How much can you save?

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  • rictus123
    rictus123 Posts: 2,560 Forumite
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    notindebt wrote: »
    Hi guys

    New to the forum so thought I'd share my story . I'm in my mid 20s and working full time. I was saving up for a house deposit and managed to save 70.5K. This was before I started playing around with the idea of buying a new car. Two weeks on and I have ended up buying something that has cost me an arm and a leg (personal contract purchase £9k deposit, £190 monthly payments for 36 months + insurance, and final balloon payment of £10K).

    I was just so blinded by the idea of owning something nice that I completely missed the bigger picture. I do love the car and enjoy driving it but ultimately this has been a massive waste once depreciation is taken into account.

    My other half and myself still manage to save roughly £1000-1200 a month which doesn't seem enough anymore.

    So that's basically it. / rant. :)

    Thats really good, if i get serious about my saving now im sure i could achive near this :)
    Work in progress...Update coming July 2012.
  • Castleman
    Castleman Posts: 365 Forumite
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    Reached house deposit savings target! Woohoo. :beer:



    *Vikki* wrote: »
    I don't owe a penny to no-one

    So, in that case, who do you owe a penny to?!
  • focus888
    focus888 Posts: 1,483 Forumite
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    well done on reaching your target castleman, im a big fan of this thread :) very motivating.
  • tara747
    tara747 Posts: 10,238 Forumite
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    Well done Castleman!!!!

    I'm not even sure what my target is, as a % of a house price. I have over 20% of what I would want to borrow, my target just keeps moving to the next £10k. I just want to save AS MUCH AS POSSIBLE towards a deposit and costs, and have as tiny (and short) a mortgage as possible. If I buy with a 50% deposit then happy days.
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs 2/6/17 126lbs
    Save £180,000 by 31 Dec 2020! 2011: £54,342 * 2012: £62,200 * 2013: £74,127 * 2014: £84,839 * 2015: £95,207 * 2016: £109,122 * 2017: £121,733 * 2018: £136,565 * 2019: £161,957 * 2020: £197,685
    eBay sales - £4,559.89 Cashback - £2,309.73
  • dippykitty
    dippykitty Posts: 1,138 Forumite
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    Castleman wrote: »
    Reached house deposit savings target! Woohoo. :beer:


    Well done! :D
    ISA savings: £25,139 Other Savings: £1750 (tied up in bond)
  • Crap_with_money.com
    Crap_with_money.com Posts: 1,142 Forumite
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    Well done Castleman - that's great news!! How long's that taken you?

    Tara - sounds like a good plan, and you'll get there on the food front - don't despair so much!

    Can I just ask a quick questions - how much do you all factor in as "personal spends" in a month? My Microsoft office package arrived, and as sad as it is - I'm so excited about sitting down tonight and working out a shiny new budget spreadsheet for starting uni next week!! ;P

    xx
  • slowlyfading
    slowlyfading Posts: 13,429 Forumite
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    Castleman wrote: »
    Reached house deposit savings target! Woohoo. :beer:

    Wahey :j :j
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
    Personal Finance Blogger + YouTuber / In pursuit of FIRE
  • *Vikki*
    *Vikki* Posts: 1,303 Forumite
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    Castleman wrote: »
    Reached house deposit savings target! Woohoo. :beer:






    So, in that case, who do you owe a penny to?!



    eh? I am confused :o
  • Crap_with_money.com
    Crap_with_money.com Posts: 1,142 Forumite
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    I think the siggie quoted said I don't owe a penny to no-one, which is really a contradiction, it's the same as I saying I do owe a penny to someone - I think that's what they're trying to say anyway! ;)

    xx
  • *Vikki*
    *Vikki* Posts: 1,303 Forumite
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    Crap_with_money.com wrote: »
    I think the siggie quoted said I don't owe a penny to no-one, which is really a contradiction, it's the same as I saying I do owe a penny to someone - I think that's what they're trying to say anyway! ;)

    xx


    lol doh I am a silly billy I always say odd stuff like that! lol
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