How much can you save?

ViHan

After a hectic few days with a sick child I finally cashed up my bake sale takings. I made £50 :money: and a few pence after my stall rent and a cuppa
Found a fiver on the school run this morning so thats getting dried out and added to the pot.

Counted up the change pot too and at the moment I have £65 in notes to bank plus some change. Hope to bank £100 before christmas.

DireEmblem

dooleysdollymix88 wrote: »

Wow 5 years thats really impressive!

A tip I have started for going out is to get the set amount out before your night out and leave the card at home! Also if your just going with a few friends meet at someones house for a bottle first. Much cheaper than buying drinks at the pub!

And after a night out throw your spare change into a jar!

tara747

Well done to all! Wow, £50 from a bake sale, that's really impressive! *dusts off cookbooks* :rotfl:

I have been eBaying again, so far (about 4 weeks) I have made around £470 just from decluttering and I have sooo much more to sell! Hoping to keep going at it till I've got rid of all my unwanted stuff and make more £££s It's great seeing money flowing into my Paypal account.

I always withdraw it ASAP as I prefer to have in my bank account - it's not good to let money build up in PP as they can freeze your funds anytime if you're in a dispute (not that I ever have been but I've heard that it can happen :eek:).

Happy saving peeps! Can't wait to do my end of year update!

guitarman001

£470 from de-cluttering? Well done!

I also made a couple hundred a while back selling some old guitar stuff. I really must get the rest of the stuff sold. I do have some more guitars etc to sell. Tempted to sell my 600+ CDs (also same amount in DVDs!) but they sell for so little nowadays and I do love my music.

Right now I am invested in a risky (tut tut, I know) miner hoping to make back my £1k+ losses due to poor investing this year. If that works I will be over the moon, gutted otherwise!

Bonus this month from the work so this should bring my savings this month to approx £1200+. However this will most likely go on my Florida holiday and car repairs next year.

tara747

guitarman001, get listing!!! :beer:

Yes, £470, can you believe it. I have been selling clothes, bags, accessories, jewellery, unwanted toiletries etc, and also partly used bottles of perfume - it's amazing what they go for!!! :eek:

I have a long way to go, honestly I reckon I should make well over £1,000 just from my clutter! It'll all boost the deposit savings, I am hoping to add well over £1,000 to my savings this month I have also vacuum packed some unwanted summer clothes ready to sell in spring, no point in listing them in winter!

I wouldn't bother selling my CDs, as you say they don't go for much

Last week I had about 90 things listed, was actually glad that only 50 of them sold - forgot that packing them up would take forever! :rotfl: But it's worth it in the end. OH is thrilled that I am decluttering, he says that I have too much stuff

((((eBay))))

laisbojar83

Hi everyone,

I am in need of a bit of guidance here.
I am still dealing with my debts however, I am at a stage now where I can save some money. I dont have a fortune, not even near anything most of you guys have got but I really want to get there hehe. Ive been reading about 1yo bonds and 3yo bonds. I really want to get a big chunk of my next payday, next week, together with what I have saved and put away. Maybe I could use some to pay my debts, I know but I am due to be debt free next december and I would like to stick to what I am doing and start saving (since there is only 1 year to go until my DFD) But my question is, can I make further deposits on these bonds? Or just the first one and thats it?
If I can make further deposits, then I am opening one right now!! lol
Thank you in advance.
xxx
L

ViHan

Update:
Banked £100 today into my flex saver.
Current balances ISA £10530.47, Flex saver £3130.20 and Reg Saver £1000 :T
Grand total £14660.67 £1339.33 to go!

TimBear

Hi, hope it's ok for me to join?

Finally feel like I can post here now after having spent the past week on and off reading every single page (277!!) of this thread.

Bit of background info...I'm only 23 and have had good intentions to save for years now, but only in the last couple of months am I taking this seriously. I could kick myself for the amount of money I've wasted during this time, but I guess I can't think like that about time that has gone and can now only concentrate on the future!

So, started saving in November and have a total of £1,000 now saved up to get me on the right track.

Have a loan which is outstanding of a total of £1,500 remaining to pay - most stupid thing I ever did was get that out and now can not wait to pay it back!

I just wanted some advice, I could realistically pay off the loan either this pay day or next pay day, but in the process would wipe out my savings. I know it's better to have no debt than save whilst in debt so I'm looking to do this, but then will feel a little de-motivated that I have nothing again! What would you suggest?

I'm already a little addicted to saving the money and as a lot of you have said throughout this post enjoying seeing my money going up to the next 'bracket', whether that is the next 10 or 100 mark (starting small!).

Anyway, basically, come January time I hope to really get on board with saving money. Primarily to buy a house but then also for general security. Initial target is 10k by the end of 2011.

Here's a list of my expenditure -

Basic salary £16,500pa
Commission on top (variable - could be £250.00 per month could be £1,000.00 per month - averaged around £500.00 since March this year, expecting this to decrease in the New Year due to a change in structure at work )

Outgoings -
£350.00 - rent/all bills (OH pays the same amount again)
£150.00ish - food per month for the two of us
£131.95 - loan payment
£40.00 petrol
£287.05 SO for savings into an ISA (this I worked out is the maximum figure I could save in any one month were I not to hit target and therefore get no commission, but still have money to live on - although the amount I actually save will vary - this month for example I saved £750.00 without really missing it)

I have car insurance due in March so that will be around £400ish I guess too for the year but that will come out of my February pay in one hit which is do-able. I know I should budget for this throughout the year but this seems to work for me for now.

My OH is in debt to the tune of around 10k from a large overdraft and loan - no credit cards - (from before we met) and I'm trying to get him on the straight and narrow now, but it's very hard! He doesn't seem to appreciate the value of money and the fact that if he's got no money he has no money, rather than 'Oh I've reached my OD limit, I'd better extend it' - SO infuriating! However, although this is a horrible position to be in, in some ways it will help me as if he sticks to his minimum payments (which at the moment he has no choice but to do) he should be debt-free in three years. Which gives me at least three years to save before I would even think of buying a house with him, and then potentially another three on top of that to give him too time to save some money for our house - think how much I could have in six years!

Anyway, this is turning into an essay and probably hasn't really even told you much about me! I just wanted to let you know a little bit about where I am with this journey...even just reading through all of your posts from the past three years has greatly inspired me already!

Really just looking for some support and motivation!!

Thanks

Masomnia

TimBear wrote: »

Hi, hope it's ok for me to join?

No, sod off

Have a loan which is outstanding of a total of £1,500 remaining to pay - most stupid thing I ever did was get that out and now can not wait to pay it back!

I just wanted some advice, I could realistically pay off the loan either this pay day or next pay day, but in the process would wipe out my savings. I know it's better to have no debt than save whilst in debt so I'm looking to do this, but then will feel a little de-motivated that I have nothing again! What would you suggest?

Instinct says pay it off, as you'll almost certainly be better off financially.

But also consider:

-How secure is your job?
-How long will it take you to build the money back up? ie. how likely is it that the boiler will go and you'll need to fork out?

If you reckon you'll be able to save £10k by the end of next year, then you clearly have the disposable income available to quickly build up savings, so I'd say go for it. But of course it's entirely down to you.

Here's a list of my expenditure -

£131.95 - loan payment

:eek: I'd pay it off. Channel the interest you would be paying on the loan into savings. Jobs a good'un.

I have car insurance due in March so that will be around £400ish I guess too for the year but that will come out of my February pay in one hit which is do-able. I know I should budget for this throughout the year but this seems to work for me for now.

Have you shopped around?

My OH is in debt to the tune of around 10k from a large overdraft and loan - no credit cards - (from before we met) and I'm trying to get him on the straight and narrow now, but it's very hard! He doesn't seem to appreciate the value of money and the fact that if he's got no money he has no money, rather than 'Oh I've reached my OD limit, I'd better extend it' - SO infuriating! However, although this is a horrible position to be in, in some ways it will help me as if he sticks to his minimum payments (which at the moment he has no choice but to do) he should be debt-free in three years. Which gives me at least three years to save before I would even think of buying a house with him, and then potentially another three on top of that to give him too time to save some money for our house - think how much I could have in six years!

Sounds wise

Good luck with everything!

alohahawaii

" Have a loan which is outstanding of a total of £1,500 remaining to pay - most stupid thing I ever did was get that out and now can not wait to pay it back! "

I'd pay this off asap, when i became debt free i hated owing anything to anyone and couldn't wait to get it paid off. This way you'll have more to put to your savings and you'll get your savings back up in no time and you wont have to think about it anymore.

Good luck