How much can you save?

Lokolo

[QUOTE=ljaneyr;34622195]It's free to change it online unless you do it more than once in 6 months which I don't plan to do. I spent loads last week which is so annoying. Mainly on work clothes, ebay fees and dog food and a collar but it all adds up. It was my birthday on Thursday (25 is actually the new 18) so I feel I shoud pay back some of my overspend with the cash I got from mine and my OH's parents but it doesn't seem fair!?!

Anyway birthday was a complete non-event as I had a performance on at school so worked 8am to 10pm on the day. Woke up the next morning with stomach pain and spent the day waiting for a (very uncomfortable) bed and then Friday night courtesy of the NHS with suspected appendicitis. Which it turned out not to be and I eventually got home Sat afternoon. What a birthday!

I can't wait to pay the final £158 into my overdraft as I can finally start saving again, except then I have car insurance to pay for next month so no savings expected then either. I feel like I'm not getting anywhere![/QUOTE]

Yep! Not many people know that, have to answer questions about HSBC overdrafts all the time! Crazy.

Happy Birthday though!

MONEYME

After getting to my £40k target earlier this year and now pushing towards £50k I've been thinking about my next target. Ultimately I want the money as a house deposit but £50k would a only be a small dent in the type of place I'm after. I don't want anyhing flashy just a 3 bedroom place in or around London.

With my savings not being helped by the low interest rates I've looked at other investemnt alternatives but can't afford to take any risks.

Interest rates are expected to stay at 0.5% until end of this year and could hit 3% by the end of 2011.

House prices are also expected to fall throughout 2011 so also means I don't need to rush to buy and can try and save as much as possible.

After all that I've decided to put my target at £100k by August 2014. It is achievable I've worked out but means I'll have to be disciplined like I have for most of the past 18 months.

skintscotslass

Hi folks

May I join in? I'm finally debt free and now saving like mad I want to save up around 3 months salary and then start overpaying the mortgage.

SSL xx

Lokolo

skintscotslass wrote: »

Hi folks

May I join in? I'm finally debt free and now saving like mad I want to save up around 3 months salary and then start overpaying the mortgage.

SSL xx

Go for it

What rate is your mortgage at??

skintscotslass

Lokolo wrote: »

Go for it

What rate is your mortgage at??

I'm almost too embarrased to fess up to that one I took the very bad decision to fix at 6.29% for two years in August 08. To be fair, the STV was 7.15% at the time and I certainly didnt expect the rates to plummet. Occasionally kick myself about it. Anyway, I'm currently looking to remortgage, so that my payments will go down. I'm saving between £400 and £500 per month. I was paying that to get rid of my debt for the past couple of years and its now second nature. I did think about treating myself to an HDTV for the World Cup, but couldnt quite bring myself to spend £350 lol. Am comping like mad to try to win one

dippykitty

skintscotslass wrote: »

Hi folks

May I join in? I'm finally debt free and now saving like mad I want to save up around 3 months salary and then start overpaying the mortgage.

SSL xx

Welcome aboard! How much are you setting as a target?

ljaneyr

MONEYME wrote: »

After getting to my £40k target earlier this year and now pushing towards £50k I've been thinking about my next target. Ultimately I want the money as a house deposit but £50k would a only be a small dent in the type of place I'm after. I don't want anyhing flashy just a 3 bedroom place in or around London.

With my savings not being helped by the low interest rates I've looked at other investemnt alternatives but can't afford to take any risks.

Interest rates are expected to stay at 0.5% until end of this year and could hit 3% by the end of 2011.

House prices are also expected to fall throughout 2011 so also means I don't need to rush to buy and can try and save as much as possible.

After all that I've decided to put my target at £100k by August 2014. It is achievable I've worked out but means I'll have to be disciplined like I have for most of the past 18 months.

Wow that's some target! You're doing so well! I would love to own my own home by the time I'm 30 but if I save at my current rate of about £4000 per year that will still only give me about 25,000. But then my OH should have saved something by then and maybe a miracle will occur and I will get a full-time job. Too many 'if's for my liking.

skintscotslass wrote: »

Hi folks

May I join in? I'm finally debt free and now saving like mad I want to save up around 3 months salary and then start overpaying the mortgage.

SSL xx

Welcome! You've done so well to pay off your debts, saving should be easy for you now

Vixstar

Well decided to transfer £300 to my savings accoun now as its only a little more than my regualr saver standing order was, every littl helps with the interest and I had a desire to have a round number in there which is now £5000.

dippykitty

MONEYME wrote: »

After getting to my £40k target earlier this year and now pushing towards £50k I've been thinking about my next target. Ultimately I want the money as a house deposit but £50k would a only be a small dent in the type of place I'm after. I don't want anyhing flashy just a 3 bedroom place in or around London.

With my savings not being helped by the low interest rates I've looked at other investemnt alternatives but can't afford to take any risks.

Interest rates are expected to stay at 0.5% until end of this year and could hit 3% by the end of 2011.

House prices are also expected to fall throughout 2011 so also means I don't need to rush to buy and can try and save as much as possible.

After all that I've decided to put my target at £100k by August 2014. It is achievable I've worked out but means I'll have to be disciplined like I have for most of the past 18 months.

Good luck with the £100k target!:D

albacookie

MONEYME wrote: »

After all that I've decided to put my target at £100k by August 2014. It is achievable I've worked out but means I'll have to be disciplined like I have for most of the past 18 months.

Wow - 100k that's a great target!

I got a cheque from Scottish Power for £137 so that will be heading to my ISA soon.