How much can you save?

ZoeGirl_3

Thanks for your help guys!!!

Doomcow

man, i hated my overdraft when i had it. even though it was free, being out of it (before the time that the free overdraft ended 1yr post being a student) was great - felt like a load lifted.

Anyway - saving approx 25% of my wages/week (best i can do), much the same as ed89 there, earning about 1k a month post tax, so cost of living + just bought a flat, i think £50 - £60 ish per week is fair game - Hoping to save about £3600 - lets fill that ISA

Sadly, i think Mrs Doomcow would have this spent if she knew i had it!

How do i convert such a fervent spender like her? heh!

McSaver

* Savings Update - July 2008 *

Im starting to feel like im a business at the minute posting my profits for the month. Its not much of a profit like though since im having to work for the money I get. This month I have managed to save around £800 which does include the first payment of many taken away from my wages for my sharesave scheme. Cant beat the sharesave for a sure investment since cash can be recovered if the shares fall. Im going to be off 2 weeks at work next week as well so there will be a month where my savings will not be very high for 1 month but thats okay. I could do with a break from work after all this overtime.

The percentage has been updated.

Money_Magneto

Hi Margaretclare

I agree with you. it is impossible to know the actual amount we will need for retired since many factors might effect the real value of money. But just to be on the save side. It is important to save.

Money magneto

Applecider_2

Omgosssh this is the longest thread ever!! Well done on all u savers, for firstly not being in DEBT!! and for saving so much! At the Moment Im trying to save myself. I pretty much have had enough of life in the town that I Live in. I split up with my ex fella and bought the house off him, usng euqity n stuff to help pay the cost of doing this. Managed to buy it for 80,000 and pay every penny of my debt. Im now completely debt free and trying to save to go travelling round the world, I then need to come back n save for a morgage deposit. oh ad get another job!! So I was hoping to join u lot and mabe get some advice from the professionals???

At the moment im living back with my mum and renting my house out to he local council, less hassle and its out of my hands. so thats £110 a week. and I have bills of £600 a month.(inc morgage) My wages vary, but basically I get £900 a month with no extras.

so thats 1340 comng in
600 going out

leaving me with 740 a month to play with. what shall I do with it?? The council mpay me every 13 weeks which is a pain but I was thinking of putting the whole thing into a ISA every 13 weeks, then paying my morgage and stuff outta my wages

saving around 1300 every 13 weeks

having £300 a month to live on?? does that sound like a ok plan? was also wondering what else can I do to make money??? I want around £7000. Sorry to have a moan but u lot kno better than me!! Car x

LucyTheDwarf

Just posting my end of month update! Quite proud of myself. My estimated date to reach my target has jumped from October 2011 to June 2011 - 4 months earlier! I've added that to help motivate myself. It's based on my average change in net worth over the last 5 months, and helps me feel that my (pretty daunting) target is reachable - not only that, but in less than the time I've given myself!

I hope to reach 25% of my target by 31/08. August last year is when I started saving, and I had a starting net worth of around £600, so I'm really proud to have got over 20% of my target in that one year.

Happy saving folks

a_silver_lining

I typed out a big post and lost it so I'll keep this version short.

I'm 21, and in two years of saving I've got roughly 25K. I used to be an excellent saver, but have just paid for a big holiday and my rent will be going up so I'm starting to think I should kick myself back into being frugle.

I was wondering, how have you all decided on your goal figures, and what % of your wage do you aim to save each month?

Thank you all, and hope your night is going well!

- N

Driving_Soon

Intrest gets paid in tomorrow and I am so excited! haha!!

does anyone else get excited? * blushes *

purplevamp

baibelle wrote: »

I was wondering, how have you all decided on your goal figures, and what % of your wage do you aim to save each month?

I decided on my goal figure because at the time house prices were sky high in the South and it was about 50% of the total. There was (and still is) no way we could afford £300,000 for a house. What with house prices coming down we may be able to get a better deal, but I'm not holding my breath

Driving_Soon wrote: »

Intrest gets paid in tomorrow and I am so excited! haha!!

does anyone else get excited? *blushes*

erm... me :rotfl: . But I do it twice a month - 1st and 14th!!

LucyTheDwarf

Driving_Soon wrote: »

Intrest gets paid in tomorrow and I am so excited! haha!!

does anyone else get excited? * blushes *

As ever, yes! I do it more than once a month too, purplevamp 16th, 27th and 1st!