Hello, I'm 21, UK based, and looking to start FIRE. I am a Deloitte apprentice, meaning I started as an analyst at 18 after leaving school.

Currently my living costs = income (£25k). I'm hoping to be promoted to Consultant next September, giving me a £13k pre-tax pay rise. I have a £1k emergency fund, that's it.

My numbers are tiny compared to others here, but how would you start from my position?

likeuplifting
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I don’t have anything helpful to say but good job starting to think about this so early 🙂

likeuplifting

P.S. I grew up poor, and have to rent in London due to a negative home environment. My current expenditure (where income = outgoings) is an investment in myself, my growth, and well-being.

P.P.S. I intent to apply to MBB to increase my income significantly, however don't have a prestigious education, so am focused on networking.

P.P.P.S. Yes, £25k in London is painful ;)

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Congrats on taking important steps for yourself in general. I have no doubt you’ll continue to do so.

In the US, roommates are common. If that’s a savings option, I’d recommend. Then, rainy day. Then savings (not sure what UK offers, but lower taxes could be nice).

One thing I will say is that I think you’re on the right track. A lot of people try to make pocket change by selling clothes online, starting an online “side hustle” etc. (Which so not a bad thing but just don’t get distracted by the “noise”.) You’re in a profession and a good one too. Just focus on doing a good job at work and getting promotions and maybe not so much on the side hustles. I didn’t make much starting out as a lawyer and struggled during school, but I kept the focus on just progressing within ye career and that helped me get into a more higher earning position. You might have to struggle for a few years without having much left over to save the only way out of this is just to earn more money.

You’re already ahead having had this realisation at such a young age. At 21 I was also earning £25k-ish in London, now >£1m NW 10 years later.

Avoid lifestyle inflation and take sensible risks in your career jumps.

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