How much can you save?

zag2me

Wahoo gold medal already

gelato_cat

How about doing it as a percentage of income? I mean, I can get to platinum in a couple of months (and it's not like I'm paid that highly) but for some people it will take longer than a year...

Suze

Angelselondon wrote:

Ok, we’ve talked a lot about this over a few threads. I think here are some realistic goals which we could all achieve.

If you want to compete in this year’s Olympic Challenge, please copy and paste with the appropriate amendments to your signature:

HOW MUCH CAN YOU SAVE: OLYMPIC CHALLENGE 2007

BRONZE £1,007.00
SLIVER £2,007.00
GOLD £3,007.00
PLATINUM £4,007.00 +

I’m training for my Bronze
I’ve got my Bronze and am now in training for my Sliver
I’ve got my Sliver and now I’m going for Gold
Forget Gold I’m hitting Platinum

Let me know what you think

Angelselondon

Suzey wrote:

How about doing it as a percentage of income? I mean, I can get to platinum in a couple of months (and it's not like I'm paid that highly) but for some people it will take longer than a year...

Suze

Thank you Suze

Percentage wise what do you suggest?

Bronze 10%
Silver 25%
Gold 50%
Platinum 75%

and would this be the percentage on annual net income so that the percentages go up during the year?

I think this might work, it is tricky getting an even keel, hopefully we will get there in the end.

jamtart6

Angelselondon wrote:

Thank you Suze

Percentage wise what do you suggest?

Bronze 10%
Silver 25%
Gold 50%
Platinum 75%

and would this be the percentage on annual net income so that the percentages go up during the year?

I think this might work, it is tricky getting an even keel, hopefully we will get there in the end.

I like th % idea a lot! If I earnt £10000 a year (after tax) and saved £7500 i'd get my platinum right?

Angelselondon

jamtart6 wrote:

I like th % idea a lot! If I earnt £10000 a year (after tax) and saved £7500 i'd get my platinum right?

Yes that is how it should work. Do you think these are realistic goals?

moneysavingwannabe

Hi ,

Maybe we could do it monthly??

If you saved 50% of your take home pay in January you could have gold?

So you could get 12 gold medals in a year?

Might be a bit hard to keep track of tho?

jamtart6

Angelselondon wrote:

Yes that is how it should work. Do you think these are realistic goals?

i personally think they are really good goals.... i will update my sig!!!

savingforoz

I'm going for Gold - off to update my signature! Great idea!

jamtart6

I have such few outgoings at the moment that this should be possible for me (no house, no loans !) but if all goes well and i get a house, then maybe one should just go for gold!!

liverpoolcarl

Excellent idea... I am in...