How much can you save?

maryjanell79

good thread!!

I am currently a single parent renting and have been trying to put some money together for a deposit on a small flat.

So I have 2k in a cash isa and 1k in a stocks and shares isa and I too am hoping to get to 15k by this time next year.

Any tips or ideas?

useyourillusiontoo

maryjanell79 wrote: »

good thread!!

I am currently a single parent renting and have been trying to put some money together for a deposit on a small flat.

So I have 2k in a cash isa and 1k in a stocks and shares isa and I too am hoping to get to 15k by this time next year.

Any tips or ideas?

It sounds like i'm a proper skinflint but never buy anything unless you need to to survive. And brew your own beer

Esmond3

Hello Every One !!!
Obtaining witnessed with additional boards the influence regarding support it becomes wonderful to get a group of savers who encouraged each other. In case you have enough time to be able to muck around with a lot of reports and transfer all of them around from a yr. That could be wonderful! The greater men and women spurring people with implies all of us must be able to pay for this a good deal sooner.

juniorthrifty

Dazza86 wrote: »

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?

Thanks.

My income varies between £650-£750 a month and I save between £470 - £550 a month. But I usually save £500 on average. I give myself an allowance of £40 a week to live off, and allow myself to go over if I need to. I am currently a student at university so my accommodation is paid for by grants and bursary.
I am naturally a frugal person so in the future if I earn a salary like £27000. I expect to save more than I am saving now.

EDIT: I am 19 years old working part-time.

summertea

I think its interesting how much of their earnings people save.

My net yearly income is probably about £17,000, i save about £4,500. I could save more and sometimes i do but i'm not content to spend my life merely experiencing the inside of my house. I can cut back on entertainment and find free things to do but sometimes i find i feel guilty for spending any money even for things i need (e.g. food).
Does anyone else get this?

nat21luv

All the time. I feel guilty for buying 10p packs of haribo instead of a £1 pack, I think 'that 10p would be better off in my savings account'!! I'm saving as much as I can as fast as I can and even just 10p makes me feel sooooo guilty. I've switched to value everything(unless next brand up is cheaper/have a coupon) even toothpaste! I do budget for everything and I'm trying to reduce my food bill constantly, at least I'm losing weight!

Saving_NOW

summertea wrote: »

I think its interesting how much of their earnings people save.

My net yearly income is probably about £17,000, i save about £4,500. I could save more and sometimes i do but i'm not content to spend my life merely experiencing the inside of my house. I can cut back on entertainment and find free things to do but sometimes i find i feel guilty for spending any money even for things i need (e.g. food).
Does anyone else get this?

I do but my husband is much more relaxed and once i've chatted to him about my unwillingness to spend he will always tell me 'there's always next month to save go and get your self that bar of choco you want' or whatever it is, my weakness is new yarn as I am a mad knitter hahaha I wonder if my back garden is big enough for a sheep then I could spin my own yarn :rotfl: (think im taking this saving way to seriously)

The way I look at it is save as much as is comfortable to you and don't skint yourself for the sake of a few quid here and there. Tomorrow might never come but in all probability it will so be prepared.

pay day for my hubby is on 31st mine on 1st this time so will update my sig but don't think I have been able to save anywhere near my target looks like it will be around the £650 mark had a flight to pay for my husband he will pay it back into savings though.... we will see.

Derbyshire building society have a regular saving account for 5% I noticed I might open one to put my holiday saving in.

Saving_NOW

Esmond3 wrote: »

Hello Every One !!!
Obtaining witnessed with additional boards the influence regarding support it becomes wonderful to get a group of savers who encouraged each other. In case you have enough time to be able to muck around with a lot of reports and transfer all of them around from a yr. That could be wonderful! The greater men and women spurring people with implies all of us must be able to pay for this a good deal sooner.

Is there a hidden message to be found in this post? Its like a cryptic crossword clue from the Times (of which I can never figure out) answers on a postcard please

Dazza86

Interesting to see people's replies to my previous question. I think it's really interesting to see how others are doing and how much they're able to save off of it.

I think my costs of living might be quite high. I'm 26 and we partly own our flat in Greenwich, London. It is expensive here, but all in all, my Fiance and I save £700 a month, with £100 of that going into an investment account through Fidelity. It should also be going up very soon as my better half is due a sizeable promotion.

Existing student loan is annoying (that's a heads up juniorthrifty!!) and my business loan is £2700 outstanding, which should be gone in the not too distant future. Once those are gone, there's an extra £200 I will be saving from my side.

Anyway, I'd love to keep reading what you earn/what you spend. Enables me to put my life into perspective!

Luke273

Hi guys,

I'm currently a student, however I'm on placement this year earning a £15,500 salary. I thought this would be a great time to start saving for life after university. I'm able to save around £350 a month, and I have currently saved up £2,800. I'm hoping to have at least £5000-6000 by the end of this placement in August, and then also save a further £4000 for my final two years at university (as I usually get too much student finance). I'll be really pleased if I can get £10000 savings by the end of university!

After that? I'm hoping to get a secure job whilst renting in a city centre, and with no other commitments, hopefully continue saving. But that's a good two years away! Short term goal, £10k by 2015 for a student?! I hope so!