How much can you save?

LucyTheDwarf

Sure, PM me your email address and I'll send it on

Masomnia

Lokolo wrote: »

Are you going into third year or second?

Second, of three years, so I do still have time to make it up!

And thanks Lucy!

Lokolo

Masomnia wrote: »

Second, of three years, so I do still have time to make it up!

How do you have a student debt of £6429?

Is that inc. overdraft or just student loans?

Masomnia

No overdraft thankfully. Tuition fee of £3,070 plus maintenance loan of £3359. Dunno why I've bothered to put it in my signature really, it's not as if I'm worrying about paying it off.

Lokolo

Masomnia wrote: »

No overdraft thankfully. Tuition fee of £3,070 plus maintenance loan of £3359. Dunno why I've bothered to put it in my signature really, it's not as if I'm worrying about paying it off.

Any reason why you didn't get the £3385 max?

Masomnia

I assume it's to do with the grant, but I'm not sure.

save-a-lot

Not checked into this thread for ages.. but we are having to dip into savings now, which after all they are there for. Child #1 is just starting school and child #2 is being looked after by stay at home mum. It is the stay at home mum bit that means raiding the savings. So, the pot will reduce over the next 2 years or so, but, thanks to this thread the pot stands at around ~£35K, so I think we will be ok. I will still be able to contribute into SAYE scheme at work as I am already locked into those and the gains are quite good if the share price goes up.

Anyway, happy saving all

Lokolo

Good luck.

As she will be a stay at home mum she can do the budget, look for offers in shops for food etc.? This hopefully will be able to save you some pennis.

Also - what about a job from home? Any data entry work? Poor pay but gives her something to do!

save-a-lot

I have a sideline business as well as my day-job, it is early days, but with some effort I can get this beyond the costs of starting up and into profit by sometime next year. That will help. The only issue I have is, alot of the money is tied up and currently the accessible money is in ISA's. The last place to raid really. The other is in a fixed rate bond and I think there are penalties for pulling that money out... the bond idea was a bad one from the outset... it is not really making us any money (in real terms)

The_Dark_Defender

The_Dark_Defender wrote: »

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?

Sorry for posting this again. I think the graduate loan rate is around 8.6% but I'm not at home to check if that's right. I'd like to get into the habit of saving as I've never actually properly saved before.