I am a 20 year old living in the UK. I've had a look at my monthly incomings/outgoing and have realised I have approx £400-600 (~$600-$900) to spare per month, and that at the minute I'm just squandering it for the most part.
I have a relatively loose grasp on investing (at about the level of an 'Investing for Dummies' book I read a year ago) and I have a foggy idea of what I should be doing with this money short term but I have no idea what to do long term.
Currently I am renting a property with my girlfriend. I also have approx. £6000 in debt in the form of a car loan. I figure my priorities should either be saving the 10% deposit for a mortgage so that I am not pouring my cash into a landlords pocket. I should pay off the car loan & I should save an emergency fund equaling about 3-6 months worth of wages (or living expenses I guess?)
The problem I face is that I have no idea which of these should take precedence, and I have no idea what I should be preparing to do after I achieve these goals. Is there anything else I should be doing short term, or planning long-term?
I guess what I am here looking for is general advice on what people more experienced than myself would do, particularly in prioritising short-term goals and what I should be thinking about long-term.