Savings Advice

colink24

Hi all,

New to the forum, just wanted a little bit of info on how to go about saving.

Me and my fiancee share a rented accomodation with 2 other people, and have little in the way of outgoings, other than wasting what we earn on rubbish

We both work full time and bring in a reasonable combined salary of £2,816 net per month. We do not save a single penny, usually wasting most of it on clothes, drink, eating out etc. We do have to pay rent, a few bills and insurance but this combined is only around £1000 at the most

I was just wondering the best route to go about saving. We are hoping to buy a new car and eventually get a mortage, but realise we need to start saving some money to do this. We have a car but little in the way of debt. We have a credit card, with about £900 outstanding, though this will be cleared in no time

Many thanks in advance for any advice

Robert_Sterling

£250 per month each into a minicash ISA. Save £6000 per annum. Tax Free Interest.

millsee

Rule 1: Pay Yourself First
Rule 2: Make it automatic (standing order/dd)
Rule 3: Aim for 10% of your gross pay per month. If this is easy after 6 months, up it to 15%, then 20%, etc.
Rule 4: Make the most of your ISA allowance (as above)

Simple!