I don’t usually reflect too much on my career so far. I have no regrets – I love to write and talk about everything I do and there’s no point rueing past missed chances or anything of that nature.

But there was one really clear point at which my career (which began in 2012 as a freelance journalist) could have gone quite differently.

That is because, for the briefest of moments, I considered doing a masters degree.

It was 2012 and my undergraduate degree was wrapping up. I had studied History and Spanish and was really not that clear on what I wanted to do next.

Unlike many of my (now very successful!) peers, I didn’t try to get on any graduate programs – seemed like too much paperwork and box ticking for my liking.

Instead, I kind of just drifted until effectively an opportunity punched me in the mouth. The rest, as they say, is history – and here I am now 13 or so years into a career in journalism.

But for a moment during that drift – I seriously looked at the idea of doing a masters. I wanted to do international relations, vaguely attracted to the idea and (self-conceived) notions of life as an international diplomat.

One thing really stood in my way though, I had no idea how to pay for it. It was that stumbling block, more than anything else, that stopped me from pursuing it.

At this time, the Government’s own postgraduate loan system had yet to be created – only arriving in 2016.

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Return on investment

The job market for graduates in 2012 was pretty tough. In 2025, it is by all accounts absolutely dreadful.

With so many people now getting undergraduate degrees the need to stand out is rising constantly, making masters and even doctoral degrees more attractive.

In the latest Mouthy Money podcast, we met with Rishi Zaveri, one of the founders of higher education lender Lendwise to discuss. Rishi was emphatic – masters degrees make a huge difference to lifetime earnings. It represents a considerable and valuable investment in onself and one’s career.

This is fairly evident through Government figures on it: the average graduate salary is £26,000, while for a masters grad this goes up to £29,500 – a cool 13.5% difference.

Scale that up over a 40-year career and the potential for long-term earnings and pension savings – cannot be understated.

The return on your personal educational investment could be invaluable – even if you have to take on some debt to do it.

That being said, I don’t regret that I never took a masters, I am grateful for the career I have had so far. But my pension might not be so grateful day, although I guess we’ll never really know!

Photo credits: Pexels

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Starting a emergency fund is one of those things we might not think about while we’re still living at home.

But most of us in sixth form and college are starting to manage our own money, whether it’s from a part-time job, an allowance, or birthday cash. It feels good to have a bit of extra money.

But how many of us are actually ready for financial surprises? Saving up for a new phone or a holiday is great, but here’s the reality: what happens when your phone breaks or you suddenly need to pay for something unexpected?

That’s where an emergency fund steps in, and it’s something most of us forget about. 

I asked three of my friends: Bing, Abbie, and Valentine, about their savings habits, and none of them had a dedicated emergency fund.

Bing said, “I’ve got a savings account, but it’s more for fun stuff, not emergencies.”

Abbie added: “If something happened, I’d probably just ask my parents for help.”

Valentine shared a similar view: “I don’t have a separate fund for emergencies, but I try to save a bit from my pay check.” 

This got me thinking: how prepared was I? A couple of months ago, I had a wake-up call when my laptop suddenly broke down just before an important deadline.

I didn’t have enough savings to cover the repair, so I had to borrow money from my mum and talk about stressful!

It was a real reminder of how unexpected costs can throw everything off. After that, I decided to set up my own emergency fund. 

An emergency fund is basically money you save just for those ‘oh no’ moments. It covers things like replacing a broken phone, fixing a laptop, or even paying for last-minute travel. It doesn’t need to be a huge amount either.

For us young students, setting aside £100 or £200 can cover most minor emergencies. And you don’t have to save it all at once. By putting away £10 a month, you can build it up slowly without feeling like you’re missing out on fun things. 

So why don’t more of us do it? 

Well, for starters, emergency funds don’t sound as exciting as saving for a concert ticket or new shoes.

But think of it this way: having that financial safety net gives you peace of mind. You won’t have to scramble to ask for help or dip into savings meant for something else. And when emergencies do happen, and they will, you’ll be glad you’re prepared. 

It’s easy to see why most of us don’t think about it. Some of us don’t feel like we earn enough to save, and others believe emergencies won’t happen to them. But life is unpredictable, and it’s better to be ready.

Bing commented: “I always think I won’t need an emergency fund because my parents would help me.”

Relying on family might seem like a backup plan, but having your own fund makes you more independent and responsible. And trust me, the sense of freedom that comes with it is worth it. 

More from Joel Davies

How to Start Your Emergency Fund 

The best part is that setting up an emergency fund is easy. You don’t need to stash away loads of cash right away. Even putting aside a fiver or tenner each month can make a big difference over time.

To avoid temptation, keep it separate from your regular savings. Whether it’s in a different bank account or a jar at home, the key is to make sure you won’t dip into it unless you really need it. 

In the end, having an emergency fund as a sixth former is about taking control of your money. It’s not about planning for the worst, but about being ready for whatever life throws at you.

As I found out the hard way, being unprepared can cause a lot of stress, and setting up a fund now will save you from scrambling later on.

So, whether you’re saving for your next adventure or that must-have gadget, make sure to put a little aside for those ‘just in case’ moments. 

Trust me: you’ll thank yourself when you do. 

Photo credits: Pexels

The post Why every sixth former needs an emergency fund (and how to start one)  appeared first on Mouthy Money.