How much can you save?

alohahawaii

dazcouz wrote: »

Hi all,
Just been paid this month (£1000) so that takes my savings up to £21,600. Still on target to reach £30,000 by the end of 2009. I might have to do a bit of wheeling and dealing on eBay to reach my target though. Good luck all:beer:

Aww lucky you! do you put all your wages into savings?
ive been put off ebay! i have loads to sell too!

slowlyfading

^^ why are you putting off? any specific reason? think of all the money you can make!

Lokolo

I would sell on ebay but I have nothing to sell

slowlyfading

Lokolo, i'm sure you do! Anything you dont want, get on there, you'd be surprised at what people are willing to buy! lol

alohahawaii

slowlyfading wrote: »

^^ why are you putting off? any specific reason? think of all the money you can make!

I think from past experience, people going mad when it doesnt arrive the next day! suppose the more time it spends in my house the lower the value will be. I have stuff with tags on!
Heard some people complaining that buyers have said they didnt recieve items and sellers have lost out..
maybe i should just bite the bullet and put stuff on there.

alohahawaii

slowlyfading wrote: »

Lokolo, i'm sure you do! Anything you dont want, get on there, you'd be surprised at what people are willing to buy! lol

I should just stop making excuses and put the stuff on there.
do you guys set time aside to do it?
I did sell loads a while back but not done it for so long.
i need to get taking photos.

slowlyfading

People say to do it so that all the items end on a sunday afternoon so i tend to do them all on turbolister, and then upload them all at once on sundays

rictus123

Hey guys, im new to the forum, just signed up but iv been a lurker and followed this thread for a while and now im joining in! Im 17(18 in the summer) And working full time. I left school and started working at 16 and did manage to save however getting through my test proved to take away all of these. 2 days after my test i crashed my 206(only 3rd party insurance and being the young driver i got the blame!:() This was in October and i then had an expensive xmas and was out alot. My insurance rose to £200 a month so iv just been getting by since then. However i just sold my car as im no longer willing to pay £2500 for a years insurance on such an old car. Right now my accounts are all sitting at 0. So will be starting from absolute nothing.

I'll have £350 coming in tomorrow from sale of car and then my wages(Every 2nd Friday) In a week tomorrow. Of this im owe my girlfriend £70. So £270 + my wages of just over £300 should mean im able have £ 570 on the third of April and wont have any outgoings. Hopefully by my next payday(the 17th) il manage to have kept at least £550. This will bring my balance upto £850. Spending £50 at the most for that fortnight will mean 5 weeks tomorrow on the 1st of May(payday) My balance should be at £1,110. I realise this is ambitious, trying not to spend a penny for so long but i really hope i can do it.

My income is £306 a fortnight, £612 a month.

Outgoings meant to be
£100 a month digs(dont have to pay them just now)
£35 a month phone bill
for my job im on block release for college(every 6 weeks or so go back for 2 weeks) Not back for another 6 weeks after tomorrow. For this i need some money for food but get a lift in and home for free.

Any advice thoughts and ideas would be nice please, sorry its so long!

rictus123

Ok i havnt just signed up i reacivated my account from Sept 07, thats how long iv been lurking for!

Lokolo

ok £306 every 2 weeks totals about £8k a year. So you are a taxpayer. Therefore first things first are ISAs.

You can save £3,600 every tax year (so from April 6th to April 5th the following year), and that means any interest you earn on the amount will be tax free. In any other savings account you will pay 20% tax on the interest.