How much can you save?

moneysavingwannabe

paulboy83 wrote: »

Thats why we are here though, give a bit of support when its needed and celebrate how well we are doing

Hi,

Welcome to the new people on the thread.

I agree although now I don't really have much left in the way of savings ....but it will motivate me to know that I can clear my debts quickly and start to save again or pay off the mortgage a few years early!

I am trying stoozing at the moment but wouldn't have thought of doing it without this lovely website!! :money:

slowlyfading

Hit the £1k mark before christmas! Am so pleased :j

Woodyrocks

Only a week into the month and I have managed to stash away £500 in my YBS regular saver. £100 in my Daughter's HBOS reg saver, £400 in my A&L Direct Saver and £250 in my Nationwide e-saver!

slowlyfading

Woodyrocks wrote: »

Only a week into the month and I have managed to stash away £500 in my YBS regular saver. £100 in my Daughter's HBOS reg saver, £400 in my A&L Direct Saver and £250 in my Nationwide e-saver!

oh my god thats amazing!!

Lavendyr

Hello, I'm new (I think - I meant to post here before but don't think I ever actually did - mind you, haven't looked back to check yet...)!

My OH and I are saving up for a deposit on a house in a few years' time. I started work in August 06 with a payrise in August 07. In July 06 I was in minus figures on my student overdraft so actually started from less than nothing!

So far (in 15 months) I have saved:

£3000 NS&I Direct ISA
£1776 Icesave
£100 Premium Bonds (just a little flutter really)

I aim to save at least £450 every month which will firstly fill up my ISA each year (already done for this year) and then overflow into the Icesave account. Some months I can afford to save even more than this.

By January I will have saved in excess of £5k, so my aim for 2008 is to save another £5k as a minimum, and ideally another £7.5k - I expect to save even more than £5k, especially if I do gain another pay increase.

So to achieve £5k I need to put away average £417 per month, to achieve £7.5k I would need to average £625.

Wish me luck

save-a-lot

GOOD LUCK Lavendyr - great start to your saving btw

McSaver

With the unfortunate news of the bank of england lowering interest rates by 0.25% its gonna become a little more difficult to keep up my savings.

save-a-lot

Hi Lavendyr you talk of payrises, well I am busy preparing for my end of year review which is on Tuesday. So hopefully next year when the payrises and bonuses are given out I'll be getting a good one. I did a course 3 years ago on getting what you want from appraisals and that taught me some great lessons that has helped increase my income quite significantly.

1. It taught me to keep a diary of my efforts on a monthly basis
2. and, being in control during the appraisal meeting

I have targets to meet, which I usually do, but keeping the diary and communicating that to my manager captures lots of effort that my targets would otherwise miss and would be forgotten about. So the amount of material I can draw on is usually alot and this helps impress my managers. So I can demonstrate I have gone beyond just completing my targets. They then go on to recommend my payrise and bonus.

That is my one tip I have found to work, try it, I just do it in Word on a monthly basis, then tidy it up for my review. Works a treat.

save-a-lot

McSaver wrote: »

With the unfortunate news of the bank of england lowering interest rates by 0.25% its gonna become a little more difficult to keep up my savings.

Why? the interest earned will be less, but has the 1/4% drop put you off... I must admit the NS&I Direct ISA is now not as attractive as it was for sure, but I will keep saving.

Lavendyr

Thank you save-a-lot I work in quite a small company so it is sometimes difficult to keep track of exactly what my targets are and how I'm doing at them, so I shall definitely bear your sound advice in mind. Thanks again