How much can you save?

redbull5

Right! ive been doing my spreadsheet so i can concentrate on my savings more!

My Current savings after i get paid this month will be £7500.
My november pay will be used for xmas presents etc so will only save maybe another £500. That will be my total savings of £8000 which im happy about!

Next year its going to be a clean slate, Im going to Max out my Home savers account with £300 a month and then at the end of next year it will be a grand £9000 in that account alone for a deposit in the near future. Im going to put £200 a month into my regular saver so next year i know i will save at least £6k. Any other overtime or spare money will go into a online account which i can use for a holiday or new car!

Its all easy to say and write about, but lets do it.

My target for 2012 is £8000!

TimBear

My aim for 2012 is £10k. It'll be tough but I absolutely know I can do it!

Suarez

TimBear wrote: »

My aim for 2012 is £10k. It'll be tough but I absolutely know I can do it!

I'm aiming for the same on £2500 atm.

TimBear

Suarez wrote: »

I'm aiming for the same on £2500 atm.

I'd like to do £10k alone in 2012, so on top of my 2011 savings. That's the plan anyway.

Good luck to you!

guitarman001

marrylincoln wrote: »

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.

Do you have any tips you'd like to share just now? Or any links to a great website/book?

I'm reading 'The 24 Hour MBA' right now but the accounting section is obvious rather general (and dull). Need to learn more about how to retain more of the money I work for.

guitarman001

RyanEzio wrote: »

Hi all. Seems like ages since I came on here. I used to save £200 a month. But I did my accounts over the past few months and that was a bit too much for my liking. So i've started saving £100 a month. £25 P/W, Doesn't sound nothing fantastic...But I don't even miss it, plus it really is helpful if im saving for a holiday, festival, etc.

I've also found that instead of looking ways to increase money coming in, etc. (Surveys, mystery shopping) look for ways to save money. I managed to save £50-£75 a month on just researching certain deals. Amazing how many people get ripped off. All it takes is 10 mins to research..

These little ways of making extra money I find usually aren't worth it. Too much time and effort for little in return.

guitarman001

After wasting £10k+ on the stock market (well, it's still sitting there at ~75% down now).... I am sticking to 'safe' saving.

Monies in NS&I now ~ £11800.
Savings in Lloyds Vantage ~ £6800.

Saving ~£900 a month but knock some of that off for the big holiday every year, car insurance etc... Let's say £700 a month, so £8.4k a year. I am going to try and push it (probably unsuccessfully) out to £10k if I can manage it. This is all whilst staying at home. If I were paying extortionate rent or mortgage, savings would be pitiful - what is the point? Currently in a great job but would like more money. Have a pipe-dream to work in Germany - would be worse-off financially but I would love the lifestyle change, to learn the language etc.

Anyway... slowly building the savings back up. Gutted at having blown a load but that was the risk I took.

MoneySaverLog

guitarman001 wrote: »

After wasting £10k+ on the stock market (well, it's still sitting there at ~75% down now).... I am sticking to 'safe' saving.

Monies in NS&I now ~ £11800.
Savings in Lloyds Vantage ~ £6800.

Saving ~£900 a month but knock some of that off for the big holiday every year, car insurance etc... Let's say £700 a month, so £8.4k a year. I am going to try and push it (probably unsuccessfully) out to £10k if I can manage it. This is all whilst staying at home. If I were paying extortionate rent or mortgage, savings would be pitiful - what is the point? Currently in a great job but would like more money. Have a pipe-dream to work in Germany - would be worse-off financially but I would love the lifestyle change, to learn the language etc.

Anyway... slowly building the savings back up. Gutted at having blown a load but that was the risk I took.

Been there got the t-shirt, now rather save and build up a fund that way and let the stock market do its own thing.

Hepatitis

I currently have £3400 and aiming at £10,000 to buy a new car.

TimBear

Hepatitis wrote: »

I currently have £3400 and aiming at £10,000 to buy a new car.

Good luck!