How much can you save?

Driving_Soon

:T

LucyTheDwarf wrote: »

You've only got until 20th July!

I used to have all my accounts in the same place (HSBC). But I figured that I was losing a fair bit in interest, just for the added convenience. And to be honest, now I have accounts with HSBC, Kaupthing Edge, Alliance & Leicester, Halifax... it's not very inconvenient, because I operate them all online anyway!

Seeing as you have the cash to fill up the Halifax account, you may as well make the most of it. That's how I see it. It's hassle, but at the end of the day, it earns.

:eek: 20th July??? :T Gonna Apply right now you have persuaded me!

Your right

LucyTheDwarf

Muahahaha!

Dunno. I felt an evil laugh was appropriate.

Chopper98

Do you guys earn a lot? Not wanting to pry, just seems like everyone is saving between 500 and 1000 quid a month.

Driving_Soon

Haha Lucy!

Not at all Chopper, well I don't Anyway, all the money i have saved is from the last 2 years, working getting £800 a month!!! Pitterns lol!

KeithEssex_2

Just wanted to wish everyone the best with their saving endeavours.

For many years I made a point of saving really hard which allowed me to pay off my mortgage early. This has saved me a huge amount in interest payments to the Building Society.

So get rid of any debt as your first step - Credit Cards, Loans & Mortgages - whilst keeping some kind of safety net.

If you can reduce the term of your mortgage then try and do this. The payments are not that much different for a shorter term but this can leave you debt free much earlier in your life.

Good luck to you all .. :T

cookie9

Thanks for the reminder about the Halifax deadline. I too am going to set up a regular savers account.
Had money left over last month so treated myself to new work outfit. Feeling a bit guilty but also have quite a few meetings so want to look smart. This month there are quite a few special events such as weddings but being fairly MSE by wearing outfits I already own as the group of friends have never seen them before. Going to budget hard on food and extras so this will offset the cost of hotels. Also going to bite the bullet and ask about quitting my gym. Fairly expensive considering I only normally go once a week. Can always rejoin using Prudential. Anyone done that?

Woodyrocks

Chopper, whilst I can't speak for everyone on here, what I can say is that I spend a lot less than most in comparison to what it is earnt, so the reason I think I for one am able to save huge chunks of my earnings is because my outgoing is a lot less than incoming.

LucyTheDwarf

Chopper98 wrote: »

Do you guys earn a lot? Not wanting to pry, just seems like everyone is saving between 500 and 1000 quid a month.

I wish! I have a fairly low salary of £15,500. My take home pay works out at about £1000 a month, and I am trying to save as much of that as possible. I'm also hoping my salary rises quickly. It's certainly beaten inflation so far I just try to keep hold of any rise I get. If I managed on lower before, I continue to manage on lower, the rest is saved.


KeithEssex - thank you for the advice. I've often noted your posts, in other threads (don't wish to sound all cyber stalker here...) - just thought I'd say that I think you're great, for speaking your mind and always being helpful. That's the way you come across, anyway!

zag2me

KeithEssex wrote: »

So get rid of any debt as your first step - Credit Cards, Loans & Mortgages - whilst keeping some kind of safety net.

If you can reduce the term of your mortgage then try and do this. The payments are not that much different for a shorter term but this can leave you debt free much earlier in your life.

Wise words, exactly what I'm going to do! I cant wait to be mortgage free in my early 30s

Aussieonabudget

Wish I was organised and responsible enough to have a morgage (well, the house that goes with it anyway). I feel like I am so far behind being 28 and not having property or much savings (have only started recently). So my goal is to own a house by 30 and to try to pay off the morgage as soon as possible. Joint debts have to come first though - and we only have memories from holidays to show for them!

At least I have seen the light, am following a much more MSE lifestyle and trying to save as much as possible, as effectively as possible, and as soon as possible (just like everyone else I guess!!)

Good luck to everyone, regardless of their saving aims and current situations, as long as you save as much as possible you are going to be better off than if you hadn't saved it at all!!

Aussie