How much can you save?

Young_Investor

OK, November update time for me!

I have managed to save £517 this month - so my total now stands at £4,537.

Hopefully I'll be able to get past £5,000 in time for Xmas! I have put some money aside for Xmas already so I 'should' be able to save at least £500 in December (if nothing goes wrong in the meantime, anyway!).

ALM2013

Spam x 2 above users

Yvette394

ALM2013 wrote: »

Spam x 2 above users

Sorry? Was this in response to my post?

ALM2013

No no there was 2 spam posts below you but they were obviously removed lol.

ITS PAYDAY!!!

Goldiegirl

I've done my accounting for the month and £1510 will go into savings.


Also, I'm transferring to savings another £1000. I've built up a balance on my current account from monthly 'underspends'. I've left a small 'float' on my current account, but the rest has gone to savings. [EMAIL="I@m"]I[/EMAIL]'m not sure why I let it build up to such a level, no excuses, I was just a bit lazy!


Won't happen again!

duesouthtwin2

Hi everyone. Thought I would join the ranks and really commit to saving in 2014. I have had a tough year and want control of my life and financial security. I have in my isa £1400. I get paid last day of every month and want to start Jan 2014. I get paid about £1600. Rent,bills etc work out to be £850 a month, I will save £400 a month and have £350 a month to live on (100 for food). If I really commit to saving £400 a month =£4800 a year! I want to live a bit too- odd meal out with friends, theatre ticket - £250 mentioned above. Hoping if I can live on this £350 a month then I can use £100 of it a month for horse riding lessons. My big passion and expense in life is horses and although I want to save money to feel secure, I also want to live life and be happy too. My mission starts in 2014!

tara747

(copied from the other thread)

November update from me:

I managed to save £753 last month - less than I'd hoped, BUT I booked a holiday for next year, which cost me over £600. So I don't mind too much.

My new total is £73,097. I realise that I'm not going to reach £75,000 by 31 December, but I'm ok with that. It's good to have a goal and try your best to reach it!

guitarman001

Well done, tara - enjoy your updates (and your colourful text at the bottom of your message!). I'm back up to £47k, should hit £48.5k before the year is out. Hope to be nearer your figure at some point! What are your savings for?

tara747

guitarman001 wrote: »

Well done, tara - enjoy your updates (and your colourful text at the bottom of your message!). I'm back up to £47k, should hit £48.5k before the year is out. Hope to be nearer your figure at some point! What are your savings for?

Thanks guitarman001!! Well done on your savings too.

I suppose my savings are for a house, but really, since I started saving, I've come to realise the freedom associated with it. I have so many options - start a business, emigrate, take a year off to go travelling etc. House prices have fallen so much here (NI) that I could probably buy with a 5-year mortgage max.

What about you?

guitarman001

For me it's definitely emigrate/house. Housing is more affordable in Scotland than in England but still poor quality and overvalued (and due a correction) IMO. Starting a business sounds ok, I'd love to try and "make it" but my job pays ok and I enjoy it etc... so maybe not keen on the risk. I reckon I'll probably emigrate in future to the US and try to work for a start-up. Couldn't imagine seeing all my savings disappear into a house - you're right... the freedom is excellent. My life is a lot more varied and worry-free compared to my friends who have unaffordable mortgages lasting 25+ years.... UK looks to have long-term serious problems regarding pension unaffordability & retirement age, unemployment, lowish wages, economy based on banking & housing, bad weather ... there are good things, too, but young professionals have to ask themselves if they're really willing to pay for their elders' cosy retirement when they're not going to get the same back.