How much can you save?

tara747

Well done FirstTimeSaver!!! It's never too late to get started and it all snowballs, well done xo

Jay83

just wondered where do you get your spreadsheet templates from? i see alot of people talking about updating their spreadsheets, just wondered is there one on this site somewhere? thanks x

quintwins

FirstTimeSaver wrote: »

Just wanted to give my update. I put £91 into my savings account. I was so excited as it's the first proper savings that I have ever done!! Woo hoo, doing a litle happy jig :rotfl:

I know it's not very much but it's little tiny baby steps at first. I've also devised my own monthly excel budget sheet which is really helping me keep on track with my daily spending.

I do feel a little overwhelmed when I see how much everyone else has saved. It makes me wish I'd sorted myself out years ago.

i know how you feel i see people with loads of money saved and i'll be thrilled when i get over a grand lol, well done on saving £90 everything helps and it soon adds up


i don't check my bank for the same reason as you i check to make sure hubby was acually paid, he works for his parents in the family business, as dispite me asking several times they haven't set up a direct debit so they transfer it every week, it's really annoying altho at the same time it means if we need it a day or 2 early we can get it, like fri is payday but banks are closed this fri so there paying us on thur, sounds good but were still waiting on last weeks pay, good job his pay only goes on our rent and savings, or we'd starve

mintedmatty

Its good to see everybody doing so well! Im really planning on pushing on now with the savings and build a good amount up. As I mentioned in my last post on here I have opened a A&L 5% Premier Direct Account up, transferred £2,500 in and service the account with £500 per month as required. This should earn me an estimated £120 in interest over next year.

I have also opened a A&L Regular Saver for £50 per month at 6%, didnt want to put more in just incase as you cant change the amount as I have £250 going into a HSBC Regular Saver, this is at 4% but I can change the amount I put in? These 2 accounts should earn me estimated £17 and £52 over the next year.

I have also increased the S/O to my Santander and YBS savings accounts, these are 'out of sight, out mind' for anything that crops up and for various things that I need to spend. Im now paying £20 per week to YBS which if i dont touch will earn me a miniscule £3 but i guess its a special occasions fund tbh? Im using £200 for a stag weekend i go on next week and Ive not had to put any extra aside as its completely funded from the S/O proceeds from that couple of months.

Im paying £45 in my Santander Esavings per week, this I can get to if need be but I hope not to touch it, as its for extra long term savings that I can put towards various things.

All in all I certainly hope to break the £200 interest earned in 12 Months, We are still keen MFW's and overpaying on both mortgages, we will see what the next year brings.....just dont mention babies & engagement rings to Mrs MM!!!!!

tara747

Well done mintedmatty!!!!! I have earned close to £1,000 in interest alone over the past year wayhey!

My savings are now up to £32,892 (see updated sig) with c. £400 in ISA interest to come next week. Yippee!!!

mintedmatty

That is some serious Moolah Tara!!!! £1000 that is certianly the aim but im sure a bigger house and other stuff will seriously dent into achieving that anytime soon, but that is a great mindset to get into 'The compunded interest effect' earning interest on your interest! Well done!!!!! something I certainly aspire to

mintedmatty

Hopefulwife wrote: »

Pay day 2moro :j
I am so tempted to wake up at midnight and log in just to see that its hit the account BUT that would just be sad and i dont think it will help me reach my goal any faster lol:(

But just out of curiosity does any1 ever get that urge?? Its ok if its just me

If u want a life like noone else's, live like noone else (i love it)

I will admit, I did that the other night but it it hadnt gone in? Think BACS payments etc get paid in the early hours!!!!

tara747

mintedmatty wrote: »

That is some serious Moolah Tara!!!! £1000 that is certianly the aim but im sure a bigger house and other stuff will seriously dent into achieving that anytime soon, but that is a great mindset to get into 'The compunded interest effect' earning interest on your interest! Well done!!!!! something I certainly aspire to

Thanks for your kind comments.

dippykitty

tara747 wrote: »

Well done mintedmatty!!!!! I have earned close to £1,000 in interest alone over the past year wayhey!

My savings are now up to £32,892 (see updated sig) with c. £400 in ISA interest to come next week. Yippee!!!

Wow at your new total! Wish I had the kind of savings that would get me that kind of interest but sadly not. Looks like you're well on track for the £40k goal by the end of the year?

tara747

dippykitty wrote: »

Wow at your new total! Wish I had the kind of savings that would get me that kind of interest but sadly not. Looks like you're well on track for the £40k goal by the end of the year?

Hopefully I only wish IRs were a bit better... even at 5% I'd make about £1,750 in interest this year. At 10% it's be £3,500, how great would that be!!! :rotfl:

p.s. you're doing really well yourself!!!