Hello all,
26m, London, 30k annual salary (expected pay rise for the next tax year) with a stable accounting job. The salary is such as I only started about 18 months ago and doing exams to become qualified.
I have been fortunate enough to have maxed out my £20k Individual Savings Account (ISA - tax free investment/ savings wrapper) allowance for 2024/2025, with money is in the Vanguard FTSE All-World and S&P500. This has been made possible with the fortunate position of not paying rent at home and only financially contribute with some family shopping. I am pretty frugal in my spending in terms of the basics such as not eating/ drinking out and planning WFH days on when my dad drives into work (my workplace is enroute his journey and allows for good 1-2-1 bonding time). This does not stop me from socialising with friends, occasional trips abroad and even contributing towards a special bday trip for my parents to some states in USA earlier in the tax year.
There is about 2 weeks off from work this month, in which I have pondered about going on a last minute holiday to Brazil without dipping into my ISA. The initial plan was to put this money towards maxing out my LISA asap for the 2025/26 allowance and letting the money accrue in a HYSA for the time being, however I have stupidly put the money into an invest account with money in the the Vanguard FTSE All-World and S&P500. Since putting the money in, I have lost about £150. My concern now is taking the money out and humbly taking the loss of £150 and pay for the holiday within my budget or wait it out in the longterm.
Additionally. I am not too worried about a rainy day stash of money. Most of this months salary can just be allocated to emergency savings then added to my ISA from the end of April instead.