How much can you save?

Phoenix79_2

Current savings:

£3000 - West Brom BS ISA (5.40%)
£1950 - HSBC Shareave options (looking at 40% profit when they mature)
£337 - Sitting in spare account (will open savings account at weekend)

Want £10k-£12k by this time next year

Angelselondon

Hello,

I'd like to join this club, at the moment I am saving £650 per month in my ICICI account then max my isa every April and am in the sharesave scheme at work. Love the compound intrest thing. The trouble is the more I save the more addictive it becomes.

I stopped playing the lottery and put my weekly lottery spend in a jar, when I had £100 I purchased premium bonds, that way I still get the buzz of a draw, without the dent in my pocket.

I now try to live under £50 a week and have got budgeting down to a tee, I want to save more and have nothing to cut back on, looking for creative ways of making a more money and get my money to work for me. I'm a bit nervous of stocks and shares. I'm saving to purchase my first buy to let property

Any tips?

chelseablue

JAMIEDODGER wrote:

thats terrific chelseablue!! how do you manage to save so much?

Live with parents!

Also I include OH's savings with mine as it goes into the one account. As he only saved £150 in December :eek: most of the December total is my savings!

System

I must admit i am doing really well this month which is suprising because of christmas. Havent worked out exactly how much yet but i am expecting it to be around £200. Most suprisingly i will be able to pay off all of christmas when my credit card statement comes through in a week or two and i should be able to claim a cashback cheque because i have spent so much!

I have also asked MrJudi if he will put his fuel through my credit card too which means i will get extra cashback on about £200 a month.

Will update the totalls in a day or two.

Wanno

Grr
My overtime wasn't paid in with this months pay. Most annoyed as now I will really have to scrimp to live.
Oh well I suppose that Januarys pay packet will be bigger becuase of it!

JAMIEDODGER

wanno - how annoying!!!!!!!

well, i have put it on my thread on dfw board, but with a few phone calls this morning, i have managed to save 380 quid on my budget this year, which means i should be able to put that away to cover next years car expenses (mot/servicing) so that means i will be able to save money allocated to pay that towards my loan pay off pot:) ultimately this all means i will be df sooner and able to save like the rest of you guys:):):T

im really excited now:)

save-a-lot

Hi

I intend to max out 2 ISAs in April, the money is already waiting to go in, currently have £6000 in a high interest Birmingham Midshires account (£3K for me and £3K for OH)

Will carry on paying £75/month into SAYE scheme with work, that matures in December 07, by then I will have paid in £4500 over 5 years into that and I hope to make between 80-100% profit (based on the current share price). Then in December 07 look for a home for this money, I'll use MSE to see what is the best product at the time.

Carry on saving saver stamps with Morrison's for Xmas 07, the intention for 07 is to have enough stamps to pay for groceries for the whole of December. Also, have transferred £100 today into my linked NatWest savings account as a starter, then in the New Year £25/month transferred from my current account into savings for Xmas 07.

Wanting to dabble with matched betting and see how much I can make.

I suppose our future goal is to move to a bigger house, as our current house is rapidly getting smaller and smaller (an excess of Christmas presents this year has made it feel even smaller!). So the goal is to have a big a pot of money so we can make the move to a bigger place less stretching.

save-a-lot

save-a-lot wrote:

Carry on saving saver stamps with Morrison's for Xmas 07, the intention for 07 is to have enough stamps to pay for groceries for the whole of December.

I know there are better ways of saving for Christmas, but at least by buying saver stamps, once they are bought they are allocated to buying the shopping. If saved elsewhere as cash there is always the temptation to dip into the account.

JAMIEDODGER

save-a-lot

i agree, sometimes the best financial way to do things isnt always the best way:) i like to save stamps for xmas too, but also (see my signature) i like to save up in otherways:)

save-a-lot

I do shop online quite often and I suppose in 2007 I will make use of cashback sites. So, I will start to look at the alternative ways of earning/saving more money too