How much can you save?

Connologs

I am just under £8400 now.

I'm planning to transfer my ISA to a fixed rate one (not sure whether to go one year at 2.6% or two years at 3.5% - any ideas?)

I will then save money in my savings account until April and then open a new variable ISA. Although, at the moment it is better to have my money in the savings account rather than the ISA because the ISA is 2% and the savings account is 2.52% (net).

We'll have to see.

Saved just over 40% of my 20K target by 2012.

BabyBetty

[cashbackproblems]To get 300k you need to be earning a hell of alot and aged 22yr and the kind of person who has kids young im guessing your working at mcdonalds

Hi,

I really enjoy reading this forum but really took offense to Cashbackproblems comments.

The poster was asking for advice not judgement!!!

We don't know what their work/financial situation is so it is not fair to generalise.

Indyflower; as another poster suggested sit down with an independent financial adviser/mortgage broker who would be able to give you the advice that you need.

BB

tinkerbel

i meant that everyone has to be realistic about their goals, and wanting a £300,000 house and not having started saving yet, it will probably take a while to get a large enough deposit, especially with a baby

rictus123

I meant about paying yourself back, sorry i wasnt clear on that

minidannii

rictus123 wrote: »

What do you mean tinkerbel by the second point in your post?

Iv now got a big (fake)beer can piggy bank at my gfs house, everytime im there im going to put in all my change + at least 1 note. Unless im really tight at the time itl just be change. Wont empty it/open it/count it until its either full or its the end of 2010 which ever comes first! Hoping to make something of it and have it filled by summer! The money will get banked, although im not sure how much money it will manage to hold, its not that big really but im sure it can hold a lot of notes Started it off with a £10 note and only had 30p change in my wallet but hey its a start and do that at least once, sometimes twice a week il be laughing when it comes to collection.

see when i was you're age (omg i sound old saying that but am only a few years older than you) anyway, i used to prefer paying with notes, coins just so wasn't fun, so i was always ending up with loads of coins.

It wasn't untill last year when i started saving, i thought if i pay with debit card am paying for what i am buying, and won't get any silly change back, also i joined save the change with my bank, so your bank would round to the nearest pound and transfer that to your savings account, thats how i saved so much

LucyTheDwarf

I temporarily gave up money saving. It was very bad of me, but I just can't resist a January (or December) sale. Let's just say that I have overspent on my January budget by £1100 (and it's only the 9th!). I am now setting myself a challenge: I hope to spend no more in a single transaction than £10 from now until the end of February.

I'd better keep off online shopping websites. Went online last night and spent £200 in sales (River Island 50% extra off all sale items - I got £130 worth of purchases for £25!!!). The rest was QVC jewellery. All essentials I promise!

tinkerbel

oh sorry rictus, I meant that the lady in the bank told me that the amount I put in esterday would be it, and I couldnt add to it at all, even though there is still some of this tax year left. I had wanted to put the £500 and then add to it gradually, ie when I get my loan etc, but I had to put the full £3600, or basically lose some of my allowance. So I borrowed the money from my like, "childhood savings" that my mum looks after and is made up of dividends and who knows what, so I now have to work at paying back that account, so like paying myself back, if you get me? sorry if I confused you!

CatCat27

Hi all,

I'm new here but have been reading the forum for a while and just wanted to say that you have all been so inspirational! I've moved back in with my parents (the shame) - even though they still charge me rent and bills etc - to try and save some money. I'm on quite a low wage (below the average) and living in London so despite working for 2.5 years after uni I haven't managed to save anything at all!:rolleyes: But I'm detemined that it's all going to change in 2010. My goals are to save £5,000 by the end of the year and to be able to run a 10 km by May (from nothing!!). Thanks again to everyone for helping me to get going

tara747

LucyTheDwarf - LOL! We believe you that they were essentials! :rotfl:

tara747

p.s. I still can't get access to one of my bank accounts online (grrrr) so that's why I haven't updated my total for 2009, but I think it will be £30,000. I will confirm ASAP!!!