How much can you save?

The_Dark_Defender

Hi guys,

Is it a waste of time saving when I have a large enough graduate loan to pay off? I was hoping to save up for a car and holiday next year but not sure what way to approach it. Like, what I'm trying to say is, that the the interest earned over that small period will be so insignificant, won't it?

Rose_Crow

Hi everyone,

Sorry I haven't posted in a while. I can't believe it's been over a month since I left on the ferry bound for the continent - incidentally we had a fantastic time, if anyone's interested I can point them in the direction of some photos

OK, back to money. The holiday actually came in under budget. Without having MS Money at this PC is difficult to remember, but I think I had around £200 extra (which of course has gone back into my savings). My regular saver yearly bonus should be coming to an end soon, so I'll take the bonus and cancel it. I'm not likely to fill up my ISA allowance in a year so I may as well drip feed the extra £50/month into my ISA instead of the regular saver.

Really need to concentrate on long term saving, although there is already talk of a trip to Norway next year. Am I ever going to be able to afford a house? :rolleyes:

Rose_Crow

Driving_Soon wrote: »

Started College today .. I don't like it haha .. spending alot of money! .. £36 on something for my course! £186 for fee's, and around £10 travel a day! Don't like it! Haha!! But going to apply for some grant or something from my college .. need to put that money in my savings .... NOW!!!! haha!

Cool - I'm starting my course - HNC in Building Studies next Tuesday :dance: Whatcha studying?

Driving_Soon

grn.w.nv wrote: »

Cool - I'm starting my course - HNC in Building Studies next Tuesday :dance: Whatcha studying?

Health and Social Care! BTEC! .... I hate new things! so its gonna take me a while to enjoy it i think :rotfl: .. Let me know what you think of ya course and that once you start!!

paulboy83

grn.w.nv wrote: »

Hi everyone,

Really need to concentrate on long term saving, although there is already talk of a trip to Norway next year. Am I ever going to be able to afford a house? :rolleyes:

I went to Oslo for a night with work a few months back and its really really expensive. Only had a few spare hours but it looked nice, and i'm told the fjords are gorgeous.

I spent £5 on a sandwich which I worked out was vegetarian but it was cold cooked cubed vegetables, and if there is one thing I cannot stand eating its cold potato (well that and meat and fish and mushrooms.....) Sadly thats my big memory of Norway, its silly the things I remember!

Masomnia

Gutted. I've had to dip into my savings to cover my outgoings for the month. Hopefully when I get up to Sheffield I'll be able to get my overdraft sorted and not have to get any more out

Lokolo

Are you going into third year or second?

savingmore

Suzey wrote: »

You are right, I checked out the Etiquette link and it says no lobbying...

Suze

i agree with this, i have enjoyed this thread and you are not meant to ask to be nominated. to be honest, buying stuff cheaper in one shop like poundland instead of another is not really nominating stuff, most people trying to save do this..sorry!

LucyTheDwarf

Anzac_Biscuit wrote: »

Does anyone else have trouble working out what to focus on for saving?

I have general savings - for house, life, retirement etc. This is saving which I do not expect to spend in the near future.

Then I have my Pots spreadsheet. I list everything I'm saving for, and the cost. So, here goes: Christmas, Highlights (on the spreadsheet 6 times, as it represents a year), Car insurance, Car Service, Car Tax, Holiday Fund, Winter Coat Fund, Winter Boots Fund, Treats, Emergency Fund. I then list the cost of each (or my best estimate) and then all money that goes into that account, and any interest earned, is split in proportion to the amount I need for the year. I have it set to turn orange when I have enough. So I can afford my winter coat and shoes already And I know that by saving I'm not going without, I'm buying a fabulous pair of boots... just putting collecting them on hold for a while.

Masomnia wrote: »

Gutted. I've had to dip into my savings to cover my outgoings for the month. Hopefully when I get up to Sheffield I'll be able to get my overdraft sorted and not have to get any more out

:grouphug:

Stay positive! You will put your savings back, and more besides, I am sure. It's only a temporary dipping in.

The_Dark_Defender

Hey Lucy, any chance I could have a look at that spreadsheet? Sounds good!