In our How I Manage My Money series we aim to find out how people in the UK are spending, saving and investing money to meet their costs and achieve their goals.

This week we speak to Richard Šamko, 20, who lives in Derby with his mum while studying at university. Richard is ambitious and wants to buy a home within four years. He’d like a salary of at least £100,000 a year and £70,000 in savings by the time he is 50. Richard has opted out of his work pension, but plans to start paying into one soon.

Monthly budget

My monthly income: I take home about £1,150 a month from my part-time job as a duty manager at a hotel. I also make around £650 per month via MyPocketSchool by taking on freelance social media manager jobs.

I receive a student maintenance loan and tuition fee loan. These

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