So, it’s 2021, and you’re thinking of getting a trade under your belt, and are looking at apprenticeships, and the apprentice minimum wage 2021. Congratulations, you have started to plan your future! Read on to find out about your earnings as an apprentice, and 1 Crazy Way to Achieve More!
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We All Start Somewhere! Apprentice Minimum Wage 2021
As an apprentice, you’ll be learning a trade from scratch, possibly from a base of little knowledge or experience. As you progress, you can expect to increase your earnings per hour. However, to start at least, you are safe in the knowledge that you have to be paid at least the legal minimum for the position, as set by government periodically.
This rate depends on a couple of factors:
- Your age
- If this is the first year of your apprenticeship
Under 19 years of age, you will be on the Apprentice Rate, as a minimum.
For 19 year olds and above, you move to the National Minimum Wage, but only once you have completed the 1st year of your apprenticeship.
From Age 23 onward, the National Living Wage applies.
Completing your apprenticeship will stand you in good stead for the future. You will have experience and a recognized vocational qualification under your belt. A good basis for your CV going forward.
Are You Also Thinking Longer Term?
Have you started thinking of a longer term strategy for your future?
What sort of life do you envisage for yourself?
Do you have an idea of how you want your life to be in 5, 10, 20 years time?
Are you intending to aim for a steady income living where you are today, or do you have the urge to travel?
Is house ownership, settling down, and having a family on your horizon?
Is starting your own business something that appeals to you?
Crucially, do you want a standard life as an employee, working to normal retirement age, or would you like to have more flexibility in your life, and perhaps work on your own timescale?
Whatever your future has is store for you, it is a great idea to give some thought as to how you’d like it to turn out. This time and stage of your life, is the best time to really consider these points.
You are at the perfect age to take the greatest advantage of your time going forward!
Consider Getting Fired!
“Wait! But, I’ve only just got a job! Why do I have to worry about getting fired?”
Don’t worry! By this, I’m talking about F.I.R.E., which is an acronym for Financial Independence, Retire Early.
This involves structuring your finances to provide a fund that can build over the years. The idea being, to provide a sum of money which will produce a passive income large enough to live on, and much earlier than the Government’s “Normal Retirement Age”.
This, hopefully, can be achieved by careful planning, budgeting, and not overspending on unnecessary consumer goods.
Money saved can then be invested to make it work for you.
The aim of this is to have the freedom you’d get in retirement, yet at an age when you are much more likely to be able to make the most of it, and for much longer!
I’m not going to take a deep dive into this here, but just plant a seed of thought for you to ponder. The social system we have in the West, teaches you how to become an employee, but there is more to life, which you can discover later.
Maximize your potential
If you are determined to get ahead, possibly with the intention of joining the F.I.R.E. revolution, consider starting a Side Hustle!
Something that you have control over; a business of your own that you can build in your spare time, giving an independent income. This means you’ll always have a safety net, should your employed status change through no fault of your own.
Given time and commitment, this extra income can help with your financial goals, add to your F.I.R.E. fund, or even replace your employment income.
There are so many ways a Side Hustle can be achieved, and a great place to learn about these, is by listening to a good podcast on the subject. Here’s one that I listen to, and can highly recommend.
This podcast gives lots of informative ideas, on a whole variety of ingenious real-world ways people have actually made extra, alongside their “normal” job. Each one, being a featured example of a Side Hustle someone has started, how it worked out for them, and what they are earning from it.
They are produced in 10 minute episodes, which can easily be consumed when out for a walk, on the treadmill down the gym, doing the chores etc. So very convenient!
This Is What I Did
Having started off with a 4-year apprenticeship, I was a lot less informed in those days. I was not aware of these alternative ways of living and working, until much later on.
When I did discover self-help, entrepreneurial books, and books by great thinkers of our time, I resolved that one day I would be in a position to retire early.
1 Crazy Way To Achieve More!
To round this all up, with an opportunity to do an apprenticeship you have a great starting point. Study well and take advantage of the experience offered. By doing this you should be in a more stable place, financially. Far better than in any old “dead-end” job that has no future.
This, however, could also be just the start of something much greater than the apprentice minimum wage 2021!
In this fast changing world, I believe nothing is “a given”. Everyone should have a Plan B.
If you are of the opinion that you are after something better than just trading time for money, Here is that 1 crazy way to achieve more!
I wish you good luck with all you decide to do in the future.
Let me know how you got on, in the comments below. I love a good success story!
Wishing you much success……….
From The Desk Of THE INFINITE AFFILIATE
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