Savings Log of a 26yr old on low pay

foreversummer

I just want to say I greatly admire you and what you have achieved and I have enjoyed reading your thread.

I think you are doing brilliantly and I take my hat off to you.:T

Foreversummer

Yeo_CH

Hi MoneyWaster,

Just pop over to read this thread from page 1 to 6.

My saving method has always been putting the 'leftover excess' from a month's salary into saving account at the end of the month. But, my wife's saving method is to allocate money to every likely expenses and straight away put the rest into bank. That way, she lock away some money into saving before spending. Guess who's method is more effective. No wonder she is the Home Minister!


Best Wishes

N1AK

MoneyWaster2007 wrote: »

I agree that £40/50 for a night out is a lot of money to be wasting, but as I am a single 26 year old lad, I need to try to find myself a nice girl and my only chance to meet new girls is by going on a night out. There are no nice girls where I work, I think they have a policy against employing young attractive ladies

Sounds like a better use of £40 to me than Sky but then I don't love the football :rotfl:

Really impressed by what you've done so far. As a fellow 26 year old I fully understand your desire to meet a nice young girl. I picked mine up only 9 years ago, two wages certainly help cover the bills and it means I'm officially allowed to be boring these days

tiff

Glad she came in usefull NIAK LOL

N1AK

tiff wrote: »

Glad she came in usefull NIAK LOL

Fortunately she has many other redeeming features. I on the other have no use except as her punishment for some terrible wrong in a past life (and cooking dinner).

Keepitcool

Your a good example for all :j

Arthurian

This might not work, but how about finding a nice pub full of nice young ladies and working behind the bar one night a week? Or if you can get a day release course, there might be something tasty in the college coffee bar. Carry a book - makes you look thoughtful and intelligent, gives her something to start a conversation with, and gives you something to talk about. Oops, have I wandered off topic?

Congratulations on your achievements so far, OP.

MoneyWaster2007

Thanks for the replies.

Lately I have been going off track a bit, spending money on things like takeaways instead of saving money by cooking my own tea and also buying things from the sandwich van at work because I couldn't be bothered to go to the shop and make my own lunch. Maybe it's because I have had a pay rise and have slightly more surplus income and I'm thinking things like 'one takeaway won't hurt' or 'I'll buy a sandwich from work as a one off.' But the problem is that these 'small' purchases soon mount up to a decent amount of cash needlessly wasted. It was these small savings that helped me to get out of debt more quickly than I would have done otherwise. So...I think the small purchases, the ones that often go overlooked are the key drain on my funds and need to tighten the strings as it were.

Is anyone else this focused with saving money?

Also, the work I was meant to be doing today got cancelled, meaning I will have less to get to the end of the month and so need to be fully focused on each coin that leaves my pocket.

Was going to go out last night, but my friend is skint and was only going for a couple of pints, so I decided to stay in as it would have been a waste of time and money in bus fares etc. So last night I stayed in and played on the new Fallout game for the Xbox 360

Today I'm going to help my mum fix the garden shed at her house, then after that not got much planned. Bit of a lonely weekend for me

Don't mind being on my own too much though, just feel that people are out enjoying themselves whilst I'm stuck at home...

Googlewhacker

MoneyWaster2007 wrote: »

Thanks for the replies.

Lately I have been going off track a bit, spending money on things like takeaways instead of saving money by cooking my own tea and also buying things from the sandwich van at work because I couldn't be bothered to go to the shop and make my own lunch. Maybe it's because I have had a pay rise and have slightly more surplus income and I'm thinking things like 'one takeaway won't hurt' or 'I'll buy a sandwich from work as a one off.' But the problem is that these 'small' purchases soon mount up to a decent amount of cash needlessly wasted. It was these small savings that helped me to get out of debt more quickly than I would have done otherwise. So...I think the small purchases, the ones that often go overlooked are the key drain on my funds and need to tighten the strings as it were.

Is anyone else this focused with saving money?

Also, the work I was meant to be doing today got cancelled, meaning I will have less to get to the end of the month and so need to be fully focused on each coin that leaves my pocket.

Was going to go out last night, but my friend is skint and was only going for a couple of pints, so I decided to stay in as it would have been a waste of time and money in bus fares etc. So last night I stayed in and played on the new Fallout game for the Xbox 360

Today I'm going to help my mum fix the garden shed at her house, then after that not got much planned. Bit of a lonely weekend for me

Don't mind being on my own too much though, just feel that people are out enjoying themselves whilst I'm stuck at home...

Well done on being so focused. The Xbox is a cheap form of entertainment especially with COD 7 coming out on Tuesday!

Hours of entertainment!!!

katebl

Hey moneywaster, I don't usually comment on people's diaries but just thought I'd wish you good luck! I also agree with everyone about putting a few £ a week aside for the car, as if you do ever have a big bill fair enough it can come out of your ISA but it's still upsetting to see the savings go! I've started saving £5 a week out of shopping money for one car's tax, and our newer car is on a £17pm service plan for 2 years with free MOTs.

I am a couple of years younger than you but had a similar problem as you... Discovered boys and drink so that was the end of college, and ran up 20k of debt by the age of 20! I am a MSE with the things I buy (discount codes, cashback, etc) but not particularly frugal (OH and I rent a nice flat, have 2 cars, takeaways, and plenty of treats) but I do wish I was less inclined to spend. Not to sound patronising at all to you (please don't take offence) but reading threads like this makes me think I don't need half the things I buy to be happy and I ought to fix up!! Have contemplated a spending diary but would find it a bit of a pain in the !!!!! - did you keep to it and how did it work out? Maybe I need to invest in a little notepad...