How much can you save?

McSaver

* Savings Update - March 2008 *

My main objective at the moment is trying to stop myself from gambling my cash so I can save more of it after last months silliness and misery, fortunately this month I have achived that and have had plenty of overtime at work to help me stay away from it because I have had less free time on my hands. Thankfully I have managed to save £700 this month to try and put myself back on track and should save more next month with all this overtime I have done. So I can give myself a pat on the back

[strike]The Damn Thing wont let me update my signature at the botton now[/strike] :mad: :mad: :mad:

I have managed to get that sorted - Percentage Updated!!!

Woodyrocks

It felt at times as if it would never happen but I can confirm that I am finally past the halfway mark Deposit fund currently stands at £30,643.13

2008 is looking good. Been hitting and infact surpassing my 1650pm savings target and although I am off on holiday next week and not back until the 22nd, I am hoping that magic will happen in the last week of April and I can make up lost ground. I have to say though that I am absolutely knackered a lot of the time what with the day job and the night job and the parenting but hey we do what we need to and it is not like it will always be this hectic!

Vicky82

Was able to save more than I thought I would this month, and a pay put from my last company pension meant I was able to save a few hundred pounds more... (my old pension wouldn't allow me to leave the money there when I wasn't with the company any more and my new pension wont allow transfers in).

Still a long way to go though!

Welshlassie

Hi I'd like to join
Not actually sure what I'm saving for yet as we're in the position of not technically having any spare cash due this thread http://forums.moneysavingexpert.com/showthread.html?t=720613
but after our first month I have just moved £800 into our savings account. We did have some additional income during the month and a few 100 was a transfer from my car savings account to pay for the service and tyres to cover money spent the prior month, but I'm very impressed with our cutting back skills and the ability we still have to save.

There's a possibility I'll need to move a small amount of it back to cover a couple of expenses, but hope that at the end of next month I'll be able to transfer another few hundred into savings.

We already have approx £7,500 in various savings account so would really like to increase this substantially as far as possible, maybe reach £10k by the end of the year as an initial target.

wiseman405

Set all my new standing orders up

£285 into the ISA
£200 into the regular saver

And i am all ready to fire in £600 into the ISA on the 7th

Just wish i could do more with money, been 16 is annoying i am so limited to certain accounts and not been able to invest in stocks and shares or buy properties! I want to get started now!!

Anyone think of something which i can do with my money?

Thanks
Tom

moneysavingwannabe

Hi,

Hope everyone is ok and still saving.

I'm still saving as much as I can .... but it is going to pay the remains of the extension/kitchen etc.

Plus I still have the small matter of a wedding to pay for! :eek:

Trying to work out if it is worth maxing out an ISA but then having to withdraw it all to pay off the 0% debt at Christmas when the intro rate runs out.

born_again_saver

moneysavingwannabe wrote: »

Hi,
Trying to work out if it is worth maxing out an ISA but then having to withdraw it all to pay off the 0% debt at Christmas when the intro rate runs out.

If you max out the ISA and then withdraw the lot in December, you will be unable to put any more money into it for the rest of the 2008-9 tax year and so the tax free allowance is gone for good.

If you have more than £3600 to save before December but you still want to max out the ISA first, then save the rest in a normal high interest account and withdraw this first, before dipping into the ISA. This will at least leave you with a little money left in the ISA assuming you don't need all the money in there.

If you're likely to want to save more into the ISA for the longer term after December, then I'd suggest that you look at saving into other high interest accounts and possibly regular saver accounts for the first part of the year. Some of the regular savers have a high enough interest rate that they do well compared to an ISA even with the interest taken off.

Anyways, good luck with your savings for the coming year!

purplevamp

FINALLY got our housing benefit decision - they're going to give it to us :j . Bad new is we can only have £3,000 in savings and that's what we have so it looks like we can't save anymore for the moment :mad: .

spaneshal

Well its been a bit quiet for me on the savings lark for march/april, just off my target to hit the £7000 mark. Being as though I only had £3000 this time last year, I'm quite thrilled and find saving for my future home so rewarding.

Mid April will be a much big boost I need, a bonus payment, my pay rise coming through and ISA and savings accounts gaining interest!

Happy savings all, dont forget your ISAs!

sassybabee33

Have decided to give up on the idea of shared ownership, and start saving for our place! May only be little bits some months at the moment,AS SAVING FOR HOLIDAY MONEY, but hopefully it will all work out!




NATIONWIDE ISA- MARCH - £150
£2 TIN -APRIL - £4
HOLIDAY MONEY -MARCH - £160