How much can you save?

tara747

Payday update!

I managed to save £1,142 in November, bringing my 2014 total so far to £9,565 and my overall total to £83,688. Whoop!!!! :beer:

dawyldthing

juststuff123 wrote: »

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

I have just reached my 20k savings goal, and had planned to start funneling new savings into my mortgage, but chickened out at the last miniute and opened two new Tesco 3% (Pre tax) current accounts so I can save a further £6000 before I start hammering down the mortgage.

All my savings rather than a bit I saved back went on the mortgage or refurb within the space of a few weeks. But it felt great as I knew I was paying it off which would save more in he long run when it would be paid off so wouldn't have to pay a mortgage any more. Short term pain for long term gain I recogn

guitarman001

tara747 wrote: »

Payday update!

I managed to save £1,142 in November, bringing my 2014 total so far to £9,565 and my overall total to £83,688. Whoop!!!! :beer:

I spent close to that amount on new musical gear recently... oh the shame! My total comes close to £58k just now and will be ~£60k by the end of the year. I half-regret buying the gear as that number would be closer to the £70k mark...

Kernow666

look at the 1st page of this thread some of the interest rates we used to get and only 8yrs ago

The_Laisy_Daisy

So erm, 9 years on can I join your group please? Or is there a new one for us newbies starting with £0?!

MissyD_2

juststuff123 wrote: »

Can I ask a question?

I see a lot of people on this thread are saving for House deposits, how do you feel when you spend the money and loose that comfey safety net?

At the moment I'm about 5/6 weeks from completion....and I'm bricking it!
I remember writing an email to mortgage advisor last month asking when I'd be expected to part with it and I found I had sweaty palms just typing the question out!

I'Il have to update you again and about how I felt when my account got emptied and transferred into collateral in my house!

tara747

Helloooooooo

I haven't been on here in ages! Didn't even do my 2014 end-of-year update! So here it is:

In December I saved £1,151, bringing my 2015 grand total to £10,716 and my overall grand total to £84,839. YAY. :beer: :beer:


I then had a very expensive January (dental work and paying the balance of a holiday), so my total for the month is -£931 :eek: - which brings my overall total savings to £83,908. Strangely, the same thing happened last January!

I'm hoping for a better February lol. Roll on payday!!!!

tara747

February payday update! And it's been a good month, savings-wise.

I saved £1,417 this month which brings my 2015 total to £486 (thanks to that minus figure in January lol) and my overall savings total to £85,325. I'm FINALLY through the £85,000 barrier, whoop!!!! :beer:

savings_my_hobby

tara747 wrote: »

February payday update! And it's been a good month, savings-wise.

I saved £1,417 this month which brings my 2015 total to £486 (thanks to that minus figure in January lol) and my overall savings total to £85,325. I'm FINALLY through the £85,000 barrier, whoop!!!! :beer:

thats great Tara747 - perhaps it's time to think about the fscs £85000 bank guarantee, assuming its all in one account, p.s well done

tara747

savings_my_hobby wrote: »

thats great Tara747 - perhaps it's time to think about the fscs £85000 bank guarantee, assuming its all in one account, p.s well done

Thank you!

It's well spread out across banks with all the high interest current accounts. Most is in Santander (inc £20K in a 123 account and around £40K in an ISA at 3.2%), but I will be careful not to exceed £85K in savings in any one bank/banking group.