How much can you save?

bodmil

Pay day tomorrow! :T

MONEYME

Passed the £40k mark and now up to £40,641.03.

I'm setting the next target for £50k by April 30, 2011.

Good luck to everyone on here on achieving their goals!

dippykitty

tinkerbel wrote: »

once A+L sent me a cheque for the last 2p remaining (of interest from when I closed my account) how silly! cost them more to post!

I didn't even know you could write cheques for 2p!

MONEYME wrote: »

Passed the £40k mark and now up to £40,641.03.

I'm setting the next target for £50k by April 30, 2011.

Good luck to everyone on here on achieving their goals!

Congrats! Good luck with the next target!

tara747

Well done MONEYME!!!!!!! :beer:

rictus123

Matty who is your main regular saver with? I think im going to fill my ISA and see if im going away on holiday this summer first before i commit to anything. Also itl be easier to set up a standing order in July as my pay goes up £315 a month take home, not including overtime so il look to put most of that away. I think filling my ISA with the £5k will be my first aim though, hope to do that by the end of the year!

Got about £1,100 in my ISA. Payday tomorrow though

albacookie

Mags_cat wrote: »

Hello folks :hello:

I've read through the last few pages of this thread and you all seem a friendly (and slightly exercise-crazed) bunch!

I'm now in a good place financially. I had a substantial payrise about a year ago and that was when I seriously started to save for my future. Before that I was earning enough to live quite happily, but I never seemed to be able to save with any consistency. I'd save some, then something would happen and I'd be back to square one. I'm a civil servant (don't shoot me!) so as long as the goalposts just keep moving and don't disappear completely, I should have a half decent pension. However, I'm 38 (39 next week!) so there's a way to go for that yet. I do not want to be working until 65, though, so I need to plan to fund the "gap years"!

I have a mortgage on bedsit/flat that is rented out - due to be put on the market in July. I haven't lived there since 2002, bought it in 1991. Where I live now is rented from a (wonderful) private landlord.

Other than that I have one loan which I used to buy my car - due to be paid off in June this year. I've been overpaying by 100% a month to get the balance down. Just this month I cancelled the overpayment S/O so that this next payday will pay only the basic amount and June's pay will clear up what's left.

No credit cards - never have had. No other debt.

You'll see from the signature that I'm going for a Rainy Day Fund of six month's (net) wages. I know the *recommended* amount is three month's wages, but I reckon I could make that six month's money stretch to almost a year's living expenses if I had to live frugally and not save.

I've got my first ISA - was with Lloyd's last year but was pants for interest, so have transferred it to First Direct and got a decent rate. Maxed it last year and will be doing so again in August this year when another savings account matures.

The plan is to have one month's money in an easy access account linked to my curent account *just in case*. Just in case there's a pay problem, just in case they put it in the wrong account, all those *just in cases*. The rest of my RDF will be in ISAs, where I can get at it if I need it, but hopefully won't.

I'm also (and this is waaaaaaaaaay more exciting) saving for my mid-life-crisis-holiday-of-a-lifetime . Next year I'll be 40 and am planning to celebrate in style on the Golden Eagle Trans-Siberian Express. I think it'll set me back about £10,000 (and that terrifies me just typing it!) but from all accounts will be so worth it. I've had some very generous contributions to the fund from my parents (early birthday presents for both this year and next!) so that's off to a good start.

Nice to join you all on the road to financial safety

Good luck Mags, I'd love to do the Trans Siberian Express - its a toss up between that and Antartica for my trip of a lifetime (which is purely hypothetical right now!)

Not much saving this month - 2 weeks in South Africa wiped me out but totally worth it. I've applied for Santander's ISA for this year but I'll fund it next month.

skaps

Am hoping to save 1000 by July for holiday spending money. Have saved 250 so far so 75% left to save.

partlydave

LucyTheDwarf wrote: »

The geek shall inherit the earth.

Does anyone know of any reason why A&L might pay me interest on my current account on 25th Feb, 25th March, but 25th April has been and gone and I've earnt no interest! Just wondered if there's a proper reason before I phone them...

Probably a computer error which wont happen unless you ring them:)

partlydave

tinkerbel wrote: »

once A+L sent me a cheque for the last 2p remaining (of interest from when I closed my account) how silly! cost them more to post!

I just closed an Abbey account which had 4p in it, so I told them to give it to charity. Imagine how much it has cost them to process it.

Moneyme and Tara, your savings totals are awesome....Nice one

tara747

partlydave wrote: »

I just closed an Abbey account which had 4p in it, so I told them to give it to charity. Imagine how mucg it has cost them to process it.

Moneyme and Tara, your savings totals are awesome....Nice one

Thanks, it is hard work but worth it!! :):)

p.s. love your sig :rotfl: