How much can you save?

dippykitty

My savings are now up to £12,000. I haven't been able to save much this month as I'm waiting to be paid (should be next week) but hopefully next month will be better!

Masomnia

I can't really update on savings, but my interest for my Student loan for February was a mere £16. Great news, as it means my interest from savings will be a little more than that, or should be, despite me having around half in savings of what my loan is. So that's nice

JimLad

Masomnia wrote: »

I can't really update on savings, but my interest for my Student loan for February was a mere £16. Great news, as it means my interest from savings will be a little more than that, or should be, despite me having around half in savings of what my loan is. So that's nice

How do you know what your interest from your student loan is? They only send me a statement every 6 months or something and the online thing just shows the balance...

Oh wait, do you make a note of the balance every month?

Vixstar

Can I join you? I'm saving towards a house deposit as I don't think the equity in my current one will go far. I currently have about £3700 saved and would like to set an initial target of £10000. I'm aiming to save about 40% of my monthly income eventually with a little help from the forum.

JimLad

Vixstar wrote: »

Can I join you? I'm saving towards a house deposit as I don't think the equity in my current one will go far. I currently have about £3700 saved and would like to set an initial target of £10000. I'm aiming to save about 40% of my monthly income eventually with a little help from the forum.

Sounds like a great idea, welcome to the club! But have you thought about paying extra off your mortgage instead? It might not be better, just a suggestion.

Lokolo

JimLad wrote: »

How do you know what your interest from your student loan is? They only send me a statement every 6 months or something and the online thing just shows the balance...

Oh wait, do you make a note of the balance every month?

I think you can view it online... (I think)

Yes you can. Student Loans Repayment (search in google)

I owe: £10,543.90

Jolly good! :rolleyes:

dippykitty

Vixstar wrote: »

Can I join you? I'm saving towards a house deposit as I don't think the equity in my current one will go far. I currently have about £3700 saved and would like to set an initial target of £10000. I'm aiming to save about 40% of my monthly income eventually with a little help from the forum.

Welcome to the thread! A lot of people here are also saving for house deposits so you'll be in good company

Vixstar

JimLad wrote: »

Sounds like a great idea, welcome to the club! But have you thought about paying extra off your mortgage instead? It might not be better, just a suggestion.

I have and I'm undecided about it. Am going to get my house valued and on the market at Easter and then will look at the figures. Think with house prices decreasing I would like to have a savings buffer and then overpay my mortgage but I do have to look into this a lot more.

JimLad

Lokolo wrote: »

I think you can view it online... (I think)

Yes you can. Student Loans Repayment (search in google)

I owe: £10,543.90

Jolly good! :rolleyes:

Just had a look at mine and its 14k I have put it in my sig although im not going to pay it off anymore than i have to.

dazcouz

Vixstar wrote: »

Can I join you? I'm saving towards a house deposit as I don't think the equity in my current one will go far. I currently have about £3700 saved and would like to set an initial target of £10000. I'm aiming to save about 40% of my monthly income eventually with a little help from the forum.

Welcome to the gang Vixstar, I'm saving for a house as well:D