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# 6361
Lethal Brizzle
Old 26-08-2012, 11:43 AM
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Join Date: Aug 2012
Posts: 15
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Thanks Innovate - amazing advice. I did look into the Halifax & First Direct accounts a month ago but I don't meet their T&C's. I have had another look into the drip feeding method but I honestly don't think I understand it enough (the tool on the link says I'll be about £20 better off but I'm not sure if I did it correctly) so I am probably best off staying simple with the ISA which is currently at 3.10%.

And thanks Quin & Tinker for your words of encouragement. You are all very supportive! I think I will create a savings target signature to help with my motivation.
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# 6362
innovate
Old 26-08-2012, 1:19 PM
PPR
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Join Date: Jun 2005
Location: On this planet
Posts: 15,720
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Quote:
Originally Posted by Lethal Brizzle View Post
Thanks Innovate - amazing advice. I did look into the Halifax & First Direct accounts a month ago but I don't meet their T&C's.
That's a crying shame - - - you, with no debts and money to save, don't qualify, who will?
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# 6363
Kutierezharyi
Old 27-08-2012, 7:45 AM
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Join Date: Aug 2012
Location: new york
Posts: 6
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Quote:
Originally Posted by Leahcim1985 View Post
Set up a direct debit to take savings out of your account and into a savings account on payday.

If the money's already gone then you can't spend it. Waiting to see what's left over at the end of every month is the best way to have no savings because nothing is ever, ever left over, no matter how much you earn.

Best tip anyone ever told me when I started saving.
Thanks.. Now I am going to follow your tip from today hope as it worked for you It mighty work for me and I might be able to save money for any crucial time...
.
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# 6364
quintwins
Old 27-08-2012, 3:10 PM
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Join Date: Mar 2010
Posts: 4,760
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Quote:
Originally Posted by tinkerbel View Post
Quintwins is the £30,000 just a stage or is it the whole target?
Well that was our building site target however we've seen serval on property sites for £20k lately and still coming down, however we've also been keeping an eye on auctions and have seen loads for £5k-£8k so in a few months time we might start going to property auctions to see if we can pick any up cheap.We had considered buy farm land and taking a chance with planning but we no longer have to do that as the prices above apply to sites with at the very least outline planning premission.Ofcourse while we look for a plot we'll still be adding to our savings.

Once we have a plot we will be savings up £5k emergency fund, and then we will start to do a little building every month rather than savings.
Saving for a house £9407 (+6550 owed from friend and £3500 owed from inlaws) Total £19,257

Save £1300 in October £0/£1300
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# 6365
nat21luv
Old 29-08-2012, 11:11 AM
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Join Date: Aug 2010
Posts: 2,974
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Think I was a bit premature on my end of month update so here's a real one at the actual end of month!

£3282/ £4000

Hoping to get the extra £718 this month with students/ ebay and car boots
£5k in 2014 #168 £2911 58.22% Sealed Pot Member 1223 £40 30bs/100lbs (26.01.14)Make £10 a day=253.43/1674.33(14.07.14) 2013=6681.66 Sell 100 items=71/100 £720.13 NSD '14=49 2013=111 Grocery Spend '14=805.89 (01.07.14)

**MONEY MAKES ME HAPPY**
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# 6366
kimidezzer
Old 31-08-2012, 9:59 PM
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Join Date: Mar 2012
Posts: 7
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I have a Hargreaves Lansdown Fund and share account with about £10,000 in assorted stocks. They are all dividend paying stocks and I have the dividends payed directly in to my cash ISA account. Would I be better off with a Stocks and Shares ISA or some other way of managing shares? And am I in danger of breeching the tax code once the value of my stock goes above a certain amount?
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# 6367
requisiteclothing143
Old 01-09-2012, 10:09 AM
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Join Date: Sep 2012
Posts: 1
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Our calculator will show you just how much money you could be saving and what you could be spending it on. How much can you put towards your mortgage or savings when you really put your mind to it? With a good savings plan and some discipline, you'll soon have the deposit for your home sweet home.
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# 6368
Supercharge_Me
Old 03-09-2012, 6:50 PM
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Join Date: Sep 2007
Posts: 225
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Quote:
Originally Posted by Supercharge_Me View Post
Hi All,

Im 24 in the South East, Been a while since i last posted on here but i wanted to share my savings so far and it gives me something to look back on when i spend it eventually! Each year for the last 4 ive managed to put away my ISA allowance and ive just generally saved in between, ive also just sold my car.

ISA: £16000
Savings: £19300
Total: £35300

Im aiming for £40k by the end of the year, which will likely be the deposit on a house, then i aim to start saving another lump - perhaps £10k for fees/furnishings/emergencies.
Wow two years ago and still havent bought a place but recently starting looking so might have to spend it

ISA: £28,350
Savings: £31,750
Total: £60,100
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# 6369
Zars
Old 04-09-2012, 9:11 PM
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Join Date: May 2012
Posts: 22
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Wow that is really impressive Supercharge.. Keep up the good work.!! Any tips you can share that helped you along the way?
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# 6370
Lethal Brizzle
Old 04-09-2012, 10:24 PM
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Join Date: Aug 2012
Posts: 15
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That is a staggering amount Supercharge and so impressive for your age - well done! I must admit my target is just so I can go into a bank and talk to them about the potential of a future mortgage without them laughing me out. Realistically I need £30k. It got me quite down at first as that is like monopoly money to me.

However, I have just seen a thread on the debt free wanabees board that has got me motivated again. Don't you just love this site! It involves the target amount being divided by 100 with your goal being hitting each percent by whatever money making means you prefer. So in my case I am continuing with saving £500 per month which will hopefully give me £10k by the end of next year. In addition to this my target is to make £200 x 100 (to raise the extra £20k). Which I find less of an impossible task - well mentally anyway! Just need to make the money now........

The original thread was called "Starting Again, 1% at a time, 100 ways to make £80" I cant post the link being a newby
Saving for a Deposit of a Deposit £5,000/£10,000
'Life stuff' that needs paying for before I can start saving again £750/3100
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# 6371
Only a ginger
Old 07-09-2012, 10:01 PM
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Join Date: Jun 2012
Posts: 49
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A tiny bit related, and I just wanna share what I think is pretty good going...

I have an old sweet jar that I drop coins in every now and then, and I've got £120 in there!

I'm staggered it's that much....I'm gonna be frivolous with it though ( not very mse, but oh we'll!)
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# 6372
tinkerbel
Old 08-09-2012, 10:57 PM
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Join Date: Jan 2008
Posts: 1,727
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got to agree with this! we collect all of our change (coppers 5ps and larger when you end up with a fist full of change! the interest youre missing out on is minimal and it means I dont nip to the vending machine etc at work and waste it!)
We spent it frivously (we had about the same amount about £117 that we could actually bank in those bags)! and put it towards a treat we wanted for ages! probably would have been better to bank it but hey! you have to treat yourself and we bought something which will last so thats good it is amazing how it adds up though!
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# 6373
MoneyHungry
Old 13-09-2012, 12:59 PM
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Join Date: Sep 2012
Posts: 43
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Newbie here, some info about me.
I'm 19 and take home roughly about 1600 a month.
My outgoings

Rent -120
Phone bill - 65
Car insurance -165

Which leaves me with 1250 a month. My fuel ranges from 200-300, and spending money the same I suppose.

I have 2 savings accounts, a isa and a regular saver both from nationwide. My plan is to max the regular saver out every month with the 250 and what ever is left over into the isa.

Currently isa has 3000 and regular saver 400.
My aim is to have 6000 in savings at the end of this tear, and try to be as close to 20000 by the time I'm 21. Big big big ask, but if I can keep my debit card spending down, I may well do it, bring on the challenge!
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# 6374
nicolula87
Old 13-09-2012, 1:33 PM
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Join Date: Mar 2012
Location: Lincolnshire
Posts: 190
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I have a tin at home (one that you can't open) and whenever I get £2 coins I put them in it - well most of the time anyway! I've even got my boyfriend doing it as well. Not sure how much is in there but it's getting quite heavy now! It is the start of my "Rio Fund". I really want to go on holiday to Rio de Janeiro but it is looking like it will be very expensive!
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# 6375
Pocketsaver
Old 16-09-2012, 4:25 PM
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Join Date: Dec 2010
Posts: 81
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Quote:
Originally Posted by Pocketsaver View Post
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!
Been a while since my last update.
I am still with the job I started back in June and getting £300-£400 more a month than expected (although for how much longer looks unlikely as work is running out). To date, I have saved £4,800. This would be £5,800, but I have decided to do a once in a lifetime event and participate in an event called the Marathon Des Sables in 2014 for my 25th! It is going to cost £4,000 () altogether, but I figured some things you just can't put money on. Oh well, next payday is Thursday and I cannot wait!
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# 6376
YoungBusinessman
Old 16-09-2012, 5:06 PM
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Join Date: Apr 2012
Posts: 1,026
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Going good guns there Pocketsaver. How do you get to a £4,000 total? Seems double what i thought you were away to say....Is that including loss of earnings?
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# 6377
DireEmblem
Old 16-09-2012, 8:21 PM
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Join Date: Jun 2007
Posts: 252
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I've just done what I consider to be a slightly odd thing.

I do have some savings, and I save a set amount each month, but I have started to review my spending a bit more, and over the past year the volume of cash I have spent, although sometimes hard to track, as I've merely taken cash out a hole in the wall, when I break it down, I think I could save so much more without having to change my lifestyle too much.

For example, I looked up on listentotaxman.com what I earn, and what I would earn each month IF on minimum wage. Now the odd thing is, I worked out even with my current rent etc, I could still actually 'live' on minimum wage, and still manage to go out to the pub a couple of nights, albeit I would need to be more stringent to what I chose to drink, or where.

Also, looking at all I spend my dosh on, most bear no long term benefit once the year has gone - do you really remember the pizza you had on the way home from a night out - probably not, so why not just have something to eat at home?

This is just my 2p, bit of a rant, but going forth I will be saving more!

Oh, and in the tradition of this thread, I currently save around 10% of my salary.

Last edited by DireEmblem; 16-09-2012 at 8:34 PM.
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# 6378
YoungBusinessman
Old 17-09-2012, 8:48 PM
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Join Date: Apr 2012
Posts: 1,026
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Dire that sounds alot like my attitude is getting to, wasting money on take aways etc when i could be reinvesting that money to give myself greater income. Good points well made.
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# 6379
Lethal Brizzle
Old 22-09-2012, 8:38 PM
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Join Date: Aug 2012
Posts: 15
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I do the same Dire. I pretend to myself that I earn minimum wage and live to those means. I save 35% of my take home pay.
Saving for a Deposit of a Deposit £5,000/£10,000
'Life stuff' that needs paying for before I can start saving again £750/3100
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# 6380
jasperwilliams30
Old 23-09-2012, 10:15 AM
MoneySaving Newbie
 
Join Date: Sep 2012
Posts: 2
Default What are my best options for my savings

Hi there

Im new to the forum and wanted some help.

From next month i will be saving £1500 per month and wanted to know whats best to do with it.

At present all that i have in terms of savings is my ISA for 2011-2012 and 2012-2013 which are both full.

im 30 years old and have just paid off all my debts from my student days and want to make the £1500 per month work for me.

my long term goal is to build up enough capital to buy a buy to let property but this will take 2 to 3 years so thats the period im looking to hold this money in savings.

Any help would be appreciated.

Regards

Jasper
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