Savings Log of a 26yr old on low pay

MoneyWaster2007

Thanks! Her birthday is on Monday so if I ordered a pair of goggles and a swimming hat tomorrow they may not arrive in time, but I could always just get her a card and tell her the present I've got her is on it way...that would be ok wouldn't it?

It's good that they are both from the same site as that means paying once for postage on two items :cool:

linz

Is there not a branch near you that you could go to ?

Failing that see if you can get it delivered to her house, and do a search on google for a promotion code or a free delivery code. There may or may not be one but every penny helps.

MoneyWaster2007

Just used the store locater thing on their website and there is a branch about 10 mins walk from where I live - bonus!!! You would have thought I'd have known it was there but it must have changed its' name as it used to be a JJB sports shop. So money saved on delivery Thank you!

linz

lol. Thats if they have goggles & hats on offer there for the same price. If they dearer instore get back online instead & order them from the website. I'm sure your mum will understand if you just got her a card & said the present is in the post

edinburgher

So now I will have to wait another whole month until I can hit the £1k mark

Trust me, you'll feel good when you hit four figures, it's maybe the hardest milestone. After that you're kinda used to it and it isn't nearly as hard to aim for even bigger targets

You seem to be doing a fair bit of spending this month - do you consider all the purchases essential, or are you on a bit of a spree? I ask as I allocate myself a certain amount of 'pocket money' each month (as opposed to random spending). If I don't spend it I roll it into my savings, helps things grow just that little bit quicker.

MoneyWaster2007

I have had a few things to buy recently but most of them have been needed as opposed to wanted. Last month the only spree I had involved buying a new top and trainers totalling £70. The netbook was something that I wasn't expecting to have to get, but with the laptop packing in, it was something I needed to get - I use it for spreadsheets and internet browsing.

If it wasn't for the laptop breaking and having to spend £100 on a replacement I would have saved £100 this month and hit the £1k mark, which I am quite gutted about not being able to do..but hey ho, such is life.

This month is turning out quite expensive already and I only just got paid today!

So far I've bought my mum a pair of swimming goggles for her birthday for £14 - couldn't find them any cheaper for the type she wanted - mirrored ones. Then I had to pay for a festival ticket to the tune of £54 - something that I hadn't planned on doing but my cousin bought me the ticket and then told me afterwards! Not meaning to complain though - it looks really good.
Also wasted a bit of cash...spent £2 on a Euromillions ticket as the jackpot of £117 million was just too tempting to not attempt to win :cool:
Bought a bar of Galaxy aswell for a quid and 4 cans of Kronenbourg for 4 pounds something...to chill out with tonight as got no work tomorrow

Going out tomorrow night for a meal with my family (immediate and etended) and not drinking as I am picking up my mum dad and sister...which my mum paid me £10 for my troubles - forced into my hand might I add. The meal is also paid for so will be a cheap night for me!! :cool:

Went swimming tonight and must have burnt quite a lot of calories as I was hammering the front crawl for an hour. Not sure how the chocolate and lager will help this training though

MoneyWaster2007

Hi all!

I am now part of the £1k club! (again). But this time I do not intend to leave it :cool:

GettingItRight

Hi MoneyWaster2007,

Just read some of your thread. My pay rate is nothing exciting either, just been given a pay rise taking it to £6.20. I now have about £910.00 in savings and some other money put aside for upcoming expenses like car insurance, presents etc.

I tend to find that with clothes I go up and down sizes a lot. All clothes that do not fit I keep in a big bag and store under the bed, for a day when I may be able to fit into them again. This helps save the need to purchase more clothing when my weight is in transition from one size to another.

I had a good piece of news today. I received a statement from an old NS&I Direct ISA (which I thought I closed last year). It appears that I still have £12.62 in that account:j

MoneyWaster2007

Long time, no post...

Quick update then for those who are interested.

I sold my vw polo for £300, bought a ford puma for £650, then spent £460 on it to get it in good condition. So now I have less than when I previously posted on here, but also what I would say is a better car than the one I previously owned. So now the plan is to stick with this car for 3 years plus and get my savings back on a permanent upwards trend.

I recently read the book 'The Wealthy Barber' by David Chilton. In it, Chilton describes a savings technique which is effectually 'forced savings'. He recommends you save a minimum of 10% of your income per month and pay this amount into your pot first. For example, rather than wait until the end of the month and see what you have left, you pay yourself first and make the rest last, so that way your savings constantly rise month on month. I like this idea and have implemented it myself. The 10% is hardly noticed as being taken from you. Anyone else use this technique?

I also have different pots for different costs ie. TV licence, Dentists etc. whereby I save additional cash on top of the 10% I pay myself by working backwards from the date the cost is due to come out and then dividing that cost by the number of months until then. This way, no costs come up unexpectedly that knock you off course and make things difficult.

ampersand

That's all sounding excellent mw - well done you!....again:T.

As things are getting tighter and tighter, you really are a shining example of someone just getting head down and staying the course.

I hope that your social life is showing promise, too.

One thing is sure, that the assured tone in your post, born from increasing confidence in your savings plan and staying on the upward side of the line, will show itself in your general bearing and comportment, which carries over into your dealings with people.

It's an attractive quality and will bring the right someone into your orbit......

Keep in touch.