How much can you save?

LucyTheDwarf

I would never buy a brand new car again, but I'd say it's worth spending more on a car that's 2-3 years old, rather than an old banger where you could have significant upkeep / repair bills.

I bought a new car 5 years ago, for 6K. In October last year I bought a far superior car for 6K, which is now 3 years old. Makes me really regret the first one!

My boyfriend had a 15 year old car, completely knackered. He spent about 5K getting it repaired in the last year, as every month something else was going wrong, using up all his readily available savings, and has just had to borrow 3K to buy a car... I wish he'd packed in the old one a year ago!

bodmil

Ahhh, time for me to buy a car also. Probably something 107-207/KA/Fox-y. Hoping not to spend over £5500 and try to keep insurance and tax down too. Really looking forward to the freedom again but there's so much scary news about insurance and petrol price increases that it's making me very worried. Still, I need a car so will just have to lump it!

Jay_G_5

Hi all, hope you don't mind me joining in. My DRO has come to a end so time to start saving for a house deposit which will have to be huge Just put £250 away this month but should be more once I've sorted a few bits and bobs out.

redbull5

hi jay, great to see you saving, what figure you aiming for?

also hope you dont mind me asking but whats dro?

Jay_G_5

redbull5 wrote: »

hi jay, great to see you saving, what figure you aiming for?

also hope you dont mind me asking but whats dro?

Hi redbull, thinking of £15,000 - £20,000. A DRO is a debt relief order, it is basicly for people who have under £15,000 worth of debt and a cheaper option than going bankrupt. But still shows a black mark on your credit file which makes it hard to get any credit at all, let alone a mortgage so may even have to be more than the £20k that I will need to save :eek:

ElleR

I've subscribed! :j

Been lurking around for a while now, seen all these debt free threads and since I don't have any debts (apart from the student loan:cool:) I really need to save! The last few months have been a bit tight what with car stuff but from now on, no excuses.:p Don't really have a target but aiming for at least £100 a month then whatever is left, split between the ISA and other savings account.

This is the first month I've taken note of EVERYTHING I've spent money on, and it's a scary way of forcing you to really think before you buy stuff!

Oh, also need to pay back my bf for the car, I think he'd appreciate the money sooner rather than later! :T

LucyTheDwarf

bodmil wrote: »

Ahhh, time for me to buy a car also. Probably something 107-207/KA/Fox-y. Hoping not to spend over £5500 and try to keep insurance and tax down too. Really looking forward to the freedom again but there's so much scary news about insurance and petrol price increases that it's making me very worried. Still, I need a car so will just have to lump it!

I try very hard not to look at petrol prices, because I'm in danger of going loony over every 0.1p increase - I sound like my parents when I hark back to how cheap petrol was when I first started to drive... all the way back in 2005...

I looked by mistake yesterday, anyway. Horrified. £1.37 a litre. I accepted it might be a bit higher, as I was in Dover, so I guess it's easy pickings for those just arriving in the UK... but still. Last time I checked it was about £1.20 and I've been steadfastly ignoring the rises since!

rictus123

It is a joke! I have to spend near £150 a month just to travel to and from work. With insurance, tax etc on top the cost must be £200 + a month. Total joke but one i have no choice but to pay.

redbull5

im around £200 a month on fuel alone, and now £125 on insurance and there will be road tax and other things on top of that lol.

and its only going to get dearer lol.

dippykitty

Haven't posted here for a while as I'm waiting for my ISA transfer to finish going through but hopefully will be able to update soon.