In a world where student debt is skyrocketing and graduate jobs are scarce, it's no wonder that more and more young people are choosing apprenticeships over university. Ellie Keon, a 26-year-old from Farnborough, Hampshire, is a prime example of this trend. She ditched the traditional university path to pursue an apprenticeship, and it paid off big time. With her savings and smart financial decisions, she was able to buy her dream London flat at just 26 years old.
Ellie's journey began when she realized that the prospect of being saddled with big debts and still having to fight to get a job at the end of university didn't seem worth it. Her mother's words of wisdom resonated with her, and she decided to sign up for an apprenticeship instead. This allowed her to save enough cash to buy her dream home at 26, without the burden of student debt.
The apprenticeship route combines on-the-job training with classroom learning, meaning you gain professional qualifications without incurring any debt. Ellie's first apprenticeship was a one-year level four apprenticeship with a public relations company, starting on a salary of £16,500 a year. This may seem like a low wage, but employers justify this by arguing that taking on apprentices costs them a lot to train up.
Ellie's second apprenticeship was a digital marketing one at level three, lasting for a year, with a starting salary of around £21,000. By the time she had finished her apprenticeship in 2021, she had completed her apprenticeship and saved around £20,000 by 21. She rose through the ranks and stayed with the company for five years, soaking up knowledge and making a valuable network of connections at the same time.
Ellie's financial success is not just due to her smart choices, but also to her supportive family. Her parents let her live rent-free in the family home and paid for food, which allowed her to put away £300 a month into her savings for nearly four years. She also made use of the Lifetime Isa scheme aimed at first-time buyers, which gave her an extra £5,000 from the government.
Ellie's story is a testament to the power of apprenticeships. It's a route that allows you to gain professional qualifications without incurring any debt, and it can propel you further and faster in your career. It's no wonder that more and more young people are choosing this path over university.
However, it's important to note that apprenticeships are not a one-size-fits-all solution. The starting salaries for apprenticeships are often between £20,000 and £25,000, and the training can last from 12 months to six years. But for those who are willing to commit to the program, the rewards can be significant.
In my opinion, the apprenticeship route is a fascinating and innovative way to gain professional qualifications without the burden of student debt. It's a route that allows you to learn on the job, and it can propel you further and faster in your career. But it's not for everyone, and it's important to consider all the factors before making a decision. Personally, I think that apprenticeships are a great option for those who are willing to commit to the program and are looking for a more hands-on approach to learning.
