How much can you save?

Starbrite

fruityfairy wrote: »

Lol, I was the same. Was broke by payday, but I enjoyed my life.

I have been doing the no spending days too, I am quitting smoking so Tues & Wed I did not bring my purse to work so I could not buy any cigs! I take my lunch to work so I do not need cash for anything. Although I nearly had an embarrassing situation when I pulled in for petrol on my way home yesterday. Luckily I realised I had no purse and carried on my way :cool:

Oh good luck with the quitting sounds like not carrying money with you is helping, Yes I bring my own lunch to work apart from one day of mth pay day when I treat myself to a brought lunch and remind myself how much nicer my lunches are

LOL glad I'm not the only one who has done that at the petrol station, I left my purse at home so I wouldn't spend passed a petrol station with cheap petrol, So I stop popped the petrol cap stood the lefted the nozzle gun thing about to stick into my tank then realised I had no money on me, So quickly put it back and drove off! People must have thought I was crazy or something!!!

redbull5

fruityfairy wrote: »

Well done redbull5!! I wish I had your sense when I was 18. I was still spending like I was 16 & loving it up to about 6 months ago! Im 25 now and just started saving 6 months ago for my first home deposit.

Thanks very much, hopefully just be sensible for the next while and save a few thousand.

Save to xmas then maybe get a few things.

with more money im sure im paranoid with money. its annoying

jules888

Hubby and i are saving 30k towards moving house in 2 yrs time.We hope to get 30k from our endowments then too as we reckon at todays prices we will need about 60k to get the house we want.We need a lot of new furniture too so will need about 3k for that. Weve paid our mortgage off on the house we live in now and definetely dont want another one!We have 15k saved up to now so its going well and have enough money for next yrs hol at Easter.

guitarman001

Well... my 'investments' tanked quite a while ago. I still hold some (4 year horizon) however you would go pale if I told you just how much I've lost. Managed to get 4.4% on a gold holding, but then sold out during the recent dip (now back up, damn) as was scraed of losing more - decided now to stick to traditional savings accounts even if they do pay a paltry 3%. Can't afford to lose any more money.

Savings building up again but slowly. £12k in NS&I index-linked, £6k in Lloyds Vantage.. and technically £10k in shares (though they are down 50% - and that's not the worst of what's happened..!). A bit gutted but hey. And there's no WAY I'm going to even THINK about buying a house - I see a prolonged depression in the housing market. I would be buying as a *home* if ever - as an investment a house is going to be very, very poor over the next decade I believe (over the last decade it was one of the worst performers compared to gold & fine wines, I don't know why anybody would buy it as an investment at all - especially parasitic BTL which is too hands on and removes homes from those who want to buy themselves!). I love my job, my boss is amazing, the work is fascinating, but seeing the rates of pay in Europe/US... I am thinking of a *possible* move in future (unless I manage to get a raise). Imagine renting in Vienna for 5 years as opposed to *buying* some undersized hovel in Blighty! My only saving grace right now is that I live at home. This is becoming untenable, though the savings (~£800 a month) are decent. If I were to move out to rent here, my savings would be next to nothing. Renting abroad? I'd probably maintain the equivalent level of savings with expected salary increase.

So, a bit grim. Despite all this I'm booking a holiday to Disney Florida next year - got a good deal and it's only going to get more expensive. 27 next month. Student loan knocked down from £15k to £10k (comes off my salary and I also pay off an extra £150 a month). That loan is a real downer. Makes me realise a mega mortgage just would not suit me at all - too much of a millstone.

tinkerbel

Guitarman I'm sure you're aware but watch put for lloyds vantage because they changed all the terms adlnd I don't know if it's still good to have 6k in there..?

MoneySaverLog

tinkerbel wrote: »

Guitarman I'm sure you're aware but watch put for lloyds vantage because they changed all the terms adlnd I don't know if it's still good to have 6k in there..?

You're right, they only pay interest for the first £5,000 anything over this does not earn any interest. You can however have up to 3 vantage accounts so £15k total.

guitarman001

Woah, I knew about the interest rate coming down, but now they're only payng interest up to £7k rather than £5k? I double-checked (not that I don't believe you) and it is true! Disappointing... However this information is very much appreciated (I've just had to redistribute the money in my two Vantage accounts).

You guys still think Vantage is a good deal? I guess 3% is still one of the better rates, and it's easy access...

Thanks!!!!

bodmil

You can get a Lloyds incentive saver at 3% with no need to swap money around and instant access. it's not advertised so you have to ask for it.

MoneySaverLog

bodmil wrote: »

You can get a Lloyds incentive saver at 3% with no need to swap money around and instant access. it's not advertised so you have to ask for it.

I thought that you had to apply for that account by a certain date to qualify for it, is it still available now?

marrylincoln

This is good way but i recommend you to learn accountancy tips.It will help you to manage your budget and get maximum profit. There are certain plannings which are required to learn to increase savings.