How much can you save?

tara747

Driving_Soon wrote: »

I'm at college currently, Just finished first year of 2. I manage to get jobs here and there, helping out a mate bulding like once a month, but it's nothing major. Sorry to confuse you haha! I confuse alot of people!

OMG you've saved that much while at college??? Wow. Wow.

I take my hat off to you my friend, well done.

dippykitty

I've transferred £30 to my ISA today. It's not much but it's helping it creep towards £4k, which is the revised goal by the end of the year. Everyone else seems to be doing so well with their savings at the moment - keep up the good work guys/girls!

Driving_Soon

dippykitty wrote: »

You're doing great, especially if you're not in full-time employment! £20k doesn't sound like it's too far off (only just over £1k away really). Should be sometime soon hopefully!

Thank you!

tara747 wrote: »

OMG you've saved that much while at college??? Wow. Wow.

I take my hat off to you my friend, well done.

Haha, It's not as good as it sounds .. I was working full time just under 2 years after I left school, so that's where alot of it come from

bakerdvd

Having seen on other boards the impact of encouragement it would be great to have a group of savers who encouraged each other.

bendix

tara747 wrote: »

Your posts always make me feel so inadequate :rotfl:

Seriously, though, well done on the savings. :T

Don't feel that. I suspect I'm a lot older than you. I'm in my peak earning years and have to make hay while the sunshines if my plans to retire by 50 bare fruit.

For the record, I live like a churchmouse . . . . it's all save save save for me right now ;-)

The most important thing is to get into the saving habit when you're young. It sticks with you forever.

tara747

bendix wrote: »

Don't feel that. I suspect I'm a lot older than you. I'm in my peak earning years and have to make hay while the sunshines if my plans to retire by 50 bare fruit.

For the record, I live like a churchmouse . . . . it's all save save save for me right now ;-)

The most important thing is to get into the saving habit when you're young. It sticks with you forever.

Thanks for the kind words. I am 30 though, probably not that much younger than you!! Even if I spent nothing I couldn't save £8k a month. :rotfl:

However, there is good promotion potential in my line of work, I've been promoted already in the last 12 months and could be earning over £45k in the next 3-4 years if things go as planned. OH is in roughly the same boat although different line of work. We will be squirrelling away as much as poss to retire v. early and live the high life!

tara747

What do you do for a living, bendix? Sorry if I'm being nosey, you don't have to answer.

notindebt

Hi guys

New to the forum so thought I'd share my story . I'm in my mid 20s and working full time. I was saving up for a house deposit and managed to save 70.5K. This was before I started playing around with the idea of buying a new car. Two weeks on and I have ended up buying something that has cost me an arm and a leg (personal contract purchase £9k deposit, £190 monthly payments for 36 months + insurance, and final balloon payment of £10K).

I was just so blinded by the idea of owning something nice that I completely missed the bigger picture. I do love the car and enjoy driving it but ultimately this has been a massive waste once depreciation is taken into account.

My other half and myself still manage to save roughly £1000-1200 a month which doesn't seem enough anymore.

So that's basically it. / rant.

rictus123

Anyone else feeling like they cant wait for the next few months to be over with? just so i can get some savings behind me and debt free hopefully.

Lokolo

notindebt wrote: »

Hi guys

New to the forum so thought I'd share my story . I'm in my mid 20s and working full time. I was saving up for a house deposit and managed to save 70.5K. This was before I started playing around with the idea of buying a new car. Two weeks on and I have ended up buying something that has cost me an arm and a leg (personal contract purchase £9k deposit, £190 monthly payments for 36 months + insurance, and final balloon payment of £10K).

I was just so blinded by the idea of owning something nice that I completely missed the bigger picture. I do love the car and enjoy driving it but ultimately this has been a massive waste once depreciation is taken into account.

My other half and myself still manage to save roughly £1000-1200 a month which doesn't seem enough anymore.

So that's basically it. / rant.

You had £70.5k saved and mid twenties??? Thats well good.

My big aim is to save £70-£80k but the time I am 25/26. The sooner the better really. But it means I need to save a lot once I have graduated (going on £13-14k a year URGH).

Anyone else feeling like they cant wait for the next few months to be over with? just so i can get some savings behind me and debt free hopefully.

Yes! Once it comes end of the year I will be haapppppy.