How much can you save?

*Vikki*

Made some money selling a few bits and put it all in to my savings, so £200 put away, so £1700 now, was £1500. And upped my ISA goal to 5k, instead of 4.

LucyTheDwarf

zag2me wrote: »

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.

That's what I did. £30 for the first month, then £50, then £70, until I was saving £500 a month (that was hard). I did miss it, but I found being harsh on myself helped me learn to save. You only feel deprived for the first few months. Now I don't need to be so strict on myself to save money as it's become a way of life. I only transfer £250 to savings each month, yet I still save between £400-600 most months.

KONG

FirstTimeSaver wrote: »

Hiya

As you can tell from my name I have NEVER had any savings. I was a few grand in debt a copule of years ago but that was paid off.

Although I don't have any debts now I also don't have any savings

I'll be reaching the big 30 this year so it's spurred me on to want to start saving. I've been so inspired by reading all your posts.

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.

Would love to have £1000 saved by 31 December 2010 :j

Hello FTS and welcome to MSE

There are lots of way to get you start saveing money. I wont talk about the ISA etc, but just some other small tips for you to start saving.

Try to sell out of some of the things you got in your home that you dont use anymore fx. - Does'nt matter what it is and it does'nt matter if you only get £5, because if you look at the whole picture you could maybe get £100 - £150 to start with and that you could put in your savings.

I also got a big Coca-Cola bottle where I put all my small coins in it - Just like a piggy bank. For two months I took all my small coins and putted it in there, and no coin is to small I got around £100 - And if I diden't had me piggy bank the money would have been used on other things and never saved.

This is just some small saveing tips but if you do it in the long run, you could even get up to £1000

Good luck in saving money and see you around the site

Kong

FirstTimeSaver_2

Hiya Kong

Thanks for the post, everyone has been really helpful on here.

I think you're right about selling stuff. I have been a toiletries addict for many years now (my mum and boyfriend are always telling me off!), my bathroom looks like Boots or Superdrug

I feel quite sick when I think about all the money I've spent on the next new shampoo that will make my hair look fantastic (never works by the way )! So I might start selling these on e-bay, as yu say every little counts.

Liking the coke bottle idea too, I'm sure I've got an old choccie tin laying around from Xmas.

skaps

FirstTimeSaver wrote: »

Hiya Kong

Thanks for the post, everyone has been really helpful on here.

I think you're right about selling stuff. I have been a toiletries addict for many years now (my mum and boyfriend are always telling me off!), my bathroom looks like Boots or Superdrug

I feel quite sick when I think about all the money I've spent on the next new shampoo that will make my hair look fantastic (never works by the way )! So I might start selling these on e-bay, as yu say every little counts.

Liking the coke bottle idea too, I'm sure I've got an old choccie tin laying around from Xmas.

maybe the buy no toiletries challenge will help u

http://forums.moneysavingexpert.com/showthread.html?p=30570319#post30570319

KONG

FirstTimeSaver wrote: »

Hiya Kong

Thanks for the post, everyone has been really helpful on here.

I think you're right about selling stuff. I have been a toiletries addict for many years now (my mum and boyfriend are always telling me off!), my bathroom looks like Boots or Superdrug

I feel quite sick when I think about all the money I've spent on the next new shampoo that will make my hair look fantastic (never works by the way )! So I might start selling these on e-bay, as yu say every little counts.

Liking the coke bottle idea too, I'm sure I've got an old choccie tin laying around from Xmas.

Hello again FTS,

Good luck with it, and I would love to hear in the future how the savings is going for you and what you are doing for savings...

save-a-lot

Eeking out savings, by being more sensible:
Last month (well actually since the beginning of this year), I have been lazy, well, leaving it too late to prep stuff and did not make myself a packed lunch to take to work and I was getting into the habit of spending £4+ a day, equating to £80 to £90 last month as a good guestimate on overpriced food at work. So, this month I have been really disciplined and made sure I make my own sandwiches.. It is saving a good bit of cash that I am now saving. I have also recently starting car sharing now and the £10 a week is also helping contribute to the cost of my commute, my usual expense for running my car is £150 a month, so effectively reduced to £110. Also, at the beginning of the year British Gas altered our gas and electric monthly DD upwards, based on the fact that we had paid off a lump sum that we were in debit by in the middle of last year, the adjusted price almost doubles the gas payment monthly and electricity is up slightly. So, in order to reduce costs we have used the tumble drier probably 5 times this year, instead of the usual 3 or 4 times a week, it does mean that there is 2 clothes horses in constant use, but hopefully the weather will be good enough soon to get clothes out on the line, and also made some other changes based around consumption, so hoping when the usage is evaluated again by BG, our actual consumption will be alot less and lesser monthly costs. Fingers crossed.


Savings at the mo:
Savings wise I am rolling at about £300 a month in to share schemes, and servicing a 0% credit card debt at about £150 per month (that will get paid off in the zero percent offer period). I do have savings, but most is tied up, hence the credit card.

I have just had the good fortune of receiving notification of my annual bonus, and it was quite good really, so £4300 into savings in the April pay packet. It does come as 50% cash (subject to tax and NI) and 50% in shares (held in trust, tax free after 5 years). So feeling quite happy about that.

Lokolo

Loving the bonus! Wish I got that!

Got paid today. Friend wanted money for charity run she is doing, although I haven't budgeted for it, it can just come out of my Getting Drunk Section.

Put £300 into car savings. I might be able to put an extra £50 or something in at the end of the month. I have 2 weeks off end of March for Easter. Going home for most of it so will save money on petrol and work food.

Guess we'll see!

Also got interest statements for my ISAs so my Graduation Savings have upped by £300 too. Happy

FirstTimeSaver_2

Hiya,

Lokolo you made me laugh, I love the fact you've got a getting drunk fund!

Well I've taken the plunge......

I had a part-time job working in a pub last year to get some extra cash but got so tired and fed up working the extra hours on top of my full time job that I quit last year. I've just gone back and have got some extra shifts. Can't say that I'm jumping over the moon about having to work weekends again and my friends and boyfriend told me not too but I've got 3 weddings to go to this year (so far) 3 hen do's, etc. etc. So if I stand any chance of getting any savings and not getting into any debt paying for all of these I'm gonna have to put the hard slog in!!

Wish me luck

alixia

Congratulation on your saving!:T

I think that the key to the saving is to keep the cost of living and unnecessary spending to the minimum. When I think about what I have been buying last few years and didn’t need! :eek:When moving I had about 15 boxes of staff which I didn’t use and have been left just for storage.
I have started with selling these things (mostly books) and I have made over £300 on them! Then I sold all of clothes which didn’t fit or I was not wearing. Stopped buying too much food (currently trying not to spend over £15 per week) and stopped buying new clothes, shoes and bags. (I have enough for a few years). It is actually quite refreshing not have mountains of possessions!:A
Suddenly I am able save over £700 per month and hopefully will be able put down good deposit for my own place.:T