80: Early Stages Planning - Age 18 to 30

What should you do with your first payslip? How much should you be paying into your pension? And how do you balance saving for a house, travelling, and enjoying life in your 20s? In the first episode of our new life stages mini-series, Matthew and Joe explore the key financial priorities for people aged 18-30. From understanding tax, National Insurance and workplace pensions to building an emergency fund and saving for your first home, they discuss the foundations that can set you up for long-term financial success. Using a practical case study, they examine how to prioritise competing goals such as paying off debt, building savings, travelling, and planning for the future, while highlighting why good financial habits matter more than getting every decision perfectly right. Whether you're starting your career, helping a son or daughter navigate their finances, or simply looking to refresh your knowledge, this episode offers practical guidance on making informed financial decisions in the early stages of adulthood. In this episode: Understanding your first payslip Tax, National Insurance and workplace pensions explained The value of employer pension contributions Building an emergency fund Saving for a first home and Lifetime ISAs Cash savings vs investing for shorter-term goals Protecting your income and future earning potential Finding the right balance between saving, spending and enjoying life -- CHAPTERS 00:00 - Introduction 03:10 - Understanding Your First Payslip 09:22 - Time Is Your Superpower 10:45 - How Should I Be Using My Money 15:30 - Saving For The Long Term 22:47 - How Do You Protect Yourself? 24:55 - Case Study: How to Prioritise 28:31 - What Matters Now and What Can Wait? -- LIVE Q&A Join our next live Q&A by registering on our website: https://www.retirewellpodcast.co.uk/events -- TALK TO US Call us: 0191 384 1008 Email us: retirewell@wealthofadvice.co.uk Website: www.retirewellpodcast.co.uk -- SUBSCRIBE TO OUR NEWSLETTER www.retirewellpodcast.co.uk --- Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.