How much can you save?

Lokolo

Yeh I think the others haven't been but working from 18. However I plan to save £15k by the time I am 22.

JimLad

Lokolo wrote: »

Yeh I think the others haven't been but working from 18. However I plan to save £15k by the time I am 22.

you guys make me feel poor

Lokolo

JimLad wrote: »

you guys make me feel poor

Yeh but to be fair my grandparents pay for accomondation + living expenses so I usually save my student loan + little bits from parttime work etc. Plus I am on placement next year so I can save loads from that.

dazcouz

JimLad wrote: »

Wow both of you have so much saved! how have you done it!? Going to uni used all my money

I didn't go to Uni, I only have A-levels and got a full time job since I was 18. However, in hindsight going to Uni might of been a better idea if I want to get a better career.

JimLad

dazcouz wrote: »

I didn't go to Uni, I only have A-levels and got a full time job since I was 18. However, in hindsight going to Uni might of been a better idea if I want to get a better career.

But you now have a 3 year headstart on me! Even earning only 15k thats 45k!

Crap_with_money.com

JimLad wrote: »

you guys make me feel poor

It's all relative jimlad - I personally think £6.5k in your early 20's shouldn't be sneezed at! Of course there were always probably ways you could've made or saved more - but then you wouldn't have had the experiences you did along the way.

Sometimes I regret the fact that I'm 25 and don't have a penny saved so far, and instead got myself into a fair bit of debt - but - I had an absolute ball along the way - and did a lot of things which I'll never forget, and which even if I had the opportunity to go back and do when I was older, probably wouldn't appreciate half as much as I did at the time! (nothing too outrageous mind - but although I would say 2 weeks spent clubbing in Magaluf when I was 19 was probably the best holiday I've ever had - going on that type of holiday now would be my idea of hell!!)

Anyway - that's my philosophy for the day over with! I think you should be proud of what you have saved, even if it's not as much as some others!

xx

Lokolo

I went to Malia couple of years back, was the holiday before uni. I hated it. Was not my cup of tea. Yeh I like to go out and have a drink etc. but I don't want to get paralectic for days on end! Meh, wasn't that great. I enjoyed the sun and the beach though

Inflation down to 3.1% so at this rate, in 3 months time student loans rate will around 1%! WOOP!

McSaver

McSaver wrote: »

Do you realise how much I hate being single!!! Even telling them the bank balance doesnt interest them.

Well every 6 months that will pass staying single means I would have an extra £5,000 in the bank. Some girl out there is in for a suprise when they get to know me... They think I have nothing in the bank and I have thousands!

-£7.36 for ebay fees!

irishwench69

thriftylass wrote: »

In the guardian today(online) was an interesting link to a site (Economic and Social Research Council) that very easily calculates where you fall in terms of income with regard to the UK population.

thriftylass wrote: »

http://www.ifs.org.uk/wheredoyoufitin/

Someone on another thread just posted that, thought you might be interested too to try it out

I know that this was from the end of last year, but I've just seen it and it looked quite interesting!

According to this, my OH and I (just the 2 of us, if you don't include our pup ) are in the 10th decile group!


I did notice this though:

to maintain a reasonable scale, it has been necessary to truncate the distribution at incomes above £1,100 per week. Around 4%, or 2.3 million individuals, have incomes higher than this, after adjusting for the size and composition of their households.

Still, I was quite suprised!


My partner and I have regular savings and we have cash ISAs. However, with pensions and student loans also, there's not a load to whack into other savings accounts. Feel a bit inadequate compared to some others on here!


A fair amount of money is going on our house at the minute (new kitchen etc), so hopefuly we'll be able to whack more into savings soon. At least we're doing the work ourselves mostly, so keeping down on costs to an extent.........

Thought I'd add some %'s of where my money is going (just my salary, all %'s of my salary after deductions apart from student loan, as this is also given below!)

Regular saving: 18%
Pension (excluding tax relief and employer contributions): 12%
Student loan: 10%
Lump sum (for ISA or other savings once this is full for year): 9%


IW x

gelato_cat

I was at uni for four years But I didn't p1ss any money up the wall while I was there.

Suze

Lokolo wrote: »

Yeh I think the others haven't been but working from 18. However I plan to save £15k by the time I am 22.