How much can you save?

gelato_cat

Hmm. I don't spend much on non-essentials, maybe £100 a month, sometimes less? I count non-essentials as eating out, going to the cinema etc.

Suze

Spendaholic78 wrote: »

I'm allowing myself £200-£300 to spend on non-essentials but don't know if this is an average amount, or whether I should give myself a bit more or take a bit less?? (I get paid a decent wage and boyf & I already have a mortgage etc)

It would really be helpful to know how much other people give themselves, just so that I know I'm on track. Some of the amounts people can save on this thread are astounding!

Thanks

beingjdc

stacy wrote: »

how many cash isa's can one person open? because i thought you could only open 1 but ive heared of people having 2. and if i have my own one with icesave can i open a joint cash mini isa with the same or diff company??

One per year.

But if you open a different one in a different year, you can't put extra money in the first one that year.

EagerLearner

Spendaholic78, in terms of savings, I pay £200 into my personal IceSave account each month, £500 into joint savings (as my hubby pays our rent) and £50 into an investment fund, plus £78 into my SIPP pension.

I then allow myself £190 for my personal 'pocket-money' each month. This allows for clothing, hair and beauty, going out (inc meals and clubbing) and work lunches etc. It averages £50ish a week, so I allow £10 cash withdrawal and the rest via debit card. Any left over each month, I pop into savings and this 'extra' averages £20-£30 on a good month.

In terms of our joint account, we pay £425 into it for all bills, all food, any household items, plus meals out each month. Any money left over at the end of the month goes to a joint savings account - I normally manage to put away £40ish per month. with little savings here and there

jamesd

stacy, you can only deposit new money into one at a time each tax year. If you want to contribute to a different one in the same tax year you must use an ISA transfer to move your existing deposits for this year to the new one and must then only pay new money into the new one. You can leave any money from previous years into the old one.

For money deposited in past tax years you can transfer as much as you like from any cash ISA to any other cash ISA, no limits at all. If you want one cash ISA with every company that offers one, go right ahead using partial transfers from past years.

save-a-lot

It pays to always follow the best rates, but I guess you need to make sure that transfer-ins are ok, I believe some providers do not allow it... is that right??

Mushy61

save-a-lot wrote: »

It pays to always follow the best rates, but I guess you need to make sure that transfer-ins are ok, I believe some providers do not allow it... is that right??

Check out the best ISA's here, it also tells you which ISAs do and don't allow transfers in.


http://forums.moneysavingexpert.com/showthread.html?t=401374

Trying_really_hard

A nice little £640 odd went into various savings accounts and Isa's this month. I'm getting into the swing of things now. So much so that I'm not keen on spending my money now (much to the boyfriend's dismay as he had to pay for the Chinese takeaway on Friday ).

Total now standing at around £1653.97. Not bad for two months.

save-a-lot

Trying_really_hard wrote: »

A nice little £640 odd went into various savings accounts and Isa's this month. I'm getting into the swing of things now. So much so that I'm not keen on spending my money now (much to the boyfriend's dismay as he had to pay for the Chinese takeaway on Friday ).

Total now standing at around £1653.97. Not bad for two months.

Good going for 2 months saving

chelseablue

Currently have just over £45K saved for the house.

TBH starting to lose focus now and on a bit of a downer

Woodyrocks

Good on you Chelseablue keep up your spirit. I am currently wavering around the 30K mark myself and hope to graze it by April but have been skirting the mark since December so that has also been disheartening. Especially as I aiming for a minimum 60K for that deposit (my very own house will be my 30th birthday present to myself)

I am turning into an excel freak and my monthly saving average is £1700 but want to get that up to a consistent £2000.