Starting to Save! - Newbie.

Cinny91

Thats good going Villafan! I'd never have the guts to go to a bank like that, even if I have to ring up about a problem I beg my mum to ring up and put a less mature voice on.

Veromoda is a brand at republic, some very pretty stuff! have managed to not touch a penny from my bank account, got £3 in my wallet after a sweetie buying trip to asda abit ago. Got to fill my vespa up tomorrow so that should soak my pounds up. Need some new facial wash but i'm getting it from boots so I can pay with my points (Got about £16 on there now.)

angelatgraceland

Cinny-wht don't you set up a savings account by direct debit. Save say £30 per week to come out of your bank just after payday and put into a regular savings account of some sort. when you do this you wont find it so easy to spend! If you are worried about not having any money just start off saving £10 per week and any other money left put "in the pot". When you are used to this, increase it to £15 or £20 and so forth. You get used to spending whatever amount you have available whether its £20 or £200. This is how Ive accumulated savings and if you did £20 pw it would indeed be over £1000 in a year. Dont just dream about it though-get to a bank and set it up.

tinkerbel

sounds like a good idea with the regular saver, I would do that but I don't really have an income lol. i could do it with my student loan and see if I miss it.. hmm you guys have got me thinking!

Cinny91

angelatgraceland wrote: »

This is how Ive accumulated savings and if you did £20 pw it would indeed be over £1000 in a year. Dont just dream about it though-get to a bank and set it up.

Thanks angelatgraceland. I'm wavering on doing it as I have two minds about me right now, one knowing it's best to save and put money away for a rainy day no matter how young or old then there is the other who seems to resemble my sister thinking why have money if I'm not going to spend it? It's very hard finding the balance between the two. Plus there is the fact I'm very lazy and unless I have someone to actually drag me down to the bank I will carry on putting it off and off.


I have just under £195 in my bank now, taken £10 out for the hairdressers on wednesday. I got my facial stuff, on offer at boots 2 for £5 so I paid with points, spent £1 something in home bargains on drinks and toothpaste. Put the change in Franks and mines money pot. Which we counted and have just over £30 :T not bad for 3 weeks worth of change.

dazcouz

Hi Cinny91,

I find your post on saving money fascinating. I have always had the money-saver mentality when I was younger and remember when I was 12 I had saved up my first £100 and I thought I must be a millionaire!! I managed to save up my first £1000 when I was 16 and am currently trying to save up for a deposit on a house. To be honest, I think I have the right mindset to save up, I do thinks like set a budget for my weekly food shopping like buying reduced food and putting it in the freezer, by BOGOF offers etc. I also have to pay £40 week rent to live at my mother home (I'm 21!) but I also like to treat myself as well (albeit by not spending too much cash!). I always remember to play one line on the lottery and will treat myself to the odd DVD, game etc.

However in the past I have had a bit of a gambling problem, I have made reckless impulse decisions that have cost me dearly. I reckon I have lost overall £10,000 over 2 years because of gambling. However, I am treating this as one of lifes lessons and vow to never bet/gamble again.

Anyway as I said I find your posts fascinating and I can relate to it as I'm trying to save up for a deposit for a house:rotfl:

Doom_and_Gloom

Heya Cinny91

I think you are doing really well. I can not believe you pay just £10 board though. I pay £30/week to my parents as does my fiance who lives here also :rotfl: . We have a really good deal as we have our bedroom and ensuite shower, a living room all to ourselves, a share of the kitchen, conservitory, a bit of the garden that I grow food with aswell as most places my parents use except their bedroom :rotfl: not allowed in there and would not go in there.

Like dazcouz I'm saving for a deposit on a house however I'm also saving for a wedding :eek: . I'm 19 so not much older than you Cinny91. I work about the same as you do though. I only earn about £600 a month after tax . Thankfully I can live on only £200 a month really easy :rotfl: .

Cinny91 I think you are doing really well with what you have. I assume your board doesn't include food from what you have written. Make an effort to buy food when it is reduced. You can if your lucky buy most if not all your food for a week like this. Buying reduced produce and freezing it for later can be very benifitial for you. Just keep up with what you are doing and I'm sure you can save the money that you want to .

Cinny91

thanks for your views dazcouz and doom and gloom! I feel quite lucky only having to pay £10 board now. That's my food included, but at weekends we all feed ourselves. (me my elder borther and sister, although my brother pays £40) I bake a fair bit too, buying all the ingredients myself, so I think that's why I pay so little. Plus if I'm making all the cakes ect it's one less thing my mum has to buy during the big shop.

My mum is taking the puppy (trevor) to the vets later on today so I'm going to hitch the ride into town then nip off to the bank to open a savings account. hopefully.

villafan10

have you made sure you know which account to open? there's lots of different ones and you don't want to get screwed over... You could earn lots more with a good account than with a poor one. It's worth making the effort. What sort of account are you looking for?

Cinny91

I just want an account that I can access by card, I'm not bothered too much about high interest as long as it makes alittle money. I just want it in another account where I can't spend it really! I'm going with Abbey because I'm with them already. Looking mainly at the eSaver which seems to have everything i want, with 5.20% AER.

Cinny91

I did it! :j

Decided to ring up in the end, over making my dinner. The account is open but just needs to be verified then I'll have £100 transfered into it then I can properly start saving. Quite chuffed I did it now! Just got to ring Frank to let him know.