An 18-year-old student in full-time education has revealed how she saves thousands of pounds using a simple monthly rule. India Barrett, from Berkeley, Gloucestershire, has built up £12,000 in savings and investments while studying for her A Levels.
India has always been passionate about saving and taught herself to invest through YouTube videos after being inspired by her business studies lessons. She had already accumulated a nest egg for investments before she was legally allowed to invest.
While juggling revision, India works 40 hours a week at a Thai restaurant and earns money through TikTok. She puts her success down to the same money rule she applies each month: after covering essentials, she saves the rest.
She said: 'I've always been very money driven. When I started studying business in college, it made me want to save lots of money. I'm in college three days a week and work four days a week. I don't really have a day off. As soon as my pay check comes in, I budget everything I need for the month and put the rest in savings.'
India invests around £600 a month and puts about the same amount in savings. She advises: 'As soon as you get a job, no matter what age, put a little bit away each month, even if it's just £10, because it all adds up.'
She began saving at 16 and set money aside for investments before turning 18. Around five months ago, she became serious about saving and taught herself investing through YouTube and TikTok tutorials.
'I lost a bit of money at the start because I didn't really know what I was investing in,' she admitted. 'Then I started researching what stocks I was investing in, and that made me more confident.'
India earns £10.85 an hour at the restaurant, bringing in £18,000 a year. Her TikTok account @indiadarcey earns up to £2,000 a month from branded posts, giving her a yearly income of around £28,000.
When her wages arrive, she sets aside money for food, car, petrol, and other outgoings. She pays £250 monthly rent to her parents and allocates £100 for treats like coffee, clothes, and shoes. The rest goes into savings.
She deposits £600 into her savings account and £600 into her Trading 212 Stocks and Shares ISA each month, representing about 60% of her earnings. She currently has £5,000 in investments, £4,000 in a Lifetime ISA, and £3,000 in an emergency fund.
India is saving for a house deposit and aims to have £100,000 in investments by age 25. She uses four credit cards and five debit cards for their perks, such as getting £100 off a flight to Paris using Avios points from her American Express card.
She encourages other young people to start saving as soon as they get a job, even if it's just £10 a month.
