How much can you save?

JimLad

LucyTheDwarf wrote: »

Amazingly, I got a response today! I couldn't believe it when I checked my emails that there was one from them.

"HI MS ********

Sorryw e sent these gloves out to you in the end but we have just seen they were not delivered they went via recordered delivery and I can see you have not signed for them and the post office took time to reply to our inqiry do you still wan tthe gloves if not we will refund them imediatly.

please advice"

I wont get my hopes up too high... but I have requested that they send a refund. I give them til Monday for it to show in my account.

wow very bad grammar and spelling in that email from them!

Lokolo

JimLad wrote: »

wow very bad grammar and spelling in that email from them!

Um yes.... my thoughts exactly!

LucyTheDwarf

Hence I'm not getting my hopes up too high!

Perhaps they didn't understand my original email. Had to look up all the words, which took time.

Oh, I'm cruel.

Masomnia

Oh well at least things are moving forward! Hope it gets sorted soon.

Christie22

Hey guys I have read this whole thread!

Can I join!?

Im looking to save £10,500k by Dec!

I managed to save £4300 however I didnt take Martins advice and I had 2 loans which I continued to pay monthly... the other day I sat and worked out the interest I would be paying on these... if I used my savings to pay off my debts I saved over £700! So I took the plunge and paid them off!
I have no savings left but no loans! So my outgoings now are only £400 a month now instead of £800! So as from Payday im starting my savings again!
Looking to have £10,500 by Dec!

Wish me luck

Masomnia

Hi Christie, well done on the loans! £700?! :j

Welcome to the challenge, and good luck

Masomnia

Markalun, when did you take out the loans?

I think your loan may be as low as 2% now, Base rate + 1, assuming the banks cut their own rates, which can be beaten. The last RPI inflation figure was 0.9%, so I can't see it going much higher by March when it's next calculated so from September it's going to be pretty low.

The other question is how secure is your job, how long could you live off your savings? If your income dropped below £15k you stop paying the loan, so instead of paying the money you may be better off keeping it in case you need it.

I do see where you're coming from though, £80pm would be nice! And that debt-free feeling. It's up to you really, I think the benefits are psychological more than anything.

paulboy83

I paid off my student loan a few years back (admittedly only 5k as I only studied for a year last time) and for me it was a bit of a mental thing rather than worrying about the interest rate, I felt a lot better knowing it was gone. If you can afford it and you are earning less than you are paying then why not do it, you will have to some time afterall!

JimLad

With student loans, you have to think...Will you be getting a mortgage, buying a car, or making any other large purchases in the future. If you pay off your loan now with your savings, you may have to take out a more expensive loan to pay for these things in the future.

Pay day today, and with careful budgeting (and a few pending ebay sales) i think i can save £1000, which i have transfered to my savings. I now have £120 + any ebay/amazon sales to live on until the 10th of march! The only real expense i have is my fuel to and from work and the odd drink in the pub so im challenging myself not to go into my (free) overdraft before my next payday.

NPowerUser

Just purchased another £400 worth of Premium Bonds today.

Well ahead of 2010 EOY target but you never know what unexpected bill is just round the corner.

To savers everywhere, keep up the good work.