How much can you save?
Comments
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I need to work out my Savings because my Bankings all over the place an I keep havin to move it around for the best deals I struggle to see how much I've actually saved!
+10000, sometimes I wonder if it's worth the hassle!
In turmoil just now as could get a big salary boost working in Europe - but no longer staying at home means I'd save a lot less despite higher income. Short term savings vs long term income. Undecided...0 -
New money saver here!
I start my first full-time job Monday after recently coming back from travelling around Thailand - first full-time job since post-graduating in December!
The job is only a Summer placement paying £1,000 a month, but since I will still be living at home for the duration of the programme I am planning to save about £600 from it (£1,000 pay a month). The £400 will take account of tax and helping my parents with bills etc. Don't know what day payday is though, so I expect my first pay slip to be minimal.
I fortunately still have my the part-time job I worked at before travelling. Ideally, I am hoping for this to roughly bring in £200 a month, which will all go towards my savings. Next pay day is Monday 2nd!
Not saving for anything in particular until I have a full-time permanent job. By September/ October I hope to save around £2,400, dependent on three paydays each consisting of four-weeks' pay.
Let my money-saving journey begin!0 -
Hello all, congratulations on those beginning their journey today.
Just thought I'd chime in with my 2cs worth. I starting hanging around this site 3 years ago, straight out of post grad with nothing in the way of savings (and a tonne of debt!). Now I'm sitting on about £6k give or take, think it could be up to £7k, in investments and savings, just by diligently putting away X amount (which is a v small amount indeed) a month and never swerving from it, no matter what.
TBH, it has barely affected my life in any way doing so. (and I really like spending money!)
So this is a motivational post for those starting out - stick with it!0 -
Hi Everyone,
I am recently going through a divorce and have now got to stand on my own two feet with financial matters and quite honestly it is daunting. My first payoff so to speak was splitting an endowment policy which has matured.
I am going to need this money to pace myself towards living costs as I don't earn very much.
I am presuming ISA's are the best bet I have received £12,000 as my share I have put £5,600 or whatever it was in a new one that I have started for this year. Can I put some more in another type of one as I read that you can put up to £11,000 a year in ISA's.
Sorry for being so naive about financial matters.
Tips would be gratefully received but please make them in 'layman' terms
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Isme, I am not sure. You should create a thread of your own and people will answer quickly.
My situation is great atm, I am saving really hard. Had £15k in October and now I'm up to £33k. End of year target £40k. Target for when I move out in 4 years at 25 is 75k for a house deposit.0 -
I do not understand0
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Hi All,
My savings haven't been growing as much as i like. I am currently up to £18,000. It's time to take action.
Transfer as much as possible into an ISA each month. I did that this month.
Leave a round quarter of wages for general costs i.e. phone bill, fuel, food, leisure, etc.
My aim by the end of this year is to get to £23k.0 -
Currently at £25k, should be £30k by end of year. Can double that in another two years BUT there's the chance of a job in Germany. Savings would fall a lot but gross earnings would increase upon any return to the UK. It would be nice to have a big deposit for a house but I can't let a pile of bricks rule my life (too expensive right now as is). What will I do, sit in and watch telly all day? No, I think learning the language and having a life experience could be worth it - to hell with staying in Blighty, it's going down the pan, anyway! Hopefully it will become what it once was again. Watch this space.0
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Currently sitting on around £22K in savings and investments, some not reported in the list below as too difficult to get hold of the money as tied into a share club with other members. Aiming to save upwards of £12K PA. Cash in sharesave at the end of 5 years and sit on £100K within a year or two of doing that (based on current share price).
After that I may buy a property, depending on the house prices at the time, or continue to save (to buy outright) or get a mortgage then.0 -
Update after maybe 1yr!
Am 26 and been saving for a few yrs only for a car and part of it for a deposit next yr..
13k in ISA
3k in regular saver
2k in current account
14-15k in shares (am down overal 1k but long term hold)
3k in funds (long term hold i.e. retirement, paying £150 p/m into these currently).
Am saving £900-1.1k per month currently, excess spending on food/teas/taxis/things i dont need but have started cutting back a bit.0
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