Savings Log of a 26yr old on low pay

findingmyownway

Hi MW, I have just read your thread all the way through and I have to say you're an inspiration to many young people in this country. Your situation is nothing to be ashamed of at all, you should be proud to be so self-sufficent when many 20 something year olds are either in debt or living off the bank of mum&dad.

You do sound like you have the intelligence and mindset to be in a much better job than you currently are. I agree with the other posters that while your current saving drive is commendable, for long term security you need to invest in yourself. Have you applied for any new jobs lately? I am sure posters on here would be happy to offer CV advice (myself included)


How are things on the social / girlfriend front? As a fellow yorkshire person, I can offer you some suggestions (more if you wish....!)

http://www.armedforcesfitness.co.uk/ is an outdoor fitness class which is renowned for being friendly. Lots of 'down to earth' girls there too! Downside of this is it does cost money.

http://www.takeahike.org.uk/ are a young persons walking group - they advertise as leeds/bradford but the majority of the walks are in the Dales and I know plenty members from Harrogate. Walks are free / v low cost, perfect summer activity as you'll get a whole day out with people in the countryside and there's always pub stops factored in .

linz

Hi MW,

Just wondering how you're getting on - it's been a while. Update us !

MoneyWaster2007

Hi sorry I've totally neglected this thread for ages, by the way thanks for any replies that I've not thanked.

Will make this update brief as I'm on the bus...in a nutshell I sold my car, bought a road bike, have been cycling to work but just got a bus pass as the weathers about to get worse. I got a ppi payout of 2880, and have 5250 in savings..and still not smoking for 1yr7mnths

maryleerk06

Well done!!! Your dedication is impressive and by the sounds of it your doing your health wonders in the process!! Keep it up!

Spamtastic

Excellent news, well done! If you can get some decent wet-weather overtrousers and jacket you'll be surprised how long you can keep cycling through the autumn and into winter. I bike to work and only ever stop if the roads are icy. Rain doesn't stop me anymore since I got my waterproofs.

rich11

Well done MW next step is the magic £10k

MoneyWaster2007

Thanks, you may think I'm a bit wimpy but I'm not a fan of cycling in the rain - I could do it and save more during the winter months but have chosen not to - a bus pass is still way cheaper than running a car and is a fixed cost, whereas a car brings with it unexpected costs

To hit £10k will take a while! I saved £5k in 6 months, but that included £2880 ppi payment plus £1500 tax rebate so that means I've only banked £620 myself, so at that rate it's going to take a while, but the main thing is that by selling the car I've effectively sewn up the big hole in my pocket that owning a car created. And so my money is virtually 'risk-free' in that I am 99% confident I wont have to dip into my savings for anything and so with it only going in one direction - up - it should build fairly well. And who knows there may be more unexpected income in the future fingers crossed.

Nearly finished the first module of my psychology degree - just one final assignment to go but then the next one starts

gallygirl

MoneyWaster2007 wrote: »

Nearly finished the first module of my psychology degree - just one final assignment to go but then the next one starts

What one have you done? Have you enjoyed it?

rich11

MoneyWaster2007 wrote: »

Thanks, you may think I'm a bit wimpy but I'm not a fan of cycling in the rain - I could do it and save more during the winter months but have chosen not to - a bus pass is still way cheaper than running a car and is a fixed cost, whereas a car brings with it unexpected costs

To hit £10k will take a while! I saved £5k in 6 months, but that included £2880 ppi payment plus £1500 tax rebate so that means I've only banked £620 myself, so at that rate it's going to take a while, but the main thing is that by selling the car I've effectively sewn up the big hole in my pocket that owning a car created. And so my money is virtually 'risk-free' in that I am 99% confident I wont have to dip into my savings for anything and so with it only going in one direction - up - it should build fairly well. And who knows there may be more unexpected income in the future fingers crossed.

Nearly finished the first module of my psychology degree - just one final assignment to go but then the next one starts

Tell you what mate you are an inspiration.You have come such a long way since you created the thread

Shame about the late equalizer today though

snowqueen555

great thread, keep updated!