How much can you save?

Saving_NOW

lbnblbnb wrote: »

Very pleased to be beginning 2013 with no debt apart from the mortgage and savings started. Paid off £8,300 worth of debt this year and now have £2,500 in my emergency fund. Planning on building up my emergency fund, then have to decide whether to pay off mortgage or save or a balance between the two. I now know I can put about £1000 a month away consistently. What a difference from last year!

So 2013 is the year!!! What a relief it must be for you to be debt free and now very much in the black with your emergency fund well done :T I am enjoying seeing my savings grow month on month and although it's started small it soon mounts up. This web site and forum has helped me so much over the past few months and knowing I have to update my sig every month keeps me from going crazy spending on things I just don't need.

Look forward to seeing your progress this year

kansaskitty

lbnblbnb wrote: »

Very pleased to be beginning 2013 with no debt apart from the mortgage and savings started. Paid off £8,300 worth of debt this year and now have £2,500 in my emergency fund. Planning on building up my emergency fund, then have to decide whether to pay off mortgage or save or a balance between the two. I now know I can put about £1000 a month away consistently. What a difference from last year!

Wow well done to you, this sounds brilliant. This is the dilemma we are in, hack away at the mortgage or build up some savings. We've got a meeting with our mortgage provider tomorrow to ask about cutting down the years/upping the payments and see where we're at. Good luck on your savings journey, well done once again! :j

lbnblbnb

kansaskitty wrote: »

Wow well done to you, this sounds brilliant. This is the dilemma we are in, hack away at the mortgage or build up some savings. We've got a meeting with our mortgage provider tomorrow to ask about cutting down the years/upping the payments and see where we're at. Good luck on your savings journey, well done once again! :j

Thanks Kansaskitty, good luck to you too! I have raised my mortgage payments today from £360 to £500, will save the rest and decide in a while how best to use it.

lbnblbnb

Saving_NOW wrote: »

So 2013 is the year!!! What a relief it must be for you to be debt free and now very much in the black with your emergency fund well done :T I am enjoying seeing my savings grow month on month and although it's started small it soon mounts up. This web site and forum has helped me so much over the past few months and knowing I have to update my sig every month keeps me from going crazy spending on things I just don't need.

Look forward to seeing your progress this year

Thank you Saving-NOW, hope 2013 is THE year for you too!

Ronnie_Fresh_start

Its the beginning of the yr and i have renewed focus, i joined this group in 2012 same time, have not been updating regularly as i fell into some debts and have to support family financially....to cut the long story short..I AM FOCUSING ON MYSELF THIS YEAR....2013 i am here to stay on this forum..the encouragement is so inspiring

PLAN
Save for mortgage ? this yr aim- £20, 000:T
ISA-£11,259:j
DEBT-£3000:(

tonydisalva

Hi
very good information about the saving the money in different location will discuss about as.

FlareStar

Hi All!! Happy New Year!!:beer:
congratulations lbnblbnb on starting 2013 debt free!!!

I haven't been on here for a looooong time - (my last visit to this website was logged as 19-12-2011:o !!! i know.....) and i neeeed help!

2012 was... a bad year for me financially.....i dont have many outgoings each month and yet i have next to nothing in my accound at the end of each month...I conclude that ive been spending money on absolute rubbish......my savings last year took a major hit - an embarrassing amount was saved.

ive been sitting here trying to work out what and where i have spent /saved and its as though i have forgotten the basics of saving - feeling pretty ashamed so i turn to you guys ......

New year, new outlook - i have an ISA which im trying to fill first and foremost, next......i dont know. Any advice is much apprieciated guys.... my goal is trying to save as much as i can to have a secure future, ultimately i would like to save for a deposit - but that is the long term goal, short term goal is to save as much as i can by august as this is when my work contract ends and i need to make sure i am covered whilst looking for work after this.

thanks

tara747

FlareStar wrote: »

Hi All!! Happy New Year!!:beer:
congratulations lbnblbnb on starting 2013 debt free!!!

I haven't been on here for a looooong time - (my last visit to this website was logged as 19-12-2011:o !!! i know.....) and i neeeed help!

2012 was... a bad year for me financially.....i dont have many outgoings each month and yet i have next to nothing in my accound at the end of each month...I conclude that ive been spending money on absolute rubbish......my savings last year took a major hit - an embarrassing amount was saved.

ive been sitting here trying to work out what and where i have spent /saved and its as though i have forgotten the basics of saving - feeling pretty ashamed so i turn to you guys ......

New year, new outlook - i have an ISA which im trying to fill first and foremost, next......i dont know. Any advice is much apprieciated guys.... my goal is trying to save as much as i can to have a secure future, ultimately i would like to save for a deposit - but that is the long term goal, short term goal is to save as much as i can by august as this is when my work contract ends and i need to make sure i am covered whilst looking for work after this.

thanks

Hey, don't feel ashamed, we've all had times like that when it seems an uphill striggle or we fritter money away on crap. You have a good attitude xx

lawstudent

Went into my local Barclays branch today and got my standing order set up so thats £250 into the regular saver every month. I also managed to open the 2.35% Marks & Spencer account the other day before it disappeared so when my student loan comes in that can go in there.

Dazza86

Hey everyone,

Just wondered how much people were earning to be saving the amount they are?

I'm personally at this moment earning £27,000 and am saving around £350 a month, with all bills paid (including the one-off yearly costs like car insurance).

How does this compare to you guys?

I do also have a business loan that I'm still repaying and my student loan (I'm 26). But hopefully once they are out the way, the sky's the limit!

Thanks.