How much can you save?

miss_keep_counting

Hiya, thought I'd pop in and say hi!

I currently have just under 25k saved my goal is to save £750 a month to save 9k in 12 months and hopefully with interest get to 35K feb 2010!

I've started making some really big cut backs and lifestyle changes to hopefully mean I can afford to save well, and I've also started saving my pennys change to treat myself when all this savings becomes too much

I'm finding it hard to work out where to keep my money though... I have 3.7Kish in an ISA and the rest in a 3.6% Alliance and Leicester account. I'm going to set up an abbey fixed £250 monthly saver, but once I've used up next years ISA allowance I'm not sure what to do with the 18K I'll have left. Should I find a years fixed rate account??

Is it expected interest rates will drop further??

Rose_Crow

Well done everyone

Got the car back after being repaired - £585! :eek: That's wiped out my 'car insurance / breakdown fund' so that needs to be replenished by April, when my car insurance is due. I've been taking advantage of the Wink Bingo promotion of a free £15 play in order to try to win some money for the fund You have to deposit £20 in order to withdraw any winnings so it's only worth it if you win over £20.

Currently I've won £93 - £20 deposit = £73 :j That's a combination of bingo, slots and scratchcards. Obviously when the bonus money is gone I won't be depositing any more

breenie

I basically have between £250 and £350 to start to put away each month. I am now looking to do this for the next 18-24 months until the time becomes right to take the plunge and and use it all as part of a deposit towards a house.

So what would you advise to do?

Stocks & Shares ISA or just simply a fixed interest savings account? Something else?

Help appreciated

mintedmatty

Payday yest. purchased £150 premium bonds today, hope to do the same at least every month. Payday and rent day tomorrow aswell, Credit card paid off, only 2 loan repayments left over! things are looking up at last!

black_taxi_2

i think two years--is way too short/risky a time period for stocks/shares

savings rates at moment are shocking

here a good site to help you out

http://www.fsa.gov.uk/tables/model/model_cash_deposits.jsp?product=cash_deposits&route=fasttrack&trail_position=2

black_taxi_2

abbey do a --first home saver 5.5%

http://www.abbey.com/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210611105334&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateB2#1210611106348

mintedmatty

that abbey account looks a good account, im still getting 8.5% on my A+L account, so trying to fill that account up

Lokolo

Getting to the end of the month so overall review

- £70 over my budget, although I am owed £90 from housemate for bills, so next month when I get it I should be under budget
- Savngs, transferred Egg ISA -> 4.2% 1 year fixed with BShires (only sent off application today though eek). Should be able to transfer my Barclays ISA next month to 2 year fixed with Halifax
- I crashed my car :mad: nothing to mine but means I lose 2 years NCB if I don't pay off my insurance company, and if I do my budget out of the window

Overall: Ok, could be a lot better though

Rose_Crow

mintedmatty wrote: »

Payday yest. purchased £150 premium bonds today, hope to do the same at least every month. Payday and rent day tomorrow aswell, Credit card paid off, only 2 loan repayments left over! things are looking up at last!

Well done mintedmatty sounds like you've got a plan :-) I've just passed the £2k mark thanks to the cashback being paid on my cashback credit card

Payday tomorrow :dance:

I'm due a few 'extras' this month. As mentioned above I've just received £31 cashback on my CC. Also, whilst messing about with Wink Bingo I managed to win around £70 and it looks as though Quidco have got their act together and are paying me (£50-£80) Yay!

Crap_with_money.com

It's payday tomorrow!! :T Just got my payslip through, so I'm off to do some sums and figure out how much I can save this month! :rolleyes: :rolleyes: On a very positive note, I had an interview last week for a weekend job, and they phoned today to say I'd got it! :j :T So that'll bag me an extra few £'s to be saving! Although it doesn't start until 7th of March, so I've a while to wait yet 'til I can start counting the pennies! But at least it's in the pipeline!

xx