To ask what financial advice you would give a new graduate?

[namechange5965]

I am in my 20s and just finished university and hoping to get a graduate job soon. I grew up poor so the idea of having savings or being able to buy a house was something I had never really thought about until now. I know next to nothing about how to manage finances and it is something I can't really ask my parents.

I was wondering what kind of financial advice you would give to your adult DC when they are in their early to mid 20s just starting adulthood? How much should they be saving? What kind of amount in savings should they be aiming for if they want to buy a house?

I'm feeling a bit anxious as all of my friends from university have quite significant savings despite us all being new graduates and a few have parents who have got house deposits saved already for them. I feel quite behind and anxious that my adulthood is already not off to the best start which I know is silly... I also feel guilty as my attitude with money so far has not been great. Having money is new and I spend it on things I shouldn't (e.g. expensive makeup when I could make do with cheaper brands). I think because it has been so novel for me I have been spending it on the kinds of things I feel like I missed out on as a teenager. But I am putting my foot down now and aiming to be more sensible.

I know this is quite a broad and unspecific question and I apologise.

and invest in developing skills that are specialist, rare and able to be performed in a flexible way

This is great advice. Pursue careers in growth areas where opportunities will multiply rather than decease. My friends who became journalists and librarians are poor as church mice, but the data scientists and software engineers are coining it.

Also, no matter what your job title, a flair for sales/commercial opportunities will stand you well.

I can't thank you all enough for all of the advice you have given me. I really, really appreciate it. You have given me lots of think about that had previously never crossed my mind. I will bookmark this thread and I expect I will come back to this thread many times over the next few years to reread this advice.