How much can you save?

2108

Invested a few hundred pounds on a bike last week to save on the daily commute to and from work using public transport in the city. Might take just over 6 months to break even with the amount spent on the bike to the amount saved on otherwise travel costs, and anything after that should then become pure savings, not taking into account servicing/maintenance costs if required. Other benefits of this include a healthier journey to and from work, getting there faster door to door, being able to claim back mileage when it comes to tax, and being pretty much unaffected by delays/engineering works etc.

EagerLearner

Hi everyone,
Just dipping a toe in to the thread as since we bought our place, finances have spiralled and money every month just gets spent on repairs etc rather than saved.
We want to get back into the habit and as of October should be able to.
Very inspiring to read your comments and plans, we'd love to start overpaying the mortgage and claw back some of that interest from the bank, so that would be the plan for any extra funds.
First we'll set most of the savings to go to an emergency fund, with some small over payments to morgage.
Then once emergency fund is getting ok, we can decrease that percentage and increase the percentage on overpaying mortgage sort of thing.

The_Pixi

Posted this in the Savings Journy thread then spotted this one also

I thought I'd join in with this

I'll probably just read the thread and post occasionally

Currently I save a month

- £125 into the Santander Balanced Portfolio
- £125 into the Santander Global Equity Portfolio
- £100 into the Santander Super Flexi ISA (5.5%)
- £100 into 'New' emergency fund Santander Saving Account (2.5%)
- £70 + Change into Paris Fund for November Trip

I don't have a goal as such but just like making the numbers grow:T

EagerLearner

Welcome The Pixi and that's a very nice amount to save per month - colour me jealous! I am usually saving around £300 on a good month, £50 lately though as driving lessons have axed my monthly savings... so painful!

edinburgher

Aha! Why haven't I found this thread before?

Since paying off my debts at the start of the year I've been enjoying myself with not being beholden to the banks (and finally getting to enjoy the payrise I got last autumn)

Anyway, we're getting married next year, looking to get a mortgage the year after that and would like to start a family at round about the same time as the mortgage. Just to make things even more ambitious, I'm hoping to be a fairly hands-on dad, so will want to drop to a 30 hour week by the end of 2012!

So, plenty to save for.

We've managed to save £3,000 since the start of the year (our emergency fund) and I've also got about £450 in a stocks and shares ISA and £200 in Zopa. I've also got an active Santander ISA at 3.2% that we should probably be taking advantage of

I think we should be able to save about £700/mth as well as my fledgling investments, so hopefully we'll have another £3500 in cash by the end of the year.

Do people on the thread tend to talk about savings by calendar or financial year?

hostie1985

Welcome to the thread Pixi and Edinburgher!!!

Eagerlearner - It will be worth the wait, when you pass your driving test - the lessons are so expensive! When i was learning to drive - my dad took me out most days in my really rusty fiesta - got rid of it once i passed my driving test (3rd time round - oops).

Edinburgher - I save per calendar month (I get paid at the end of each month)

Only 3 months left to pay for my car, then i'm officially debt free!!!

Hostie

dippykitty

edinburgher wrote: »

Do people on the thread tend to talk about savings by calendar or financial year?

Calendar year for me personally. I get too confused otherwise!

jibadeeha

I've just got my bonus a few days ago (£3000) and have decided to move it into my savings account along with (£1000) from my salary. This now takes my savings account from £54K to £58K, so I am now back on track to reach my target of £65K by the end of January 2011 (providing nothing goes wrong of course). I've never saved this much money before - scary.

:eek:

Driving_Soon

jibadeeha wrote: »

I've just got my bonus a few days ago (£3000) and have decided to move it into my savings account along with (£1000) from my salary. This now takes my savings account from £54K to £58K, so I am now back on track to reach my target of £65K by the end of January 2011 (providing nothing goes wrong of course). I've never saved this much money before - scary.

:eek:

Wow! An Impressive ammount! Well Done!!

skaps

Wow the most I have saved is £16000. What are you saving up for?