Money Makeover: 27 year old Vet

The Independent has a money makeover for a 27 year-old vet who wishes to go travelling in a few years.

The stats:

She is 27, has a basic salary of £24,500 (although with various benefits she really earns about £34,000). She has around £7,000 in savings in total (including money in a savings account and ISAs, but is yet to start investing in a pension.

The experts’ views:

She needs to get “back to basics” with her finances and work out how much she needs to save in order to go travelling. She might consider a buy-to-let property so that she has something to return to when she comes back. She should definitely join her company pension scheme as soon as possible, and be putting around 14% of her salary into it, at least.

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