How much can you save?

bodmil

Well done Zag!

Pretty depressed about the budget today, especially the tax free income and CGT increase. Really don't see the point in doing well anymore!

leahciM

zag2me wrote: »

A little early this month for me but I'm doing something special today.

I posted on page 1 of this thread in 2006 and have finally reached my target of 25k!! Whoop!

So today I have paid off half my mortgage with all my savings.

Now onto the next half!

:beer::T

Well done mate- there's a nice bit of encouragement for the rest of us!

FirstTimeSaver_2

Hiya everyone

Update to give on savings. Have put another £91.57 by so on track with my yearly total. My finances are being stretched to the limit at the moment so really pleased that I have kept on track with putting my monthly savings by.

Well done Zag! All your mortgage paid by the time you're 35!! I can't even imagine getting it all paid off so quickly. Any tips would be greatfully received!! :rotfl:

bodmil

Why not 23rd June? =P

MONEYME

I withdrew all my savings from my Egg account (just under £14k) last week to buy shares in BP. It took a few days for the money to transfer and by the time it did I bottled it and changed my mind and just transferred the money back.

Think I'm getting greedy now, I keep on looking for alternatives to the low rate savings accounts but don't want to "gamble" which I would have been doing.

Winged_one

I am currently saving €700 a month - €200 per fortnight as a salary sacrifice straight into the credit union associated with work, and €300 a month into a regular savings account. However, the rate on that has dropped to 1%, so I am in the process of setting up 2 new regular savings accounts both at 4% - one will use the lump sum from the current RSA to drip feed in max amount monthly (will have over 5 months) and then reduce to what is feasible by juggoing, while the second will initially have the current regular amount and that will then drop like a stone to a very low regular amount (that rate drops after 6 months, the other after a year, so aiming to maximise my interest earnings).

I also have a sorta annual investment "plan" of allowing myself up to €500 to buy lotto tickets and scratch cards. Don't usually spend anywhere NEAR that amount (I'd be very surprised if I go over €100), but it means if I fancy a flutter one week, I don't feel guilty about it. And I have won on some tickets - not big, but won.

Thrifty_Pixie

Hi all, I'd like to join if I may?


Bit of background, if you will...

I had my lightbulb moment about my debt on the 15th September 2009 when the total stood at a frightening £8384.43 spread over a personal loan, credit card, overdraft and some money owed to my then boyfriend (now fiance ).

On the 29th of December 2009 I finally became debt-free after a massive re-evaluation of my finances and throwing a couple of windfalls that came my way at my debt (a small inheritance and a work bonus amongst other things). Since then I have moved in with my fiance and have started to save for the first time in my life

I now have a cash ISA at 2.65% (the best at the time I opened it in Jan 2010) and an Incentive Saver at 3.04% (although I heard rumours here that this was ending soon?)

I so far have £3,173.37 in my ISA and £378.26 in my Incentive Saver - Total £3,551.63 :j

I pay £500pm into the former and £50pm into the latter, and I also am a member of the 'Payment A Day' thread on here and make daily payments to savings of whatever I can afford...be it £10, 10p or whatever..either in cold hard cash or rounding down accounts online. The regularity of it is quite addictive Oh, and I also signed up for 'Save the Change' with my current account so that every time I use my debit card it's rounded up and the difference popped into my Incentive Saver.

I alsssssoooo have a £2 pot that is almost full, a '£1, 50p, 20p' tin and a Stop-Smoking Pot that I throw £1 per day into (now on Day 10 :T)

So there you have it! Ha. I guess you could say that I've swopped my addiction for spending to one of saving...but hell, it's a lot better for body and soul

My goal (on my very OCD spreadsheet) is to save at least £21,420.00 for a deposit on a house by March 28th 2013...which was a vague date arrived at by working out when three full years of my ISA allowance was up.

I hope to gather some hints and tips here on where best to put my savings over this time period, as I'm still new to this and want to get my money's worth.

So...yeah...hi :wave:

*meep*

slowlyfading

:hello: thriftypixie and welcome to the thread! sounds like you've got it sorted!

Thrifty_Pixie

slowlyfading wrote: »

:hello: thriftypixie and welcome to the thread! sounds like you've got it sorted!

Thanks Not perfectly sorted, but I'm hoping that I'm getting there!

Thrifty_Pixie

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