How much can you save?

tara747

Happy birthday redbull5, and good decision on the phone.

Barros

managed an ok'ish month this month, saved 1100 quid but then i have 3 wks to payday and debating on going out to dinner tomorrow!!

redbull5

Thanks all, managed to spend a massive £120 on 1 night out lol, only 18 once though. Still got £250 from my birthday spare so that will mostly be getting saved. Wont be going out much if thats how much going out costs. Mind you i had far to many.

tara747

I'm just totting my up my bank accounts for April and seem to have saved only £582. In fact, according to my records, my total spend (inc. rent, food, bills, holiday money etc) was only £868, which should mean almost £1,200 saved. I am slightly concerned about this!

I may need to check to see whether my March calculations were incorrect.

ETA: March seems in order. Still confused!!!!

tara747

You're right redbull5 - you're only 18 once, glad you had a good night.

bodmil

Tara I have a similar bust! Very confusing but I can't be bothered to sit down and work it out! It's a bit tricky just having bought a car, now need to tax and insure it so big chunks of money are flying everywhere!

tara747

bodmil wrote: »

Tara I have a similar bust! Very confusing but I can't be bothered to sit down and work it out! It's a bit tricky just having bought a car, now need to tax and insure it so big chunks of money are flying everywhere!

It has really bothered me! I wonder where the difference is. I will get to the bottom of it lol.

Savings Dave - well done! :T BTW, I never count my pension in mine as I am lucky to have a generous final-salary public sector pension with v. low contributions, and I thank my lucky stars for that.

EagerLearner

Bodmil sorry no idea about Ltd company but see what your accountant says - good luck!

Saved £250 today for May and hoping to put another £200 into the ISA later this month as that will finalise my ISA for the year.

After that we either start to fill OH ISA, or, start to pay more off the mortgage, but we have a baby on the way so have to see what's best.
We would need to use £8k of our savings towards the mortgage to make a real difference before our fixed deal ends in Dec, scary decision!

fkerr

I'm 27 and looking to save £50k for a new house deposit in the future. I have no savings as of yet so going to start saving from the end of this month after being paid. My current monthly net pay is approx £1,600 and have a mortgage of £98k so looking to save about £300 per month. My flat is worth about 175k and have a car worth about £7k and pension fund of approx £13k so not in too bad a position but living in my overdraft just now which I need to get out of.

TimBear

Not updated in a long time!

Savings were off to a good start in 2011 but then had car insurance and road tax to pay for so that took a fair chunk of money, along with a few lax months on my part anyway.

So now, I have saved around £600 this month taking my total up to £1561.

I have budgeted £790 savings for this month's pay day, which is around 50% of my take-home pay which I'm pleased with.