How do you do it?

bizzy_izzy

Maybe enjoy is not the right word, but i find this forum very interesting, you all seem to have good ideas and give good advice, myself and my hubby both work full time, but we are on a low wage we don't have a lot of debt, But we can not manage to save money at all, we can save for things like xmas, small things for house etc, but i never been able to put money aside and never never touch it, how do you do it :eek:

Gemmzie

I think the trick is a solid budget, so many people can save money or are entitled to more - that's quick easy money!
As for the saving, I think it's the enjoyment of other people encouraging you onto save and making a challenge of it.

~Beanie~

A budget is definately the way to go. I am definately a spender and always have been, I have recently reached thr grand old age of 40 without a penny in savings to my name. :rolleyes:

A few months ago I joined this site and did a proper budget. Now I have savings in a 'pot' for things like clothes, car expenses etc and also have been saving £25 per week from my part-time job. I have a paper bill that I need to pay and also it would help to reduce my debts more but I just can't bring myself to touch my little pot of money!!

That is so unlike me, usually if I had a spare tenner I would be thinking of things I could spend it on

Jenna

Hey,

I don't have any savings right now as I'm focusing on paying off debts, but normally, I had savings in a separate account than my main one. It was one with a cash point card only (e.g. not a debit card) and I cleverly remembered to forget the PIN number which prevented me from pilfering the account!

But the thing with savings is - it's no good to just "save for a rainy day" (or I don't think it is anyway) - it's got to be something you really care about. So for example saving for a deposit on your first home, saving up for a car, saving for your dream holiday etc ... and then suppose you want to save £30 a month, then put say £10 towards rainy day / emergency fund but then put £20 towards your main target. Keep a record too, the numbers going up will encourage you, it's surprising how quickly it all mounts up!

bizzy_izzy

Thanks for that, as you say i think it will help seeing/reading what other people do, as i said i am not to bad about saving towards something as you say jenna, but i just can't leave it alone!!!
Grand old age 40, i am over 50yrs, and all i have is a big morgage to pay and mine and hubbys pension, still i think i will learn a lot from all you mse's

Billy_two_speakers

bizzy_izzy wrote: »

Maybe enjoy is not the right word, but i find this forum very interesting, you all seem to have good ideas and give good advice, myself and my hubby both work full time, but we are on a low wage we don't have a lot of debt, But we can not manage to save money at all, we can save for things like xmas, small things for house etc, but i never been able to put money aside and never never touch it, how do you do it :eek:

The best way to save for xmas or birthdays or something special is to treat it as another bill and build in a budget for it.

the cost for xmas and birthdays is easy spread the costs over 12 months and if you treat money aside for them items, like the rent or gas bill you cant :rolleyes: go wrong

Deep_In_Debt

As others have said - budget, budget, budget! And live within your means. Get rid of expensive credit cards. I live on a budget each week so I literally withdraw the cash I need for the week and leave my card at home so I can't be tempted to spend any more than I need. I try and squirrel a little away in a savings account, sometimes it's only a tenner each month but every little helps, for emergencies.

Penny2myName

I have started with an account where I have £1 go each day. To get money out of the account is a lot of messing around, and an 8 day wait for it to go from savings account with an on-line bank, into my main bank account. Used that last few months of savings up for when we went on holiday. It has just started again, and cant find where I put my account number to be able to check it at the moment. Which is good as means when i do find it it will be a nice surprise sum of money.

cady

ive just joined the sealed pot challenged where i save all my silver in a sealed tin for a year and open in next dec ..... what i cant see i cant spend!!

chalky_75

Keep away from the shops-- you never need anything til you walk in the doors---- and apparently we only wear 20% of the things in our wardrobe !!

milliejon

When I'm in the position to save, I'll be giving my money to my mum in law. She'll guard it and I'll have to put a very good case to her for its release!