How much can you save?

carol01

davilown wrote: »

:spam::spam::spam::spam::spam::spam:
I believe - reported

reported also:D

LucyTheDwarf

Well, May is my budgeting year end and I have a deficit of £516 (I aimed to save £6K this year)! Add to this last year's deficit of £391 and I have some work to do this year to get back on track for my £6k a year!

However, I am on track to meet my main goal of having £25,000 saved by my 25th birthday. I should get there about 3 months early Or even earlier if I actually manage to save £6k plus previous years' deficits, as I hope to. So I'm pleased with myself.

I say this every year, but I aim to be harsh on myself this year. I'm going to work my backside off in the hope that I'll get a pay rise in the autumn (though I always work my backside off), and have signed up to 3 new survey sites in the last couples of months. I'm already reaping the rewards of these in Amazon vouchers. I've had so many books in the last few weeks I haven't paid for. Surveys are as dull as ditch water, but it makes it really worthwhile when I come home to a parcel several times a week. That and I aim to write a Dooyoo review a week again for Amazon vouchers.

Yay, for new budget motivation!

bodmil

Don't be too hard on yourself Lucy! 3 months early is pretty damn good progress! Do you think maybe you could make it 4?

I've just splashed out on a big spend and kinda kicking myself because next year's model is heaps prettier and I'm almost happy to pay an extra £100 for prettiness! Bad MSE! But today is my first car free day so hopefully I will start to see my spending drop a little.

LucyTheDwarf

Well, I'm hoping to make it 6 months early actually!

I'd be willing to pay £100 for prettiness - if it makes you happy it's worth it!

gien

Been a while since I posted as I had family staying, but we signed the 'pre-contract' for the house on Monday. this means it is no longer marketed and the file is sent to the local lawyer to be sorted out. We then sign later and it's a done deal (we've set the 'taking the keys date' as the 23rd July). So it couls all go wrong but we shall keep our fingers crossed.

Savings wise it's been up and down. We don't have as much as before but are being super careful about spending and keeping track of everything we do spend. We've had a bond mature in the last couple of days, and it's positive news so when that goes through and we've put down the deposit I'll reassess the pending plans.

Mags_cat

Paid the last of my car loan off this payday . Was from my bank, over three years and I managed to pay it off in 19 months by overpaying.

It was so satisfying to log onto my bank account today and see *no* loan account at all! :T. My only debt now is my buy to let mortgage on a flat I don't live in which is being put on the market at the end of this month. (I rent the place I live in now).

Incidentally - I was slightly horrified to see that now the bank want to give me a credit card with a £10k limit :eek:. I've never had a credit card before - I doubt I'll be taking them up on their generous offer, to be honest...if I've got to almost 40 without one, I'm sure I'll survive!

gien

Well done on getting rid of the car loan so quickly Mags-cat.

Crikey, we're transferring the deposit on our new house today :eek:

Should mean it's ours but we still risk being gazumped between now and signing with the lawyer (it's a different process here than the UK). Generally though it should be fine.

So we are now having to save up a huge amount of money to do the repairs/alterations we want to do - we'll have to get some from the bank but we really need to tighten our belts I think.

KrazyKel

Im going to try start saving again now!
I bought my car just over a month ago, just over £5300 ish cash (50% deposit) and 50% 0% APR for next 2 and half years
Finally got my Tax Credits sorted (After no payments for over 5 months) so got a back payment of over £1000
They also said ive been underpaid last tax year and send a cheque for another £1100 ish Yeyyy!
Got to pay my mum some backdated rent, but have between £2-2500 saved up again now!

Ive got to budget more with what im spending with the new car and increase of car insurance. but have minimal outgoings and also ebaying a lot too!
I dont think ill be in a position to buy for many many years, due to only working 16 hours a week due to disability, but my next aim is to save enough to move out and look for better job too - it is ok staying where i am for now as it gives me chance to save but nice to look to the future.

Lokolo

Haha Halifax phoned me up last week, offering me 0% credit card. I knew it was a total sales pitch but thought what the hell, lets see what they offer me.

21 year old, I told them I have around £5k income. Got the letter through, £1100 limit!
Crazy!

leahciM

Student loans people caught up with me this month - £70 a month they're taking off me! :eek:

Going to put a bit of a dent in my disposable income ('cos I'm going to try to stop it affecting how much I save.)

Also, I know that all the advice tells you to pay of credit card debts before you should save, but it's so much more encouraging to see money go up rather than a debt go down, don't you think?

I'm saving while simultaneously paying off my CC in smaller installments-which has a debt that isn't massive (Under £800), this a good idea or am I just being foolish?