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  • FIRST POST
    • Zaphiera
    • By Zaphiera 7th Oct 17, 3:31 PM
    • 32Posts
    • 24Thanks
    Zaphiera
    Saving for my future everything
    • #1
    • 7th Oct 17, 3:31 PM
    Saving for my future everything 7th Oct 17 at 3:31 PM
    As per my title I'm here to save. Im relatively young at age 20 however I've come to a steep realisation of the past year that I need to change my habits if I have any chance of saving for my dream of having a house deposit
    I work within the financial industry for a very well known and probably well used bank within the forum. Working with customerís day in and day out I have seen what life is like when people get into debt and the destruction it causes to individuals and as a result, debt has become my biggest fear.
    With that being said I have just gotten myself into a good position. I got into the habit of living off credit cards and was drowning myself in working excessive hours to try and make sure they were cleared month by month, leaving me then with no funds. I am officially credit card free as off September 2017
    I also have another huge expenditure in the form of a horse I took a repayment plan to afford to buy my horse, Zaphiera (as per my screen name) in 2016 and I have been paying monthly since, until August 2017 for the grand total of £3200.00. I have also been fortunate enough to have moved my horse to a much cheaper area literally this weekend and have slashed my monthly bill from £350.00 to £152.00 per month however extras always pop up.
    I have struggled so much this year and I finally feel a bit more free. I am to blame for how horrendous this year has been with going on three separate holidays but from the start of the year I had unexpected large bills every other month, starting with my car breaking down on new years with it breaking down a further three occasions.
    I am so fortunate to be living at home being charged a tiny amount of rent and my parents help me as much as possible which I am so grateful for. My goal is to save for a house deposit but not only that I just want something to fall back on. The world is changing everyday and I see it regularly that something happens that you werenít expecting and all of a sudden youíre struggling again. I do not want to have to go through that and I want myself and my partner to have a good future.
    Iím aiming for a deposit by myself of between £25,000.00 to £30,000.00 to include fees and furnishings. My partner has just sold his house and currently lives with me however he is looking to buy a flat until I can afford to put my money with his and save. House prices in my area are hideous and neither me or my OH are on amazing wages so even together we wouldnít be loaned much and for as long as we can both live at my home then the more we can save.
    Out goings via DD and SO;
    Car insurance - £82.97
    Horse insurance - £35.00 (I have recently looked at compare sites and have already cancelled this with the view to take out cover for just £20.00 a month but that wont be until october pay)
    Rent - £100.00
    Horses care - £152.00

    Everything else like food and fuel i budget for general outgoings. I'm trying my hardest to save as much as possible as i've had 0 in savings but now I've completely cleared all debt I had in the past twelve months. Last months pay i managed to save a grand total of £400.00 but i had to dip into that to pay moving fees for the horse which in the long run will help me so much so i dont feel bad about it. My monthly pay fluctuates too much to be able to say exactly how much ill be able to save but my aim if for 1k a month from November onward. In Octobers pay im planning to put away £750.00 which feels so good as ill have a total of £1100.00 saved away is is the most ive ever been able to have!!!!!!

    Wish me luck everyone!
Page 1
    • savingwannabe
    • By savingwannabe 7th Oct 17, 5:53 PM
    • 12,948 Posts
    • 46,507 Thanks
    savingwannabe
    • #2
    • 7th Oct 17, 5:53 PM
    • #2
    • 7th Oct 17, 5:53 PM
    Hello and welcome. I think you must really love your horse as that is a lot of money you are investing in him. I applaud you for having a plan. Well done on saving £400. Good luck and happy savings!
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • O_O
    • By O_O 7th Oct 17, 8:33 PM
    • 3 Posts
    • 2 Thanks
    O_O
    • #3
    • 7th Oct 17, 8:33 PM
    • #3
    • 7th Oct 17, 8:33 PM
    Good luck with your saving!
    I'm also living with my parents and it helps a lot! Saving can be really monotonous so perhaps set yourself some goals like '10% of your target' or something along those lines and treat yourself just so that you don't get bogged down by it all.
    All the best!
    • Zaphiera
    • By Zaphiera 8th Oct 17, 11:03 AM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    • #4
    • 8th Oct 17, 11:03 AM
    • #4
    • 8th Oct 17, 11:03 AM
    As ridiculous as it is because the horse is a small fortune itís something Iíve been doing as a child and I could never part with her unless my financial situation dictates otherwise which at the moment it doesnít. She may just be an animal but she is part of the family, everyone chips in to look after her and she acts as therapy for my not very well sister. I donít go out and I donít spend money on myself so she is my social life, hobby and a purpose for me. I realise that her bill every month was excessive but I feel like Iíve got myself in a good place with her now and she will be staying!

    Thank you! Iím definitely looking at shorter term goals and I love the thought of doing some of the challenges on this forum. I often canít control the money I save so I give it all to my OH who has a savings account open just for me with another bank so itís hard for me to visualise how much I actually save, Iím just taking it month by month.
    • blue_mango
    • By blue_mango 8th Oct 17, 6:30 PM
    • 392 Posts
    • 1,368 Thanks
    blue_mango
    • #5
    • 8th Oct 17, 6:30 PM
    • #5
    • 8th Oct 17, 6:30 PM
    You are very lucky to have such a low rent, take advantage of it and save while you can Good luck xx
    • atrixa
    • By atrixa 8th Oct 17, 6:45 PM
    • 18 Posts
    • 15 Thanks
    atrixa
    • #6
    • 8th Oct 17, 6:45 PM
    • #6
    • 8th Oct 17, 6:45 PM
    It's great to have a plan so early! With low outgoings you should see the numbers climbing very nicely
    I work in Pensions and I'm currently saving for my first house deposit
    • Zaphiera
    • By Zaphiera 8th Oct 17, 8:46 PM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    • #7
    • 8th Oct 17, 8:46 PM
    • #7
    • 8th Oct 17, 8:46 PM
    I am exceptionally lucky to be able to live at home with little rent. My parents got a large sum through inheritance several years ago and the first thing they did was clear there remaining mortgage. There not planning to move from th there family home until both my sister and I leave so they donít seem to be concerned at all with either of us paying to live there because there bills are relatively low when split between us.

    Iíve realised Iíve budgeted very tightly until pay day which isnít for another week and a bit. I have an interview in London on Tuesday (fingers Crossed!!) and I didnít think about spending extra on train fares but hopefully it wonít be too much and well worth it in the end.
    • savingwannabe
    • By savingwannabe 8th Oct 17, 8:48 PM
    • 12,948 Posts
    • 46,507 Thanks
    savingwannabe
    • #8
    • 8th Oct 17, 8:48 PM
    • #8
    • 8th Oct 17, 8:48 PM
    Good luck at interview. Keep up the good work.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Zaphiera
    • By Zaphiera 9th Oct 17, 6:30 PM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    • #9
    • 9th Oct 17, 6:30 PM
    • #9
    • 9th Oct 17, 6:30 PM
    I donít think I should have been in such a rush to get out of my door this morning when an opportunity to have a lay in was there. Iím working late all week but I get conscious that the horsey wants to be out in the field with all her friends, so regardless of the potential to stay in bed, I get up at 6.30am and make sure sheís out nice and early so she can enjoy her day. However Iím now sat at work with another few hours in the evening to go having already turned up two hours early to get some interview preparation and overtime in, craving sugar and caving into the temptations of my guilty pleasuresÖ. Red bull and chocolate.
    Energy drinks in particular have been a hard habit to kick. I used to work in night clubs before my current role where I found the only successful way to stay up until the early hours of the morning were to drink red bull. Unfortunately for me that habit has stuck and even more unfortunately I no longer get the supply for free. Its actually quite expensive as a day to day treat but at least I donít have habits like smoking or drinking alcohol which I can imagine really puts a dent in budgets.
    I have a week until pay day and have to be incredibly tight if Iím going to make it. I have lunches for the rest of the week so that should stop me spending money. I have to pay for the train for the interview tomorrow and Iím concerned at the cost but hopefully wonít be too bad.
    Iím extremely lucky that overtime is available to me at my leisure which is how I managed to clear my debt very quickly. The only issue with this is I have in the past overdone it to the point of making myself sick. I have planned to work a full extra shift on Thursday to match my partners working hours as we are going to view a flat in the evening for him so fingers are crossed that he likes it. I wish I could say I hope he hates it so he can continue to live with me but I know how incredibly selfish that would be. He gets very worried about being a burden on my family living with us no matter how much I assure him he isnít. But this is what he wants so I will support him of course even though i donít know how it will affect him financially. He sold his house for more then what heís looking to buy for so I know he doesnít have to worry about money but he wants to move as a temporary fix as he wants us to buy our house together when I have the money which I feel is going to put pressure on me. But then thatís not necessarily a bad thing I guess.
    Just an hour and a half of work to go!
    • Zaphiera
    • By Zaphiera 10th Oct 17, 5:45 PM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    Note to self, interviews will always go better when you know where youíre actually going 🙄 Everyone, take that as an indication not to ask! To be fair Iím not giving myself enough credit. After the major !!!! up of my gps signal not working on my phone and trying to navigate London via asking workers in local restaurants help with directions, I managed to get there only ten or so minutes late. The actual interview itself was very positive and I would like to think I have a chance of getting it. However after speaking to them directly (its internal to my company) Iím not sure if itís financially the best move to make in my career. It would be a good step however the position is only offered on a temporary 12 month basis with no guarantee of a permanent job even though the potential is there. That coupled with the decrease in pay due to travel I need to consider my next moves carefully. With that being said it was a good experience and I may not even be offered a job, so weíll wait and see!!
    I treated myself with a celebratory gift from Lush, picking up a face mask ready for me to relax in the bath this evening. In total I have saved around 360 this month and payday next Wednesday Iíll be putting in another 800. Novemberís pay Iím hoping to put in my goal of 1k and itís got me really looking forward to do some overtime! Iím planning on doing an extra 10 hours this week in the addition of yesterdays 1 hour and next week I would like to think I can manage a similar amount. I need to do it either way because Christmas is around the corner and Iím yet to buy any presents which is starting to become a concern for me. Both that and my very generous OH has bought me Olympia tickets this year so I also need to book a room for the night to watch an evening performance which should be amazing!
    Luckily because my interview was internal I was given the time off work to attend, however that now means Iím back off to work for the day! Happy Tuesday everyone!
    • savingwannabe
    • By savingwannabe 10th Oct 17, 7:36 PM
    • 12,948 Posts
    • 46,507 Thanks
    savingwannabe
    Well done on making it through the interview, I am sure you performed with aplomb. It's good that you are thinking through the effects on your salary.

    Incredible savings. Mine were non existent this month due to my cut in salary which is why I need my lodger. It's good to think ahead for Christmas too.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Zaphiera
    • By Zaphiera 15th Oct 17, 1:13 PM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    Well I didnít get the job offer which actually makes life easier for me. My interview went really well so Iíve requested feedback and hopefully will be able to take something away from it.
    Iím struggling with having so little amount of money at the moment but I do get paid on Wednesday which I always look forward to. Iím just looking forward to getting some bills out of the way and seeing what my bank balance looks like when for the first time in years I have spare cash. The majority will go to savings of course but itís still a very nice feeling.
    It will be short lived however as although itís only October Iíll be buying a couple of Christmas presents to make sure I donít struggle with my last two pay days before Christmas.
    Back to work tomorrow for a little bit of overtime then back for my scheduled working hours as of Tuesday. Iím planning to do a total of 10 overtime this week to again get a very big (what I consider big Iím sure some definitely do not) paycheque in November. Im planning to use the money for not only Christmas presents but also my Olympia trip which is all very expensive but Iím hoping Iíll be able to try and pay for it comfortably.
    Hope everyoneís had a good weekend!
    • savingwannabe
    • By savingwannabe 15th Oct 17, 4:15 PM
    • 12,948 Posts
    • 46,507 Thanks
    savingwannabe
    It's great that you are planning for Christmas early. I have no money so can't. lol. Everyone's getting a tenner or twenty quid and that's that. lol.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • Zaphiera
    • By Zaphiera 18th Oct 17, 5:03 PM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    Oh my does it feel good to get paid!! And all those overtime hours feel worth it when I see money that i can actually put into savings! This is the first month of proper savings, and more then that its also the most ive ever put into savings. Today i put away 750.00 as planned and I'm back onto my budget of 50.00 a week.
    This is the first month ive been able to pay for the horses keep in full and don't have to think about her financially again. I also set up her new insurance policy and got a months free cover. Its also the first month all my bills have been paid via standing order so when i woke up and looked the balance was almost all disposable income other then DDs that go out tomorrow.
    Ive booked my hotel in London for Oymipa, been a bit cheeky and bought the horse some new showing gear as well as bought myself and C cinema tickets for date night friday. But thats my spending for the month completely done outside of budget and if i keep to budget then i should also be able to put a little bit more into savings at the end of the month.
    Ive realised how truly lucky i am to be able to do all of these things with cash to spare. Getting rid of the cycle of using a credit card has been both challenging and rewarding. I love not feeling like im wasting all my money every month by clearing massive 1k bills but i also have struggled to be without it when im scraping the pennies together the days leading up to pay day.
    The goal now is to continue trying to stick to my budget amount every week which i feel shouldn't be hard but after all the little things add up becomes increasingly difficult. Im seeing a few friends this week so im hoping that plus paying for date night will keep the social aspect of spending at bay for a while so the only things i have to put my weekly money towards will be food and fuel.
    • Zaphiera
    • By Zaphiera 23rd Oct 17, 8:36 AM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    Itís so unbelievably annoying when you write out a massive entry to find it didnít get posted because of connection
    There really isnít much to say at the moment. Iím still working away as much as possible to get as much of an income as possible. Iím planning to do some qualifications to try and get myself in a different career path and that may mean that short term I will have to pay out to start the qualifications and long term if I get another job Iíll be starting at the bottom, which means taking a big pay cut which will probably prevent me from saving. But this is a while off and I may have a year or two still being able to save at my current rate which will be amazing.
    In my lost post I wrote about my savings goals. I mentioned that both my car and my horse cost 3k so Iíve never seen my balance go above that. I think Iíll feel a huge sense of achievement when I can have a balance of 4/5k and my dreams of having a deposit wonít feel so far away.
    I donít give myself enough credit. Iíve been saving for around two months now and have around 1250 in savings which really I should be so proud of. I just canít wait to see that figure grow because itís so realistic for me to accomplish.
    I feel so lucky to be in the position I am but truly am kicking myself that I havenít started this process so much sooner. I just think about all that money I wasted just because I got carried away having a credit card. I cannot wait for payday to see my balance grow even more, it truly is an incredible feeling working towards something.
    • savingwannabe
    • By savingwannabe 23rd Oct 17, 6:57 PM
    • 12,948 Posts
    • 46,507 Thanks
    savingwannabe
    Are you kidding me? You mustn't beat yourself up. I wish I had been so savvy at your age. You have done tremendously well. I wonder how well off you will be at my age? Enormously so I should think. Really well done.
    Happiness Fund (Dec 1st 2017)
    Reminder: I HAVE EVERYTHING I COULD WANT so SAVE!!!!
    • blue_mango
    • By blue_mango 23rd Oct 17, 11:31 PM
    • 392 Posts
    • 1,368 Thanks
    blue_mango
    I also regret not saving more in the past...but it is what it is. Think about all the people who do not have their own property and are too old to get a mortgage - you won't be one of them!
    • Skint yet Again
    • By Skint yet Again 23rd Oct 17, 11:41 PM
    • 3,028 Posts
    • 18,368 Thanks
    Skint yet Again
    I agree with the others you have done so well. I only have £50 a month for entertainment and you soon learn to be creative and use vouchers and deals. Get your friends and family on board too and I'm sure you will all be relieved to be saving money.
    Aims for 2017 -
    1. save as much as possible. spend as little as possible but still have a social life !
    2. no takeaways !
    3. shop once a week - no "top-up" shops - no unnecessary spending !!
    • Kittikins
    • By Kittikins 24th Oct 17, 10:05 AM
    • 4,845 Posts
    • 43,602 Thanks
    Kittikins
    I wish I'd been as organised and focussed as you at the age of 20! Good luck with it
    Sealed tin saving - trying to put everything under £1 in my purse in there each day
    House deposit savings £52,000
    • Zaphiera
    • By Zaphiera 24th Oct 17, 10:25 AM
    • 32 Posts
    • 24 Thanks
    Zaphiera
    Thank you everyone for such kind words. I'm really struggling at home at the moment and am feeling very unwanted. I've never gotten on very well with my dad and although i know i am welcome it sometimes very much doesn't feel like it. I'm sure i will get on with family a lot better when i don't live with them but i feel like that's a long way off and I feel a little bit helpless sometimes.
    I managed to put into savings another 50.00 this morning which is great. Its £200.00 above the initial amount i put into savings this month which is really good but its also the result of C gambling addition which isn't so good. But i figure as long as it is controlled and it also benefits towards our mortgage deposit then whats the harm. The arguments i've had to day and yesterday have actually really motivated me to get saving as much as possible. One of the huge things i spend money on is food and im often in the way trying to food prep at home but theres no reason i cant cut costs. I love soup and in the winter months a tin of heniz for lunch is good and cheap and something i would happily eat any way. I can change my thinking to things like that rather then getting some form of meal deal for lunch that costs £3 a time. That will instantly start saving money and its little things like this that i really need to be thinking about.
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