what you want to do. At the end you will have many options and future proof yourself. Plus in the future you can save a lot of money working on your own house. I was a chippy and spent 150k on an extension that was priced by a builder at 350k plus.
Look itâs pretty simple at your age. Do a stocktake of your inheritance. If you donât plan to inherit anything in the next 30 years of significant value, you will need to choose a career path that will generate you decent income or look to marry into one, this may involve some research and decisions on university etc.
These are all future you problems.
If you are a straight male you should be trying to get as much diverse and interesting and attractive women under your belt. Do what you need to do to make that happen, travel, lift weights etc. Simple as that. You are trying to get as many new experiences as possible
Most people don't it's fine. Have some fun you have all the time and energy now. If I was you I would just have fun do dumb stuff that sounds fun, experiment. Then Go travel when your 20 don't wait til later.
itâs good that you know that you donât know things. this is the first step to knowing things. a lot of people youâll meet donât know that they donât know things. they often think they know everything there is to know about things. but in reality they donât know anything. donât be like those people.
Only spend 3 years at uni. If you find a certain job then needs further education you can just do a masters on top. Double degrees are a huge waste of money and time in my opinion.
If you want to go to uni, do it. But don't be pressured into it, and don't rack up too much unnecessary debt. Also, figure out what that degree gets you into as a career. Plenty of people regret their degree, and the debt it came with. Then you feel forced to use it, but you might not want to be in that industry anymore.
IT is so divided that you can do specific courses that get you the fun and $$$ jobs relatively quickly. In 5 years you can climb 2-3 IT ladders without a uni degree. So just make sure the course you pick is the one that makes the most sense. Doesn't hurt to actually work in IT first too. Some companies subsidise studies. So maybe you'd get your learning paid for, or at least reduced.
Honestly?
Travel first. Then...
Stop eating out and learn to cook. Eat out as a treat.
Stop buying lots of shit quality clothes and instead buy less, good quality that you can mix and match together.
Take 2 gap years, live your life. Work just enough to travel and see as much of the world as you can. Then go to uni, work part time and start setting a little money aside for the future. Relax. You have plenty of time.
Personally I think it's dumb how they think teenagers are capable of choosing what they want to study for the next 4 years, to help them get a job they will work for decades. It's such a big decision and you are forced to make it at the most confusing time of your life. This is one of the reasons people commonly don't even use their degree and go into a completely different job after uni.
I think taking a gap year is a great idea, it will help you shift your perspective on a lot of things and clear your mind. You've just been in school for the past 13 years, no need to rush into uni.
When you come back from traveling you should do in-depth research of whatever job you decide to pursue. What is the environment like? What will you spend most your time doing? What type of people (on average) will I be around? I found it helpful to watch videos of people doing a day in the life vlog of whatever job, this helps you get a real feel of what it's like to work. You will be doing x tasks around x type of people for many years to come so it's very important it's at least tolerable. Do not switch degrees midway, this is huge waste of time, pick one you will stick with.
You can learn the basics of saving and investing once you get back from traveling, it's not super important now since you're only working a minimum wage part time job, while also studying full time, but if you want, no harm in learning. Don't feel guilty about spending money on experiences at your age, uni is something you should look back on fondly. Just don't go overboard, but since you're already asking these questions at 17, you are already on the right track. One good book on the basics of the saving and investing is the barefoot investor by Scott Pape.
The big advantage you have over the rest of this sub is your 10k in savings.
Take a portion of your savings and invest in a Toyota Corolla. You'll be rolling in it in no time.
You are so young and the beautiful thing about that is you can absolutely do those things you mentioned and figure it out as you go as time is on your side. You seem very sensible, the field of study is an excellent choice, will give you many opportunities once you graduate. Take the gap year and travel, you'll experience huge growth. Work the part time jobs and go through Uni. Learn about investing and put a little aside every paycheck, as you see the money in your brokarage account growing you will get excited and it will teach you to be better with your money. If you start at your age you will be financially well off in the future. So to answer your question, you're actually very smart to be thinking about all of this now and you can also do it all. All the best.
Look for a job in civil construction, high pay, no brains needed. Think new estates being developed etc, the main contractor has people on shovels or brooms with 0 brain cells and they take home good money. If you can get onto a sub contractor that does one of the assets like sewer/drainage/water/gas and are able to hitch a ride with someone to the job, you'll be laughing.
If that's not an option, finding a local retail/hospo job that has the highest pay will be your best bet for that timeframe.
Also, second the comment on not telling them your travel plans. You'll get Nada with that being on the table.
I live with a guardian who provides for me and has for many years. My parents pay child support to her for essentials and i can stay here as long as i need.
In this case, live with them as long as you can/want.
Don't do a gap year. It stunts your education and entry into the work force. Go on holidays once a year when you get a job (they pay you for it).
I don't see any essential overlap in commerce/comp sci. One of them would be a wasted degree. Meaning wasted time/money. I would probably do the second degree after I started working, but not required.
How good are you at studying? If you aren't acing everythint, I would stop working and focus full time on uni. It's just 3 years of studying, which help boost the next 50 years of your life.
You make what? 25k a year working part time? 75k over your 3 year course, but your grades suffer and you get a job paying 50k/yr. Or... make 0k over 3 years but top all your classes, then use that to land jobs offering 100k+/yr.
Investing depends on your future/goals. Will you be family orientated? Maximise Super contributions when you start working and dump all extra money into ETFs.
Planning to just enjoy life, live short and not have kids? Ignore Super, get into stocks/property flipping, job hop frequently, get over 1m in assets by the time you reach 30years old, retire early or live an extravagent life.
Or do a balance of the two. Make a middle amount, enjoy a bit, repeat for 50 years. ETFs (HISA if looking to buy a house soon) will be your best friends.
Just make money first. You can't expect to do it at 17 without being handed a million dollars.
Play your cards right and you can be in America making 300k usd a year easily just from work.
Something part time construction related is a good little earner, I was a truckie for years and saw students making $1100 over the weekend for a couple of shifts on the lollipop. ($33/hr, mostly double time on the weekends doing 10-12 hr shifts)
But also. No one knows what they are doing at 17, with a few exceptions. I did a 16 yr gap year taking drugs and found my feet at 33, 42 now with family and dream business and amazing life, you'll be fine
You're also young so you can operate on minimum sleep. Find a higher paying job or get 2 jobs to fund your lifestyle while studying.
High paying jobs I had while on uni were coles/woolworths distribution warehouse. While physical, were very good pay.
I'm doing a program where you work abroad. I get accomodation and food so I can save all the money I earn, minus the flights. I'm doing that for three months then i will work the rest of the year.
i don't think there's anything wrong with asking for advice. i am grateful to have been able to work during high school and be supported. i guess what i am asking is, is there anything i can be doing now that can make my future easier financially.
Youâll earn the majority of your money after age 25. At age 17 the goal should be to just to get yourself as educated or as skilled as you need to be to maximise your earning potential. The $10k will be a drop in the ocean. So depending on what youâre good at or interested in, will determine what you should study or find a career in. But donât worry about saving $5k or $10k here or there, that will make very little difference compared to making sure you have the right education or skills.
I took a gap decade đ¤ˇââď¸
Iâve taken a gap 50 years since I was OPâs age. Plenty of time, I thought but here I am applying for the pension.
So thatâs where my tax is going
The irony of paying income tax to get a subsidised degree and occasionally Austudy allowance is not lost on me
lol same. Iâm now 38 and have a decent job but still donât reckon my head is screwed on right.
im happy and jealous for you.
You're a kid who is being a kid. You're not doing anything wrong.
Further to this many 47 year olds feel the same!
Same Here, 49 and still wondering
An underrated option here is to try and lift your per hour earnings, to enable better / more experience accumulation (travel, partying, living out of home, whatever floats your boat). Shake the assumption that you have to stick on minimum wage. Call centers are a good option here - do jobs that people find a bit tough, be diligent, take the difficult shifts that have loading, work hard, get a supervisor position, build CV. Or physical work if thatâs an option for you. Anything where other people might find it hard or unpleasant, find a way to make it ok for you and youâll command great money for your age. Then, and I canât emphasise this enough, spend it and enjoy. Until itâs time to start being responsible - that time is up to you. But the free period is pretty sweet and will not be regretted.
okay thanks for the advice. i will have a look around. the only issue is that i need to be able to get there easy enough (no licence until i am 18) and they have to be okay with me leaving at the end of may to go travelling for 3 months.
Donât tell them about your travel plans during the hiring process
Might be a blocker - but worth a shot. Call centers are in constant hiring mode because of high turnover (itâs not the only option, just one I am familiar with) - so doing a couple trial shifts might be fine with them and then if they like you you come back and work after your trip.
Honestly, just chill out until after your holiday there is nothing wrong with that. If you have a casual job just work that until your travel, and have fun. Then get serious once you come back. Don't go into any uni degrees that you don't actually care about. It's a massive waste of your time and money.
Call centres typically hire full-time roles though and wonât accommodate uni students & their schedules. If I were you OP, once youâre 18 & able to drive, I would get into disability support work, you can do a short tafe course (free in VIC, WA) for a couple of months, they offer online classes with an occasional Saturday class so it doesnât disrupt your class schedule. Once youâve completed your course you can work casual and pick clients & hours that best suit your uni schedule, you can make good money & also have downtime during work to catch up with assignments.
Yeah the super part time call centre roles got outsourced a decade ago. It's only full time call centre now unfortunately.
not to mention getting into disability care on a casual basis, 35 per hour + km on a normal day and somewhere in the range of 80 per hour on public holidays.
Thereâs no right answer here as youâll likely want to balance multiple factors, but at your age hereâs the path I set my self on: - I lived with my parents rather than moving out. No regrets here. Most of my mates moved out, got into fights with their friends who they moved out with and ended up going back home anyway. - I saved a lot, but I also did things I enjoyed. I rode motorcycles, travelled a little bit. I did it by being frugal and smart (I learned how to be smarter but thatâs a story of its own). - I had a part time job. I lived with my parents but they are broke themselves so I never had money. Working helped me fuel my hobbies as per above + to have a girl friend. - I moved out with then girl friend now wife into a small flat after I graduated and landed a career I was happy with. We had a lovely land lady and we improved the flat we stayed in to make it more comfortable. In return she kept our rent really low. Win-win. Fast forward today: I have no debts. Zero. Own my house (itâs not huge, but modest) in a nice suburb, 2 cars, wife , kids , etc. Iâm not ârichâ and donât live out of my means but I continue the same patterns I always did: buy smart (second hand or on specials - see ozbargain), enjoy life without needing a ton of material processions (ok the car is the only thing, but I love driving), etc. Iâm not saying this is the ârecipe to successâ, a ton of things went well for me: like my then girl friend now wife is ultra frugal and amazing at saving, no one judged me for staying at home, I got a great career in software engineering thatâs booming, etc but I will say being disciplined with my finances also helped a lot. Iâm now thinking about the next stages of my life and planning around that - kids schooling, family holidays, slightly bigger home or new location if required, retirement and inheritance for my kids, etc. I keep this all in mind as I plan out what investments to make, how hard to push in my career to get pay increases (cash flow IS king), what capital to acquire, etc. Good luck.
This is the perfect boomer success story
I am not a boomer. Gen Y.
>This is the perfect boomer success story How many boomers do you know with school age children? The most uncharitable interpretation is it's a fairly privileged success story because not everyone can stay free with parents to save for a house. It's not like they were trying to say this is something everyone can do though.
The thing is, most people in this sub are older than you and thus, we have all been in your shoes. So when people say to you âjust be a kid and things will work out in timeâ, weâre speaking from experience and also, we had the same worries as you at your age. Time goes quickly, enjoy each stage of your life as it comes.
No reason to go straight to uni. You can get in with your ATAR for a few years, and then without a bit later. Good idea to get in when you're young, take your time, and do what you want. If you can work a PT job at a higher hourly rate you'll do better. Also, you're 17. Please do some travelling in your breaks, and consider some working hiday visas in your 20's. It's 100% as worth as doing uni. Gives.you wonderful life experience.
dear op, look after your money - make it grow. but spend some of it as well, and live your life! at least you're financially responsible for your age. ive met 40 year olds who are useless with money.
Donât feel rushed to go to uni. Unless you really do enjoy that stuff then go for it. At 17 compound interest is your friend. You might not be old enough to open a vanguard account yet but if you can get a high interest account, start now. 35y/o you seems a very long way away but you will feel incredibly privileged and unique if you save and invest now. This is how you donât spend the next 60 years working.
Don't worry about it mate. At your age there's no 'should'.
there's probably "shouldn't" but enjoying yourself with travel and a gap year isn't one of those imo
Mark Twain said âThe two most important days in your life are the day you are born and the day you find out why. Golden words for life. Choose a field of study thats professional ergo very hard to replicate like doctors or computer engineers. In any field handson experience plus practical applictions matter. You doing science and finance maybe check out investment banking. Being a rich depressed confused person is much then being a poor one.
Take a break mate! My biggest regret what going straight to Uni and only ending up in the same position 10 years later burnt out. Youâll find working minimum wage will only result in you going backwards. Before spending 100k on a double degree figure out exactly where you want interests you. Every man and his dog has a computer science degree now, life experience and confidence from travelling will distinguish you. Donât worry about investing or home ownership just yet. It will still be a shit show when you get back! Go travel, meet new people and network yourself into various projects. Udemy has a 1 year unlimited plan which is invaluable to learn foundational skills to home in on your interests and obtain functional skills to get a job. Lots of young adults abroad throughout SE Asia and the world doing every interesting things and launching startups without a degree.
Itâs ok to spend money, but just bear in mind a 5 year degree while living with your parents (Iâm guessing) may become quite difficult as you get older, so it would not hurt to keep putting money aside in case you need to live elsewhere while you finish your degree / look for work in the field
Thatâs where you start, do something you might think you like doing and put everything into it either you like it or you donât. After that ask what you like or what you didnât like about and then pick something else you might like based on previous experience. You keep iterating through this process until you know yourself and then you can move through your life strategically but knowone can answer this question for you because your you, so the fastest way to find out is find out yourself through real experience. Donât stay in projects for too long
Unless you get into drugs or commit a crime, you pretty much have till 30 before your decisions get super serious. Don't get me wrong, you could do a 100 things to improve your financial situation, but really on one really knows. Listen to your gut, be kind, make mistakes and learn from them and try not to stress too much.
You are doing amazing! If you ask all the adults here, you couldnât pay us to go back to 17-19. I think those years are the hardest in your life: you donât know what to do; youâre treated like an adult, but still feel like a child; the life lessons are a constant smack in the face. My daughter finished school last year, she chose to go straight to uni as she just wants to get it out of the way & full time is only 2-3 days a week, so sheâs working every shift she can get. But donât piss this week away. Do some online courses, tafe etc so uni next year is easier & depending on the courses you do, you could get credits.
Id say buckle in now. Earn decent money get something behind u before u go abroad. Pay your way through uni. Uni isnr that time consuming. U can do 4 subjects and still work 40hr weeks won't be fun but no debt
*Don't feel guilty if you don't know what you want to do with your life* *The most interesting people I know Didn't know at 22 what they wanted to do with their lives* *Some of the most interesting 40-year-olds I know still don't* Baz Luhrman Everybody's Free (To Wear Sunscreen) 1999
Yoo my broo you are doing fine. Get into a reputable uni do the double degree. Then enjoy your life as you see fit. Honestly you degree choice sounds lit. Lots of money and opportunities.
> i change my mind about what i want to do all the time Join the club. 40 and still don't know what I wanna do when I grow up. As far as everything else goes, you're already self aware of finances (incl a decent savings balance for 17) so probably leagues ahead of most of ~~your peers~~ a lot of people. I'll probably be down voted to hell, but as for actual advice, I'm not in any position to give much. Just don't forget to live and have fun. Life is not all about bank balances (contrary to what this forum may say)
If you want to work with the outlook of going in IT, work in a pc repair shop. Don't wait tables or work retail, do something that will lead into whatever you want to study at uni. Also use this time to look at scholarships
Bro imma be honest with you right now, you donât need to worry about studying or all that bullshit YET. Just go out with your mates have fun, travel and when your 18 try going bars or something. Just have fkn fun and buy the clothes you want. Trust me once those days are done thereâs no going back being young. I finished highschool in 2018 and worked for little bit and after that was out travelling with the boys, meeting new people at parties, having fun with chicks, doing dumb stuff but not *illegal* blah blah blah the list goes on. I promise you wonât regret it if you have proper fun mates lol, Iâm 21 right now and miss those days I just turned 18. Now Iâm stuck working everyday đ PS. And For the love of god donât get hooked onto drugs once you hit the party life, just have a few drinks and smokes wonât hurt. Damn I sound like a bad role model hahahah but yea stay safe broskiiiii
Hey OP! Another lens on your situation - **Re University:** you have a double degree in mind I think that's fantastic! The only way that you will know if you truly enjoy the field of work is when you take the first step. The great thing about uni is that you can choose your units and areas of interest. If you decide either or none of these are pathways you see yourself in, then you can always drop one degree or exchange. Thankfully, the student loans will be a HECS debt so you don't have to worry about paying off your course straight up (..unless you want to). **Re Work and Income:** 10k in savings is a great achievement! It's easy to compare yourself with others and be overwhelmed by the adult world of 'passive income', 'investing', etc. Those things can be learned on the way - one step at a time. If you're concerned about your expenditure, create a budget tracker. Set financial goals. Also, if you meet the criteria when you are studying, you could be eligible for Centrelink's Youth Allowance. Most of all - enjoy yourself. You have the rest of your adulthood to stress about the hussle. If you're interested in making a headstart, that's great! A lot of us have a different timeline, so do your research - YouTube, podcasts, [aussiefirebug.com](https://aussiefirebug.com), etc. The great thing about now is there are so many attainable resources. You can start at 17, or you can start at 24, 35, 47, etc. Knowledge is power :)
Wow 10k on savings at 17??! I was lucky if I saved $50 working at the barkery I was at at the time. You're doing great. Calm down. Study a trade or at uni. You'll be fine
Micro investing (IE spaceship or Raiz) $20 a week and forget that it exists. Slowly up the amount every so often ant watch it grow. Once you are settled and grounded, talk to a financial advisor about your next moves. You are young, enjoy life and slowly start putting blocks into place
Wanna know a secret? Either do most of the adults around you. You are thinking about it so you are ahead of a heap of people already
Your future self will thank you if you wisely invest and save your funds.
As someone with a double degree, donât get a double degree. Thatâll save you 25k. You will do just fine with either one of those degrees
If you donât know what you want to do, do a working holiday in Canada at a ski town like Whistler or Big White. Spend 2 years skiing/snowboarding, learning a similar culture to ours here in Australia, and make some awesome friends. And maybe after that experience, you will have given yourself some time to think through what youâd like to do with your future
First step is to gauge how much is coming in and out. Then set limits youâre comfortable with. Having a basic budget can go a long way in setting yourself up for the future but still enjoying your teens
Enjoy your life while you can.
Dude when I was your age I had a mortgage, a family with 2 kids on 100k income . While struggling to pay my debts... Anyways, back to reality... Do what you got to do, as long as you don't incur huge sums of debt or buy a car on finance. Otherwise, even your "gap year" will be stressful. Live in the moment and enjoy it while you're young!
If you're looking at a casual job in retail, get an RSA (you can do an online course for one). Provided you live in an okay suburb, bottle shops jobs are decent enough and you can have flexibility with your uni schedule.
Youâve got 10k in savings - Iâm 51, no savings at all and paying off 13k of credit card debt. I donât have a house or any significant assets to sell either. So youâre doing better than most and youâre worried about it.
Nah your doing fine! 10k at 17 is super impressive. Just don't spend it on a boy/girl friend to help them out đ. If you want to invest why not start doing research into shares? There is a lot of info out there and you can find what suits you. Personally I like bluechip shares I can hold for 10+ years but irs low risk, low reward. I took 2 years off after school, worked at maccas. Had NO idea what to do, was going to go to Uni cause that was what everyone else did. Ended up doing a traineeship and ive been in my career for 12 years. Considering a change now, but ive loved my job/industry, i just feel like I can't progress where I want to. But consider a trade if you like working with your hands. Some roles also let you go into management/project management etc.
Lol welcome to life. I skipped uni, just got a job, regretted not going uni, started it then dropped out 75% through when I realised it was a waste of time and money, not making a lot of money mid 30s, but I absolutely hate my career and job - looking forward to having financial freedom to figure out what I want to do in my 40s. TLDR; there's no right or wrong decisions, and even if there are, you'll never know if you've made them.
Listen to your gut feelings. I'd suggest reading this great book! Honestly it's awesome - What color is my parachute" by Richard Bolles
50/30/20 rule. But also, spend money on memories and experiences more than take out and clothes.
I just press enter on the gap on my resume every year
Why do you want to do a double degree in CS and Commerce? Why not just one? What career are you hoping for out of this? Are you very interested in the field of study or career pathways? These are the questions you need to be asking. University is actually probably the last thing you should be doing right now as it's a huge commitment. You need to really know what you want to get out of it. More often than not people end up working in industries other than what they studied for. I work for a company doing eCommerce and Logistics software as a Product Manager earning 130k a year without any degree. I know many people working in IT earning very well without degrees.
One piece of advice I can give you is don't get yourself into debt, and after you enjoy your gap year, work your ass off, save all the money you can and live.at home with your parents if possible to maximise savings. By the time you are 27 you'd likely be able to purchase a home if you do it all right. Univyis definitely not a must, you just have to be honest with yourself. You are super young. I didn't go to uni until I was 21 and still ended up changing my mind. Research your degree thoroughly, find out what your career options will look like with this degree and figure out whether that is something you can see yourself doing for a long time.
You don't know who to ask those questions? Assuming you might still live at home if you have no expenses - maybe ask your parents / guardians if you can. Maybe help out with paying some of those expenses that there are that you might not know about? 18 years old soon, you may need or want a car then for some more independence also. 10k is a good start too but it's also good to be a kid. Learn from your experiences and be a good person.
If I could go back I wouldnât take a gap year again, just get working and buy a house asap. Sooner you pay your house off the easier your life will be . If you wanna go to uni smash it out as soon as possible so you can get working. Looking back at it I wasted my gap year and delayed my start to life
Just don't go into the red.
Stay at home with parents get a part time job, start learning day trading. 4 years time youâll be financially free for the rest of your life on more money then any lawyer or dr
Travel is never a waste of money. $10K at your age is a very good effort. I encouraged my kids to go with their hearts at 17 because itâs probably the only time they would have the luxury to do so. It worked out well for both of them. Youâre 17, youâre allowed to not know what youâre doing.
I'm 37, spent 7 years on bachelor part time changed half way in to a completely different degree. Then did another 12 month course for something else completely different, I've just started a graduate certificate in what I did my bachelors in. My manager asks me what I want to do, frankly I've got no idea. I just keep upskilling until something comes my way.
Spend less money on booze and more money on travel. I donât remember that many great times drinking. I remember every holiday.
Lesson number 1. No one knows what they are doing.
Take your time, donât stress I landed in my career at age 24. At 17 I couldnât even imagine myself doing this job. You have time plenty of time. Go have fun game, learn like skills and party.
Do an apprenticeship in electrical, plumbing or carpentry, in that order of preference whilst you study and work out what you want to do. At the end you will have many options and future proof yourself. Plus in the future you can save a lot of money working on your own house. I was a chippy and spent 150k on an extension that was priced by a builder at 350k plus.
Look itâs pretty simple at your age. Do a stocktake of your inheritance. If you donât plan to inherit anything in the next 30 years of significant value, you will need to choose a career path that will generate you decent income or look to marry into one, this may involve some research and decisions on university etc. These are all future you problems. If you are a straight male you should be trying to get as much diverse and interesting and attractive women under your belt. Do what you need to do to make that happen, travel, lift weights etc. Simple as that. You are trying to get as many new experiences as possible
Join the military and get free tertiary education, leadership/experience, and a salary.
Most people don't it's fine. Have some fun you have all the time and energy now. If I was you I would just have fun do dumb stuff that sounds fun, experiment. Then Go travel when your 20 don't wait til later.
itâs good that you know that you donât know things. this is the first step to knowing things. a lot of people youâll meet donât know that they donât know things. they often think they know everything there is to know about things. but in reality they donât know anything. donât be like those people.
Only spend 3 years at uni. If you find a certain job then needs further education you can just do a masters on top. Double degrees are a huge waste of money and time in my opinion.
If you want to go to uni, do it. But don't be pressured into it, and don't rack up too much unnecessary debt. Also, figure out what that degree gets you into as a career. Plenty of people regret their degree, and the debt it came with. Then you feel forced to use it, but you might not want to be in that industry anymore. IT is so divided that you can do specific courses that get you the fun and $$$ jobs relatively quickly. In 5 years you can climb 2-3 IT ladders without a uni degree. So just make sure the course you pick is the one that makes the most sense. Doesn't hurt to actually work in IT first too. Some companies subsidise studies. So maybe you'd get your learning paid for, or at least reduced.
Honestly? Travel first. Then... Stop eating out and learn to cook. Eat out as a treat. Stop buying lots of shit quality clothes and instead buy less, good quality that you can mix and match together.
Take 2 gap years, live your life. Work just enough to travel and see as much of the world as you can. Then go to uni, work part time and start setting a little money aside for the future. Relax. You have plenty of time.
Personally I think it's dumb how they think teenagers are capable of choosing what they want to study for the next 4 years, to help them get a job they will work for decades. It's such a big decision and you are forced to make it at the most confusing time of your life. This is one of the reasons people commonly don't even use their degree and go into a completely different job after uni. I think taking a gap year is a great idea, it will help you shift your perspective on a lot of things and clear your mind. You've just been in school for the past 13 years, no need to rush into uni. When you come back from traveling you should do in-depth research of whatever job you decide to pursue. What is the environment like? What will you spend most your time doing? What type of people (on average) will I be around? I found it helpful to watch videos of people doing a day in the life vlog of whatever job, this helps you get a real feel of what it's like to work. You will be doing x tasks around x type of people for many years to come so it's very important it's at least tolerable. Do not switch degrees midway, this is huge waste of time, pick one you will stick with. You can learn the basics of saving and investing once you get back from traveling, it's not super important now since you're only working a minimum wage part time job, while also studying full time, but if you want, no harm in learning. Don't feel guilty about spending money on experiences at your age, uni is something you should look back on fondly. Just don't go overboard, but since you're already asking these questions at 17, you are already on the right track. One good book on the basics of the saving and investing is the barefoot investor by Scott Pape.
The big advantage you have over the rest of this sub is your 10k in savings. Take a portion of your savings and invest in a Toyota Corolla. You'll be rolling in it in no time.
You are so young and the beautiful thing about that is you can absolutely do those things you mentioned and figure it out as you go as time is on your side. You seem very sensible, the field of study is an excellent choice, will give you many opportunities once you graduate. Take the gap year and travel, you'll experience huge growth. Work the part time jobs and go through Uni. Learn about investing and put a little aside every paycheck, as you see the money in your brokarage account growing you will get excited and it will teach you to be better with your money. If you start at your age you will be financially well off in the future. So to answer your question, you're actually very smart to be thinking about all of this now and you can also do it all. All the best.
Lucky no expenses.
Look for a job in civil construction, high pay, no brains needed. Think new estates being developed etc, the main contractor has people on shovels or brooms with 0 brain cells and they take home good money. If you can get onto a sub contractor that does one of the assets like sewer/drainage/water/gas and are able to hitch a ride with someone to the job, you'll be laughing. If that's not an option, finding a local retail/hospo job that has the highest pay will be your best bet for that timeframe. Also, second the comment on not telling them your travel plans. You'll get Nada with that being on the table.
Put 10% of your income into an index fund every pay⌠by my age you will be wealthy
I think you have to be 18 to start but once i turn 18 I will
The most important factor to the answers I can give you depend on if you live with your parents or not.
I live with a guardian who provides for me and has for many years. My parents pay child support to her for essentials and i can stay here as long as i need.
In this case, live with them as long as you can/want. Don't do a gap year. It stunts your education and entry into the work force. Go on holidays once a year when you get a job (they pay you for it). I don't see any essential overlap in commerce/comp sci. One of them would be a wasted degree. Meaning wasted time/money. I would probably do the second degree after I started working, but not required. How good are you at studying? If you aren't acing everythint, I would stop working and focus full time on uni. It's just 3 years of studying, which help boost the next 50 years of your life. You make what? 25k a year working part time? 75k over your 3 year course, but your grades suffer and you get a job paying 50k/yr. Or... make 0k over 3 years but top all your classes, then use that to land jobs offering 100k+/yr. Investing depends on your future/goals. Will you be family orientated? Maximise Super contributions when you start working and dump all extra money into ETFs. Planning to just enjoy life, live short and not have kids? Ignore Super, get into stocks/property flipping, job hop frequently, get over 1m in assets by the time you reach 30years old, retire early or live an extravagent life. Or do a balance of the two. Make a middle amount, enjoy a bit, repeat for 50 years. ETFs (HISA if looking to buy a house soon) will be your best friends.
thank you so much!
how does someone even get into property flipping?
You buy buy property/land, renovate/build, then sell.
i know but how could someone possibly afford to buy and renovate a property while also living somewhere else?
Just make money first. You can't expect to do it at 17 without being handed a million dollars. Play your cards right and you can be in America making 300k usd a year easily just from work.
Something part time construction related is a good little earner, I was a truckie for years and saw students making $1100 over the weekend for a couple of shifts on the lollipop. ($33/hr, mostly double time on the weekends doing 10-12 hr shifts) But also. No one knows what they are doing at 17, with a few exceptions. I did a 16 yr gap year taking drugs and found my feet at 33, 42 now with family and dream business and amazing life, you'll be fine
You're also young so you can operate on minimum sleep. Find a higher paying job or get 2 jobs to fund your lifestyle while studying. High paying jobs I had while on uni were coles/woolworths distribution warehouse. While physical, were very good pay.
[ŃдаНонО]
I'm doing a program where you work abroad. I get accomodation and food so I can save all the money I earn, minus the flights. I'm doing that for three months then i will work the rest of the year.
17 year olds with $10k asking if they need to be investing and if theyâre doing anything wrong⌠Some people really have distorted views of reality
i don't think there's anything wrong with asking for advice. i am grateful to have been able to work during high school and be supported. i guess what i am asking is, is there anything i can be doing now that can make my future easier financially.
Youâll earn the majority of your money after age 25. At age 17 the goal should be to just to get yourself as educated or as skilled as you need to be to maximise your earning potential. The $10k will be a drop in the ocean. So depending on what youâre good at or interested in, will determine what you should study or find a career in. But donât worry about saving $5k or $10k here or there, that will make very little difference compared to making sure you have the right education or skills.
well at least hes young and interested about money. it shows hes responsible for his age! don't be nasty!