How much can you save?

Saver-Rob

Nice thread.

I am in a similar position. 22 years old and living at home and saving with my girlfriend for our first place. We keep our money seperate. I shall have around £40,000 savings by the end of this month.

Currently £3600 in a fixed term 1 year ISA 6.25% and the rest is in an Internet Saver account. Also obviously have a current account for pay, direct debits etc.

Should have over £50,000 by summer next year. :-)

Lokolo

Thats good. £50k for yourself. What about your OH? Thats the problem I'm going to have I think. If I get the graduate job I want (oooo I have something on my placement!) then by 25 I should have around £60k saved up. But OH? Most probably nothing lol. So not sure how we would go about it (I know whats mine is hers etc.) as I want to also have another £100k by 30. (I want to run my own business ideally)

I rang IBM today chasing after my placement. Basically I recieved an email 3 weeks ago saying I passed the interview day stage and they have matched my profile upto the job at X (where I wanted to be in the position I wanted) and that I would hear from them soon. 3 weeks had been, which is why I then rang. Basically they said that they had contacted (is that a word?) the manager in charge of placements at that location with my profile and one other persons profile and they were waiting to hear from him. The lady on the phone also said she would contact him again to get his !!!! into gear :rotfl:

But not sure if its between us 2 or if we are just the chosen ones so far!! but getting all nervy now!!

Good news on my savings though. I predicted £50 earnings (ha student life eh) but I know I will have at least £100. Also my housemates owe me more in bills this month, more than I predicted as some didn't pay last month, so I will be getting an extra £60 than predicted. I have also done my shopping for rest of term (only 1 week), £5 below budgetted. So overall so far makes up for last months fiasco! (I went overbudget by £100! damn petrol)

Saver-Rob

Petrol is a rip off like everything! I keep a log in the car of how much I am spending - more out of interest than anything. Its not like I can really cut back. Going to work is going to work. Speculate to accumilate?

As for the girlfriend, she has another £10,000 in savings and is currently at university but that is being paid for through her working though. Ideally after 3 years she wont have touched the savings though she wont have added to it either I expect. There wont be any debt at the end as the course is paid for by the Government :-)

So I guess that would be £60,000 between us by next year. We dont live in a big town or city and house prices here arent TOO bad compared to some places, but still 'overpriced' compared to others.

The thought of spending my life savings is scary!!!!!!!!!!!!!!!!!

Lokolo

Thats pretty good. £60k. 1 bedroom or 2? Suppose you could still get a flat for £120k in some places.

Yeh well I didn't need the petrol. I went home twice (121 miles for 1 way trip - so around 500 miles in a month...) and I went to football once which was an hours drive there, then an hours back. So... yeh.. was my own fault really lol.

Baldur

Spam by Jason08 reported

Saver-Rob

Lokolo wrote: »

Thats pretty good. £60k. 1 bedroom or 2? Suppose you could still get a flat for £120k in some places.

Yeh well I didn't need the petrol. I went home twice (121 miles for 1 way trip - so around 500 miles in a month...) and I went to football once which was an hours drive there, then an hours back. So... yeh.. was my own fault really lol.

You obviously come from an area with high prices! You can get a terraced house here for £120,000 - often even a semi. I'd like to go as far as possible onto the ladder so would be looking at a semi, 3 bedrooms, driveway etc. A garden is quite important to me too. Could easily get all this for £150,000 ish here. :T

gelato_cat

Do they do anything about spam? I've reported abuse before and nothing's been done.

Suze

Baldur wrote: »

Spam by Jason08 reported

Lokolo

Saver-Rob wrote: »

You obviously come from an area with high prices! You can get a terraced house here for £120,000 - often even a semi. I'd like to go as far as possible onto the ladder so would be looking at a semi, 3 bedrooms, driveway etc. A garden is quite important to me too. Could easily get all this for £150,000 ish here. :T

Wheres that? Yeh I live in Bucks, the house my mum bought was worth £60k in 95 (to be fair though, it had no heating and missing windows at the time). Houses along the road, same type as ours, were going for around £200-£300k. 3 bedrooms town house (3 story). That was around a year ago though.

I guess prices really do vary though. Wonder what they be like in 5 years time. Hopefully low

CompletelyLost

Hi all,

I've never posted in this thread before, but I am an avid read and saver. To the point of obsession a lot of the time... parting with £1 is even becoming problematic for me, hahh :S Still, I can't believe how much some of you have - I thought I was doing well but clearly not!

Anyway! I'm 21, not working but I'm at college after two years of being a house hermit extraordinaire, and *hopefully* I'll be working by the middle of next year. I'm hoping to save £30K for a large deposit on a flat (I'm single so will be buying on my lonesome... nice 2 or 3 bed flats around here have fallen to around £70-80K at the moment... and hopefully will continue to fall... so not bad compared to the rest of the country).

Nothing much else to add really Just thought I'd come out of the woodwork and say 'hello'.

Lokolo

Hehe thats cool.

How do you do the make £1000 in 100 days? How to you make the money?