How much can you save?

Miski

Hey everyone, I hope it's not too late to join

I've joined the save 12k challenge but I'm hoping for an end goal of 25k by 2014.
I'm sure it'll be difficult but it will be worth it in the long run. I'm blessed at the moment to be debt free and I hope to keep it like that.

Best of luck to everyone

thrifty_fifty

This was just the kind of motivation I was looking for. Will be debt free on 24 feb with £655 outstanding at the mo. I can start saving!!!! I'm hoping between £5, 000-£10, 000 by the end of the year, as I want to build some emergency savings and save for a house deposit. What a difference to previous years. Bring it on!

Castleman

liam1989 wrote: »

im so annoyed and p****d off. i saved my !!!! for 4-5 years (working every hour i possibly could) to save for a deposit for a flat (20.5k). i finally got a mortgage and moved in last month. i then find out that i will need to extend the lease on it (asap - as the price goes up over time, it will be easier to sell, add value to the property etc). ive found out it will be around 5k!!! i cant believe it, i buy a property and yet i still dont really own. f'king country. its a con. just another ploy to line the pockets of others.

my parents say i should relax and not bother about it too much as ive acheived quite a lot at my age (22). but its annoying, that 5k could be spent doing the place up, and maybe actually enjoying myself. thats life i spose : )

i will save about 150 pm, so should take me about 2-3 years......... hopefully!!!!!

You don't have to buy a leasehold flat and you don't have to extend the lease! Surely when you bought it you knew what the remaining lease was and whether you would want to extend it?

lvm

So, my year end totals for 2011 were:

Bigger House - £11,130 (worth around £12.5k as my Dad is using it for his businesses and paying me interest)
Holiday - £700
Car - £500
Virtual Savings - £125.15

Total - £12,455.15

I've also joined the "Save £12k in 2012" so should have £25k by the end of the year. Still won't be able to do anything with it until mid 2014 so more time to save! And more time to search for my dream home!

Absinthe_Fairy

Haven't been on here for ages as I failed miserably to meet my target of £5,000 in 2011. However I should be on track for meeting my 2012 target of £6,000 - hopefully! My very generous grandparents gave me £2,000 at Christmas so that will help :beer:

Suarez

Julz_89 wrote: »

See I still have a balance of £500 on a credit card to pay lol, minimum payment is £27 but ive been paying £50. Instead of putting what I can in my savings account, should I just be using it to pay the card off??

I have £100 in the savings account and dunno if its worth it or getting another kinda way of saving, so confused!

I would use every penny you have spare to get rid of the credit card debt then start a fresh with savings

tara747

Absinthe Fairy - can you grandparents adopt me? :rotfl:

dippykitty

Finally got past the £10k mark! That was supposed to be last year's challenge but didn't quite make it so at least I wasn't too much later in getting there. Next target is £15k in the ISA but this might be a bit steep as my income is likely to come down in the next few months.

scorgeous

Hi everyone,
May I join in please. I am hoping to save £2500 a year for the next 4 years ie 2012, 13, 14 and 15 to pay for a 10th wedding anniversary trip of a lifetime. So far January has started well, I've got £210 in the pot.

sarahcartwright

I am trying to save for the dream trip to Oz. My brother lives in Sydney, but he is moving up to Cairns in September, so I would love to be able to go and see him. For flights and accommodation for me and my husband plus spending money, I think I need in the region of £5,000. Hubby thinks we wont be able to afford it this year. I WANT TO PROVE HIM WRONG !!!!!!!!