How much can you save?

zag2me

Welcome to the thread Zazie and Jamie dodger.

It's one of the best feelings in the world waking up every morning knowing the money you saved is growing.

It's better than owning a flashy car
It's better than having a new plasma tv

Just remember that next time you think you need to buy something, the next day you wont wake up with that nice feeling.

Once you start saving it becomes very hard to stop, its kind of addictive.

JAMIEDODGER

thanks zag2me!

im not into cars and dont watch tv so i think im really gonna enjoy saving:) i really want this overdraft gone so i can hammer my loan but because there is no benefit to paying it off early,i will be "saving the equivilent" in a savings accout until i have enough to pay it off in one go. the the real savings will start:)

EagerLearner

jamtart6 wrote:

Hi Mr Tall!
I fully understand where you are coming from and yes I would pay off his debt if:
a) we had a longer term plan (ie. engaged rather than just talking about it)

b) if I thought he would be ok with money... he has been brought up with the kind of "if you want something, just get it on credit, its ok because everyone does that" ...wheras i have the mentality that "if you want something, save for it" - id like him to adopt the latter! If i paid it off for him, he would fritter some of the money he would have paid his loans off with on "frills spending" and I dont think he would appreciate the value of money - if that makes sense? Every time he pays some of his loan off it hurts his pocket and he always says "im not getting into debt again" -so if I pay it off...i worry that he might get another loan , which he would expect me to pay too... saying that he'd be too proud to ask for help anyway !!

I do know that in the long run it is the best idea but every £50 or £100 he saves for the house, he's really proud of himself... so its all a lesson in life... might just take us longer to save....!

Get him to use my budget planner below for 'frills'

You never know, it may make a difference

Mr EL is not good at saving so 5 months ago we agreed I would save for him. Each month instead of me paying £400 into savings and £100 to him towards rent, I now pay £400 to savings and put the £100 I used to place in his little hand, into his ISA instead. He says he only took one month or so to get used to the 'pain' but he would never had saved had we not done this system...

I'm a savings addict, no cure for me :rotfl:

moneysavingwannabe

Hi,

I would like to join too!!

We are saving for 1) an extension - starting in Feb need -£22,000
2) a new kitchen for the extension - £3-4000
3) a wedding- who knows!!!

Current savings Dec 2006 £18,619.00

Not sure if we will make it by Feb but this thread might help!!

Wanno

I had some good news last night. I complained to Abbey about service and various mistakes they have made and they responded by offering 100 pounds as an apology!
I have gone into the overdraft this month due to Christmas present buying, so I'm am tempted to use that to pay off that. What I really want to do is add it to the pot and I think that will probably happen.
Pay day in two days with overtime added. Looking forward to that!

System

Great news about the £100 Wanno. Wish things were going well for me at the moment. Ive got £100 saved since the beginning of December and owe my credit card company £382 that i am hoping i can claw back from the next few weeks tax credits before the next credit card statement comes in.:o

I thought i had christmas sussed this year, but it appears i was under an illusion.:rolleyes:

slowlyfading

This may seem trivia but today I was on internet sites (amazon, ebay etc.) and was so tempted to buy aboue a million things, but I stopped, logged off the computer and walked away. I'm so proud of myself for this mini achievement. that adds a bit more to the tin :j

save-a-lot

slowlyfading wrote:

This may seem trivia but today I was on internet sites (amazon, ebay etc.) and was so tempted to buy aboue a million things, but I stopped, logged off the computer and walked away. I'm so proud of myself for this mini achievement. that adds a bit more to the tin :j

That is such a good way to save money, walk away and if you still want it, think "do I actually really need this?" if the answer is "yes" consider buying. If the answer is "no" or "don't know" leave it alone. This is how my gran lives her life, I am more impulsive and I am only learning to do this now.

babes21

Hiya everyone

Not saved too much this month as i've had a lot of outgoings what with Christmas and New Year coming up.

Hopefully next year i'll be able to save a lot more, plus i'm going to start a spending diary so i can see exactly where my money goes each day/week/month.

Everyone seems to be doing really well, keep at it :T

Redbedhead

save-a-lot wrote:

Hi

If you are saving for a new house, could you purely save and not pay into the current mortgage. What I am thinking is, if you are buying a new build you could lay your savings down as the deposit plus any profits on your old house and take a lesser mortgage on when you buy new. I think the savings long term of taking a smaller mortgage on could work more in your favour. That is the way I am thinking, it could just be my dodgy maths.

At the moment anything I pay in to the mortgage is extra, i.e. we save a set amount each month towards the new house and if we get any unexpected income that goes to the mortgage. I doubt we will be buying a new build as we got messed about by some builders earlier this year and it has really put us off.

We need to make sure we have enough saved for the stamp duty, fees and removal costs, so we are setting a target of £10k and just trying to reach that asap.