How much can you save?

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  • SystemSystem Forumite, Community Admin
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    Hi, i will subscribe to this thread too. I managed to put £300 into my saving accounts on the 1st of this month. Bringing my total savings to £8796.

    Regular saving accounts i hold are with Halifax, Alliance and Leicester and LLoydsTsb.

    Why am i saving? Well MrJudi has a personal pension and i dont.
  • iamsamiamsam Forumite
    106 Posts
    Part of the Furniture Combo Breaker
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    I'll join in if I may.. I'm looking to buy a flat in Edinburgh and the house prices here means that I'm going to need a hefty deposit :eek:

    I'm aiming to save £750+/month (I did a little budget and on a good month that's just about how much I can manage). I've got a regular saver with Lloyds and Halifax (both started ~May, with 250/month in each).

    Zag2me: I suggest you read the article entitled 'Should I pay off my student loan?'. I did. And decided not to.
  • WannoWanno Forumite
    130 Posts
    Iamsam, Judi, zag2me- you're in!

    I had a little free financial advice when I opened up my current account a couple of months ago and the adviser said "Right, that means you have about £1200 accessible money left after outgoings."
    No way is that correct, so I did a budget and I have worked out £1000 a month would be a real achievement on a basic budget.
    Tight budget for a few months I think to see if I can do this.
  • I am with everybody on the savings front and found ReportInvestor's post very useful and checked out the websites for the regular savers. Couldn't find the 10% Barclays one on their website (could be my poor navigation).
    Is it on the website???

    Also found that HSBC said you have to have your salary paid into the current account before you could open a regular saver. I have a current account but have my salary paid elsewhere. Is there a way round this?

    Thanks
  • WannoWanno Forumite
    130 Posts
    Who ever invented Time and a half was a genius. Ive decided to work overtime this weekend. Thats an extra £400 or so to add to the pot. I went a bit mad in boots last night so it's needed.
  • Mr._H_2Mr._H_2 Forumite
    415 Posts
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    zag2me wrote:
    so next month I will finally be looking to pay some significant amount off my student loan.

    Hi Zag, as iamsam said, don't pay of your student loan any faster than you have to! If you are feeling like paying off extra amounts, put the money into a high-interest savings account (5% +) instead, and you'll be better off.
  • SystemSystem Forumite, Community Admin
    177.9K Posts
    10,000 Posts Name Dropper
    Community Admin
    Saved £20 on groceries yesterday.
  • Hi Wanno - I used to save £2000 per month into ING Direct and now switched that all into ICESAVE.
  • Hi all

    I save £200 a month into an equity ISA with Hargreaves Lansdown and £100 a month in a cash ISA, which I've just moved from Smile at 4.75% to the Yorkshire BS at 5.15%.

    As of this morning I have £2025.38 in the equity ISA and £1151.27 in the cash ISA. This is all from retirement income and only started at the beginning of this tax year.

    What am I saving for at my age? Well, we just do not know what we may need if we live another 20 years until we're 91, do we? We know we'll need to replace the car probably this time next year, there are holidays, we like nice things - and it's still possible to save! Great, isn't it?

    Margaret
    [FONT=Times New Roman, serif]Æ[/FONT]r ic wisdom funde, [FONT=Times New Roman, serif]æ[/FONT]r wear[FONT=Times New Roman, serif]ð[/FONT] ic eald.
    Before I found wisdom, I became old.
  • iamsamiamsam Forumite
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    I don't get paid overtime :-( also went a bit crazy in ASDA last night - they had a 3 crates of beer for £24 deal. Ever having an eye for a bargain (and a penchant for beer), I bought a load! I reasoned it's cheaper than popping to Threshers now and again (but not cheaper than not drinking so much beer...).
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