How much can you save?

colsten · 22 September 2014 at 10:19AM

psionicman2000 wrote: »

it doesn't actually work cos you can't lay a single team, only back them so what good is that?

That is all not true. But you should be asking your MB question on the MB board, not on the savings board.

tara747 · 26 September 2014 at 2:17PM

September update. Finally it's payday!!!!!!!!!!!! I'm getting more motivated each and every month.

I saved £1,200 this month, which makes my 2014 total (so far) £8,170 and my overall total £82,295. I'm so chuffed :beer:

xmillyx · 26 September 2014 at 9:50PM

xmillyx wrote: »

End of month total.... £29,445.29 an increase of £523.26 over the past few weeks.

Only £554.71 till my 30k target

Total deposit: £30,664.65 that's a huge £1,219.40 this month!!!!! Over the moon as we've smashed our £30k target. Next target is £35k so £4,335.35 to go.

Though we may have found somewhere... Keep your fingers crossed for us!!!

tara747 · 29 September 2014 at 2:31PM

Yay, well done on breaking £30k xmillyx!!!

juststuff123 · 3 October 2014 at 11:03AM

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

I have just reached my 20k savings goal, and had planned to start funneling new savings into my mortgage, but chickened out at the last miniute and opened two new Tesco 3% (Pre tax) current accounts so I can save a further £6000 before I start hammering down the mortgage.

Doshwaster · 3 October 2014 at 12:47PM

juststuff123 wrote: »

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

I can remember feeling very queasy when I signed the bankers draft to pay my £40,000 deposit. I was spending my life savings. I had to go to the pub for a pint.

Then I realised that I wasn't really "spending" it put transferring the money from an account which has making about 1-2% a year into equity in a property which should grow at more than that over the long term.

Once you buy a house and clear out your savings your main financial priority should be building up your "rainy day" buffer to a minimum of 3 months income. When you have done that you can then consider overpaying the mortgage to pay it off earlier.

Rob_192 · 3 October 2014 at 1:34PM

juststuff123 wrote: »

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

I have just reached my 20k savings goal, and had planned to start funneling new savings into my mortgage, but chickened out at the last miniute and opened two new Tesco 3% (Pre tax) current accounts so I can save a further £6000 before I start hammering down the mortgage.

On a similar basis, 10 years ago, we reached a point where our savings exceeded our outstanding mortgage and we took the step of clearing the mortgage.

It felt very odd 'losing' most of our savings, though in truth we had done no such thing.

It took some getting used to and we felt very bare for a while, almost like we had been robbed.

The feeling was compensated when the Building Society released the deeds and they arrived in the post - we prompty deposited them for safekeeping with our solicitor, who has subsequently managed to lose them!! (but that's another story)

R

tara747 · 3 October 2014 at 2:01PM

juststuff123 wrote: »

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

I have just reached my 20k savings goal, and had planned to start funneling new savings into my mortgage, but chickened out at the last miniute and opened two new Tesco 3% (Pre tax) current accounts so I can save a further £6000 before I start hammering down the mortgage.

I think I'd feel as sick as a dog! :rotfl:

dicky73 · 3 October 2014 at 2:18PM

tara747 wrote: »

I think I'd feel as sick as a dog! :rotfl:

Like someone earlier said "there are no pockets in shrouds".
Enjoy the money while you can. I'd feel as sick as a dog if I had the opportunity to enjoy it taken away from me

.

tara747 · 31 October 2014 at 6:50PM

Payday update from me!

It's been an expensive October

I've only managed to save £263 this month, bringing my 2014-to-date total to £8,423 and my overall total to £82,546.

How much can you save?

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free