How much can you save?

FirstTimeSaver_2

Hi Lokolo

Thanks for the link. I'm gonna get straight on it! :j

I think you're right about the food. Me and the OH buy our shopping seperately so might be able to save some cash there if we bulk buy together.

I guess any amount that I save is better than nothing, which I have at the moment!!

mintedmatty

£3000 in my regular saver! it now matures at the end of the month with the interest, ive already got my mate at HSBC to send me out the paperwork for a new one so I can sign and return the documents so i can get it set up on the same day as my existing one matures?

£3,000 ......it feels really good tbh, the main point for me is that because the money is paid in on the same day i get paid? ive never really missed the money, to me its an excellent way to save!

dippykitty

I've just had some work payments come through so once they've cleared in my bank account, I should be able to transfer another £175 to the ISA. I'll update with the ISA's new total once those payments are actually in though.

welshmoneylover

FirstTimeSaver wrote: »

Hiya


I've just one question though, how on earth do you manage to save so much each month?

I save cos I'm a tightwad :j I don't buy sandwiches or owt like that, I make my own, don't buy newspapers etc and my biggest money saving tip =
I ask myself do I want it or need it?
If I want it I walk away, if I need it I look for cheaper elsewhere.

This was Martin's mantra when the credit crisis was going and its changed my spending habits considerably.

I just wish my children would pick up my habit

My only indulgence are my dogs :T

FirstTimeSaver_2

Cheers welshmoneylover,

I am a sucker for buying sandwiches and treats when I'm at work. I wake up too late to make any lunch in the morning and I'm too lazy at night

I like your money saving tip, think I'm gonna make that my mantra!

I'm all for buying myself little treats normally and it all adds up. I's been a real help joining these forums. Knowing there are other people in the same position as me really gives me support.

I think the amount people are saving up is fantastic, everyone should be giving themselves a big pat on the back :T

gallygirl

I love money :jI love saving money :jI got lots of it :j

Welshmoneylover, loving your signature :rotfl:

LucyTheDwarf

I love money too!

zag2me

FirstTimeSaver wrote: »

I've just one question though, how on earth do you manage to save so much each month? Once I've paid my mortgage, car and petrol costs and food for the month, I've barely 2 pennies to rub together!!! Any advice or tips greatly appreciated.

Easy

I pay all my bills on the 1st day of the month.
I pay in a standing order of around £500 to my savings the day I get paid.
I also pay in £75 to a buy fund and £150 to a holiday account

Anything else left in my account is used for the month but it rarely goes over £200, I just use it for socialising or my lunch money. Anything I want I buy out of my buy fund account. some months I wait and save a bit so I can buy something big. Holidays are all paid for out of the holiday account.

Once you separate your money, it becomes very easy to manage and save. I've been doing this for around 7 years now growing the amount each month a little. Its saved me around 45k If I add it all up

zag2me

Forgot to say, I started saving £30 a month so you don't have to go all in right away. Just build it up as you go along.

FirstTimeSaver_2

Hi zag2me

Thanks for the tips. I think I might start up seperate bank accounts. Reading through the threads it seems a lot of people do their savings by setting up a standing order at the start of the month so they don't miss it.

I was gonna see what money I had left over at the end of the month and save that, but don't think I'll have any left!

I started a pension for the first time with my work last year and I thought I would miss the money each month (and I really did in the beginning!) but now I don't even think of it as my money to spend.