How much can you save?

liverpoolcarl

Hi Wispa, if you have a read of Martin's guide to savings you won't go far wrong. I have followed it....

steady__eddie

Greetings Wispa and congratulations on managing to land a job that is commensurate with all those years of "burning the midnight oil".

44pinkpink

i'd like to join in please now that my internet is working again - i realise that my savings attempts have lapsed cos i haven't had these chat threads to keep me inspired.
i need to save cos i haven't any savings at the moment - should be able to save but have been putting off using the budget calculator on this site - i'm off to use it now

savingforoz

I'd like to join in too. My savings goal is to have enough to retire to Australia in due course - they allow people in after 55, but require capital of some £370,000 and an annual income (not from salary) of c£27,000 at current conversion rates :eek:

So far I have capital in my house of £135,000 plus savings/investments of £20,000 - so not far off the target then :rolleyes: ! Plus £78,000 in my pension pot.

I think I will have to get an investment property somewhere down the line, but do not feel that now is a good time to be getting into buy to let, so am currently investing in stockmarket funds.

Currently I pay £210 per month into my pension and save at least £1,000 per month in a mix of savings and investments. Am considering doing matched lay betting in the New Year to boost the funds.

Oz here I come! :j

Wispa29121

Judi wrote:

Hi Wispa, welcome to the post and welcome to the boards! If you are going to be a tax payer in the future i would suggest you look into Isa's. Here is a bit of light reading for you. Here is a bit more.

Thank you for those links - very useful!

Have to say it's going to take a while to get my head round all this but I'm going to persevere as I really want the most out of my savings! Thanks for all your comments guys :j

System

Another £30 saved today using my Tesco clubcard vouchers against my online shopping this week.:j Was paid £10 by Topcashback yesterday too.:beer:

save-a-lot

Hi

Saving Morrison's saver stamps and we have a full card (£97 plus £3 free if spent in Nov or December) and also £20 of vouchers with Morrison's miles. So that will go along way towards the Xmas food shopping. Have another £36 in saver stamps on another savings card but we shall carry them over to next year and save them for Xmas 2007. I reckon for Xmas '07 we shall have £200+ in saver stamps.

I know it may be more prudent to bank the money, but it is satisfying seeing the cards build up and at the end of the day, once the sticker is on the card that is money we can only use for the one purpose.

save-a-lot

Hi

Anyone thinking already of New Year resolutions to do with saving?

• I am going to keep on saving the saver stamps for Morrison's for Xmas 2007
• I am going to save £60/month for Xmas 2007 (I say that every year though and it never happens)
• I am going to keep my car rather than change it, it owes me nothing and I can squeeze some more value out it
• I am going to actively review where we get our services from, especially gas and electricity (I am going to do that today)

System

My big money saving plan for the new year is to help pay off a loan that MrJudi took out a few months ago, without touching my savings pot. This money i am hoping will not come from the family purse but from 'new' money. Looks like buying and flogging stuff on Ebay is next on the agenda.

Anyone seen Soolin lately cause i aint got a clue.:o

savingforoz

My savings goals for 2007:
To firm up a bit more as to how to achieve my Australia savings pot :rolleyes: .
Increase standing order to investments funds to £500 per month.
Have £35,000 in savings and investments by 31/12/07 :j .
Review all my expenditure in conjunction with this site and see if I can make further improvements .
Check out ways of creating passive income - I have a small (very small!) stream of this already and it may be possible to increase this to maybe £50 - £100 pm.
I may dip a toe in the water of matched lay betting.

This is a great thread - hopefully, just like the DFW board, we can encourage each other with our goals.