to save as much money and keep my life as organized as possible

TimBear

Thanks Unlucky, I'll get there eventually! I have budgeted to save just under £1,000 on June pay day at the end of the month which will take me over the £3k Mark so that will help me get back on track!!

Jennie-1987

Hi All!

Well I have managed to save £500 over the last 5 months but that has meant Ive spent longer in my overdraft - which I see as a reasonable sacrifice when its free. And at the next payday I will be out of the OD with the ability to save probably £200-£300 instead of £100 this month. The big thing is a 5 day holiday next week and little expenses that add up on Annual Leave like this week so Im being cautious with my calculations.

Im also being more weary of spending because I am still on probabtion at my new job and although last week, pre-Annual Leave, I have majorly boosted my actions to above expectations I dont know what will happen when I go back because you do need time to readjust sometimes and i cant really afford that. Its harder in this economy i guess and you just dont feel as secure in your job even if you are progressing and its all finally clicked in place.

Wow TimBear I bet you cant wait for this payday either, well done!

TimBear

No I can't wait! Fingers crossed that everything goes to plan with my budget so that I can save that much.

Try not to worry about your job, sounds like you're doing all you can and more!

Jennie-1987

Well job-money related post. I have an interview on Wednesday morning for a job that, although it hasnt been confirmed for certain, is about £2k more annually so still not that good because Im paid pretty poorly atm but its at the same company and similar so something I know I can do. Im not sure it has much of a future though and there are others from my department interviewing and one who has both been at the job longer than myself and is already doing something in between mine and the new job.

The thing is that I really want a long-term progressive job. I really want an accountancy or merchandising traineeship, which the first my company do offer but Ive been told that they dont come up much and the entry route is difficult (its not just an advert by HR). Ive applied for a couple, one of which I have been unsuccessful in even getting an interview and the other is only a 6 month contract and not really the same but still an amazing job.

Im just stuck because I didnt finish university - though do have a HND with finance and statistic modules at 2:1 level - and its tough to get entry finance admin roles as they already want experience. So I dont even think Im elligible for a proper traineeship even though I have lots of office experience and know this is what I want whereas graduates who dont have that or know that, get the opportunity just by writing degree on their CV. It looks like my only option would be to go the college-AAT route which is like 3 years before doing the 3 year big traineeship and whilst that might be fine because time isnt everything, the way to do this would be an Apprenticeship and having looked for a while an example of one I like would be time-consuming and only £150 per week. Petrol would be around £120-£150 a month, National Insurance, Car Insurance (£38 a month), Car Tax, MOT, Service, Mobile (like £5 a month), Birthdays, Dental Plan, Gym (£28 a month), Socialising (£50 a month not excessive), Accountancy clothes (they are more professional than others), etc. And for that level (2 of 4) its like 12-18 months on that wage! Its not doable is it? I havent even included savings or more importantly housekeeping for my parents - Ive already spent years at home while at University and only paid this when working full-time so it would greatly affect me mentally not to pay let alone for so long. Plus obviously Im living with the parents and ideally at some point (probably in the next 3-6 years lol) would want to either move out renting or save enough to buy my own place.

Sooooo thats my thing. Its not that I dont want the interview on Weds to go well and to get the job its just having 'failed' at Uni for reasons out of my control and realising oh thats a job that I would enjoy with a real future and money prospects, I would like to jump into it and start my years of training asap like anyone would. And then if I get the job at my company its not like I can go on interviews for these other jobs is it? so do i stop applying for a while as well?

Jennie-1987

Please see signature.

I have had two interviews for two jobs in the last few months but nothing happened - one rejected me for the reasons I specifically met with the manager to discuss before applying.

Now Ive kind of been head hunted for a different job in another company and it seems a step up; with the progressional schemes looking great (though my current place looked promising as well until I started and they are certainly in their infancy). Who knows whatll happen to my finances but Im working lots of overtime at the moment to try to bank as much as poss while its there because it does keep disappearing.

Hope everyone else is doing well what with Christmas now starting to be pushed at us.

TimBear

Good luck Jennie!

I'm almost sorted already for Christmas presents - I've been super organised this year! So I won't be stretched at Christmas which is good.

I'm annoyed because I haven't saved as much as I should have done based on the amount of money I put away each month - life seems to get in the way! Deposit on a new rental property, and paying for a holiday etc.

However, I've now set up separate accounts - one for my house fund (to purchase a house and this I NEVER touch), one for presents throughout the year, one for holidays we have booked for next year etc. So now I allocate a certain amount each month into each account so I know how much I have to spend in each and don't mind dipping in when I need to.

Going to up my savings' target to £10k for 2012 - I WILL do it! I know I slack off a lot, so will try really hard next year.

Jennie-1987

TimBear wrote: »

Good luck Jennie!

I'm almost sorted already for Christmas presents - I've been super organised this year! So I won't be stretched at Christmas which is good.

Thanks Wow that is super organised like I dont even know how I would do that. I have got 2 Christmas cards but thats neither here nor there. Surely your family/friends must also be pretty organised to already know what they want?

TimBear wrote: »

I'm annoyed because I haven't saved as much as I should have done based on the amount of money I put away each month - life seems to get in the way! Deposit on a new rental property, and paying for a holiday etc.

However, I've now set up separate accounts - one for my house fund (to purchase a house and this I NEVER touch), one for presents throughout the year, one for holidays we have booked for next year etc. So now I allocate a certain amount each month into each account so I know how much I have to spend in each and don't mind dipping in when I need to.

So its just lots of current accounts with the same bank? I think this is something that would really help me because im thinking like if I put away £40 a month it should cover any forseeable car maintenance and £25 for Christmas/Birthdays etc. Its just something I thought I couldnt do like its better for me but the bank only allows so much? definitely no idea other than with student accounts they explicitly advise you can only have one.

TimBear wrote: »

Going to up my savings' target to £10k for 2012 - I WILL do it! I know I slack off a lot, so will try really hard next year.

Wow that is a big goal, Im sure youll do it because you know how happy youll be when you reach it. Is that for one pot or in total?

TimBear

To be honest I haven't asked them what they want but hopefully I will have got it right!

I'm with Santander and using my online banking I can apply for eSaver accounts, I have about five now, as well as my ISA. I use my ISA as my long term house deposit saving account.

My £10k total will be overall, to include all my savings' pots. I will have to be good but I know I can do it if I knuckle down and perservere!

Have you any thoughts on your goals for 2012? X

Jennie-1987

TimBear wrote: »

To be honest I haven't asked them what they want but hopefully I will have got it right!

I'm with Santander and using my online banking I can apply for eSaver accounts, I have about five now, as well as my ISA. I use my ISA as my long term house deposit saving account.

My £10k total will be overall, to include all my savings' pots. I will have to be good but I know I can do it if I knuckle down and perservere!

Have you any thoughts on your goals for 2012? X

Oh okay so eSavers, I have my eISA and grad account with Natwest so Ill have to see what else I can do.

Im planning to up my house-keeping to the parents, potentially this month, so I think overall I can save £3000-£3500 in 2012. It isnt that much but it is a quarter of my gross salary so like a third of my net which is more than most peoples savings : salary ratio. Plus itll be around double what I will have saved this year.

However, I am going to feel like Im starting from scratch as this year's savings truely will be gone - Im saving for a holiday for my sister's 30th and it looks way more expensive than any holiday Ive taken before so estimating £700 to be on the conservative side. I know I already have more than that but Im also trying to save enough to pay for my mum's hol and if I can some towards my sisters. Lol long time dream of being able to do something like this and what with it being her 30th its the perfect time; even if Im not super flush with cash at the moment.

Plus if I can help with the cost we can go somewhere 'Jennie Approved' so it would be really nice because being a 30th I just want this hol to be as glamourous as we can on this budget. We normally do camping, caravaning etc. and Ive only been to one totally 'oooooh' hotel before so to do a week somewhere really nice would be 'Jennie Approved' for such an occasion lol that phrase could easily mean a campsite or caravan on other occasions.

harrpau7

I thought I was the only person who was super organised with savings, glad I am not alone!

All my balances, income, expenditure, projected savings targets etc are saved on a spreadsheet (much to the amusement of my girlfriend). I have 5 bank accounts, my current account, joint account with the better half, ISA, and two savings account. Current account is where wages are paid into and my own personal debits come out of, joint account is for house stuff, ISA is already maxed out for tax year, 1st savings account is what I put money in each month (can vary dependant on the overtime I do each month).

My other savings account is what I call my extra savings account (and this is where my girlfriend really enjoys taking the p1ss out of me).Anytime a direct debit goes out of my account I will put the loose change in this account so that my balance is rounded down to either a 5 or a 0 (eg if my balance was £250 and a direct debit for £12.98 went out, my balance would be £237.02, so then I would transfer £2.02 to my extra savings account so that my current account balance would then be £235). With my direct debit amounts each month, doing that alone saves me about £20.

I also slightly over budget for petrol each month, that is usually another £20 at least a month and I also allow myself £200 spends each month for going out, shopping etc. If there is any money left over in my current account the day before I get paid from my petrol and spends budget then this goes into the extra savings account, I can usually put about £100 a month into this extra account, which I use for stuff like car insurance, road tax and holiday spending money. That way I figure that the money in my ISA and my main savings account is just that, savings (for a house).

I have a sister that works at Morrison’s and as a result I get 10% off my shopping (discount card). Whenever me and my girlfriend go shopping whatever discount we get we buy saving stamps, so far for this year we have about £60 each. We also have about £40 on a nectar card, so we figure that will cover the Christmas food and drink shop as well as the little presents.

Finally, I save all my silver coins, I go from December to the end of November each year and then that is used for Christmas presents. Since last December I have saved £115 in silver, my target is £150.

While i am perhaps a little OTT with all this, I have done it because I spent best part of ten years in debt, finally got out of debt about 8 months ago and in that 8 months through combination of PPI refunds and working damn hard I have saved more than £10,000. I want to save another 10 to 15 grand in the next 2 years for a deposit on a house. i always do a bit of overtime each month and also do night cover twice a year (worked out this alone earns me an extra £3,000 a year or so). Factor in double time for bank holidays, quarterly bonuses and me accounting for practically every penny I spend and you have one meticulous saver, and I don't intend to change