Can I save 30k by Christmas 2009???

musclesza

Finally out of debt in that my savings and Investments are equal to what the OH and I owe folks and a mate!!!!

The only thing left to sort is my Barclays spat which could drag on for a while!!! Hoping to make serious inroads there tomorrow and hopefully put it to bed as its starting to get up my nose

Now for xmas presents and festive season spending of which I have 500 to fund to cover my and OH expenses from mid dec to early jan!!!!

Also my CC are now all clear!!

musclesza

Is there no one else out there that wants to have a goal to aim for come 25/12/09?

musclesza

Well its been an interesting week. I have paid 350 to Barclays for all the personal reserve fees and they still didnt take off the reserve fund - not fun

I made 200 on SBE (siber energy) bought at 46 sold around 75p and watched it hit 110 where I could have made a killing!!!

Currently got 600 in the banking pipeline, my CC are nearly maxed out and close to my overdraft....

Will update my position once I have cleared everything on Monday and hopefully my money will be in.

I have got about 1100 coming in from OH for the rest of dec then my salary and bonuses unless the dreader p45 is in my appraisal letter!!! holding thumbs for a bonus would be a great surprise

musclesza

Back in the gloomy UK after an incredible trip back to SA - those that havent been put it on your to do list!!!

Finance wise not much has changed unfortunately. Quite a heavy month over Christmas and the OH didnt get paid for Dec(its what happens when you dont work) so January has been quiet since landing on the mud island

Debt: 650+1900 = 2550

Savings: 1745
Savings for Holidays: 0
Shares 1310(from 1420)
Total 3055

Total 505/20 000

Things are looking more positive and some shares will be bought in about 10 days time once we both get paid - but there is still a long way to go!!!!

Snow_Dog

Hi musclesza,

Not wanting to sound too negative but reading through this thread, what struck me was you sound a little like you want the best of all worlds.

You want a big plasma, you want holidays, tour europe, pay off debt, and save £30K. In my experience money rarely seems to split this many ways.

Like a previous poster pointed out, there are people on the dfw board that are intending to live on £4K per annum in order to pay off debt/build up savings. You sound like you still actually want to live a £50K lifestyle but save lots too.

Sorry if thats not how it is or if you dont like this response but thats how the thread comes across.

amethystcash

We decided to make a conscious effort to start saving summer last year and since then, being aware of what we were spending and saving, we've been saving an average of about 55% of our income each month.

We used the tools on MSE to set monthly budgets, working out how much we should be able to save on our basic salaries and put that into savings as soon as we got paid each month. Any money left at the end of the month also went into savings and any extra income over basic also went into savings.

We did sacrifice a holiday abroad to build up the savings but seeing the current balance of our savings now it was definitely worth it.

I would check out the budget calculator and the demotivator. Set yourself budget and savings goals and keep in mind the bigger picture. Also look to make savings on your household expenses also using the valuable tools on MSE.

PS My own savings goal is to have £250k in savings - at current rate of savings we have 42 months to go to achieve this.

PPS Stuff isn't that important, life experiences and securing your family and future are.

musclesza

Snow_Dog wrote: »

Hi musclesza,

Not wanting to sound too negative but reading through this thread, what struck me was you sound a little like you want the best of all worlds.

You want a big plasma, you want holidays, tour europe, pay off debt, and save £30K. In my experience money rarely seems to split this many ways.

Like a previous poster pointed out, there are people on the dfw board that are intending to live on £4K per annum in order to pay off debt/build up savings. You sound like you still actually want to live a £50K lifestyle but save lots too.

Sorry if thats not how it is or if you dont like this response but thats how the thread comes across.

Its fair comment snow dog
Not quite on 50k combined but fairly close

Regarding people living off 4k a year - my hat goes off to them and while its off I have to scratch my head as I am flipping confused. How the hell do you live off 4k???

Our rent is 10k on its own and my OH works about 40miles away from home so no chance she will bike it to save costs!! So after rent and a years transport our costs are roughly 16k

Looking to save 20k which would be 40% (if you call it 50k) of our income and 60% after transport and rent

musclesza

amethystcash wrote: »

PS My own savings goal is to have £250k in savings - at current rate of savings we have 42 months to go to achieve this.

PPS Stuff isn't that important, life experiences and securing your family and future are.

Nice one on the savings mate - that really impressive

Life is lived once I agree and this is why I would love a big tv so when I am not working I can enjoy my time away

Good luck on your target

tara747

A big TV is hardly 'living life to the full' though is it...

musclesza

tara747 wrote: »

A big TV is hardly 'living life to the full' though is it...

Depends what you want out of life :P

The Tv would cost no more than £500 and I get unlimited amount of pleasure on watching sport on the weekends (not football)

I have been inn the UK for nearly 2 years and my trip to SA in Dec was my first long holiday of 2 weeks.

I am not getting the tv until we are completely out of debt so it is a moot point at the moment!!

Looking forward to seeing how much we can save come end of Feb