How much can you save?

Lokolo

Well this month has been bad. Very very bad.

My first paypacket from first working job and I am literally spending like anything. I have spent £200+ on entertainment (i.e. going out getting plastered), I had to buy a new electric shaver cause my other one was rubbish which is £80 (I refused to buy the cheap crap make one).

However I recieved house deposit back which I had completely forgot about. Overall I managed to save an extra £100 than originally planned for which is ok, so thats in ISA. I am tempted to put in an extra £50 to round it upto £8k, but its only a week before I put money into it anyway.

Next paypacket is next Thursday, which is a lot less than the first (I got a bonus in the first month), so have to make sure I calm it on the spending spree if I want to get my savings target.

McSaver

* Savings Update - July 2009 *

I would say this month has been an average month for me - not a lot happened and I didnt do very much which meant saving roughly £700 this month. Nothing to report besides had a weeks holiday from work which was pretty much wasted.

Only need £2,000 in 5 months of whats left of this year to meet the target!

The Percentage Has Been Updated

Rose_Crow

Not good. Sorry I've not posted for a while. Bit gutted because as of the beginning of September I'm on reduced hours at work (4 days a week) with the associated pay cut (around £250 a month). This is going to really hurt my house deposit savings, since I was just managing to save £300 a month. I'm also going to be working from home, so I suppose this will save me about 150 miles a month to the office and back, so that's something, but that only saves half a tank of fuel a month (about £25). Not entirely sure what to do, but I do have a spare day, so there must be some was of making money.

I work in a drawing office doing office layouts, healthcare etc. Also doing an HNC in Building Studies (Building Surveying). Luckily my college course will still go ahead and the boss is paying for it thankfully! Any ideas greatly appreciated!

CaroleM_3

Emily926 wrote: »

Welcome CaroleM!

It was the same for me, I had been visiting for a while and was inspired by this post. I was fed up of being in a position to save and not actually saving anything. Reading this thread gave me the motivation and inspiration to start and now i'm almost half way to my target

Hi Emily, thanks for the warm welcome
I saw your total in your sig, will catch you up soon!

End of month summary: £82.32 added to savings (51.4% of year end target), rubbish month due to buying holiday currency, nevermind tho, on wards and upwards

Hope you all had a better month than me savings wise

dippykitty

It's not been a particularly good month for me. As I posted earlier in the month, I took £4k from my ISA to lend to my parents, which has obviously rather reduced my savings! I went back down to £8k in temporarily (£3k in the ISA) and have got back to just over £8.5k this month (£3.5k in the ISA now). I'll be getting all of the £4k back but not any time soon unfortunately as they're going to pay it back on a monthly basis with a bit of interest on top. If I fill up my ISA before April, I'll be back to £10k though, which isn't too bad.

shorelines

I've been a long time follower of this thread after years of wasting my money and not having anything to show for it. My target is £14K for this year and I'm just over halfway :T

It's hard though as I've recently discovered the joys of shopping and fitting in additional things like holidays is quite hard. My margin for what I save out of my wages is quite high so if I only achieve £13.5K, I'll be quite happy as it's more savings than I've ever had before.

hostie1985

hi everyone,

hope it is ok for me to join in, have read most of the thread (over 160 pages!!!) and it is amazing how quickly people can save so much!

i have a target of £15k, would like to reach this by jan/feb time. my wages are different every month. i am busier in the summer than the winter (i'm an air hostess/ trolley dollie, waitress in the sky etc - whatever anyone wants to call it) :rotfl:

i have over £10k already and have just under £2.5k in an emergency fund/house buying fees - hoping to not use this thou. by tomorrow im hoping to get over the £11k mark - which would be fantastic for me! i think a well earned drink is in order soon! :beer:

just want to say that everyone is doing so well - and just keep saving! (i find it really hard to keep myself motivated thou, anyone else the same?)

hostie

xx

dippykitty

hostie1985 wrote: »

hi everyone,

hope it is ok for me to join in, have read most of the thread (over 160 pages!!!) and it is amazing how quickly people can save so much!

i have a target of £15k, would like to reach this by jan/feb time. my wages are different every month. i am busier in the summer than the winter (i'm an air hostess/ trolley dollie, waitress in the sky etc - whatever anyone wants to call it) :rotfl:

i have over £10k already and have just under £2.5k in an emergency fund/house buying fees - hoping to not use this thou. by tomorrow im hoping to get over the £11k mark - which would be fantastic for me! i think a well earned drink is in order soon! :beer:

just want to say that everyone is doing so well - and just keep saving! (i find it really hard to keep myself motivated thou, anyone else the same?)

hostie

xx

Welcome!

It sounds like you're doing really well already so keep up the great work! Re motivation, I must admit that I've been struggling a bit on that front lately especially as my earnings tend to fluctuate a lot (I'm freelance) and I can't put much in some months. One of the things I love about this thread though is that we can get motivation from the other posters to spur us on if we're flagging a bit or feeling demoralised.

MONEYME

14,063: Isa
12,000: Newcastle BS Bond
800: Easy access

26,863: Total
13,137: required (30june 2011)
£571.17/mth: required

Current aims:I have about £550 on a 0% credit card that I'm going to pay off over the next 6 months which could impact savings.Despite the big cc spend I had a pretty good month.Of the £571.17 I need per month to reach my target at least £70 should come in interest which means my personal monthly target is c. £500.Good luck everyone!

Vixstar

MoneyMe - like the way you've worked out how much you need to save a month to reach your target in time. Still waiting for payday tomorrow before transferring money to my saving but I know I will have saved £750 this month. Pretty happy with that. Not sure how next month'll work out as I have 3 weeks off work - going to my mum's for a week, then on holiday (trying to offset the cost of the holiday with "free" cash etc so only spending money to find) for a week - and can't figure out whether I'll spend more or less than normal.