How much can you save?

tara747

guitarman001 wrote: »

Hi tara,

I'm up to £69k but car insurance has to be paid soon (~£400). Saying that, I hope to have just over £75k (depending on how frugal I am) saved by Christmas. Nowhere near your amount - damn! ;D And double damn, I thought it was £70k.

I have a fair fraction of that in Vanguard Lifestrategy and I'm wondering ..... I'd rather not lose it given this crisis right now...!

I'm tempted to sell some musical equipment - I could raise £1200 or so (and in fact, I need a couple hundred to purchase some other equipment). Likely I wont, though!

Will be gutted to see the money fade away but it's meant to be used - would rather see it used than erode to zero through inflation.

I MUST ask. Where do you put yours? I've filled up the "main" recommended accounts and money is overspilling and adding every month - not good!

I actually foresee myself buying a new (used) car at some point which will put a dent in things.

I have almost £60k in my ISA It was fixed at 3.2% for the last 2 years, but rates are lower now, so it's currently paying 1.7%.

I've also maxed out a Santander 123 account, 2 TSB 5% accounts, and also have a Halifax Reward account (I had 3 of those until recently, free £180 a year!).

mrspsaver wrote: »

I just found this thread and would like to join for a bit of motivation. I used to read a lot of the DFW threads and diaries while I was clearing our debts and it really helped me not to loose track.
I am trying to save to buy a house hopefully as we are still renting and I am not as young anymore, nearly 40. . My salary varies based on commission so some months I can save a lot and others not. If I only receive my basic pay I can only save £600, so my main aim is to work hard so I can get lots of extra on top. At the moment I have £24,400 saved. I would like to get to £35k by end of the year, not sure if I will reach that as this means I'll have to save over 2k a month, but hopefully I'll have a few good months towards the end of year to help.
I am very impressed with all your guys savings. Tara you are doing really well with your savings, I have never even imagined having this level of savings, you will reach 100k in no time!!

Thanks mrspsaver, and welcome to the thread!

dippykitty wrote: »

I am Nothing like as excited as you must be though!

Haha dippykitty, so true! How are you doing?

alflavor

Keen to join this thread to too, to get spurred on. I'm 38, and saving for a house, with my fiancee, aiming for £10K if we do it on Help to Buy (Equity Loan) on a new build, or £15K if we buy locally, existing build.

We are also saving for our wedding, Sept 2016, estimated cost £7000

Currently we have £2100 in Zopa, and we add £100 p/m to it. Ideally I would like to leave this alone for the next 10-20 years!

We have an ISA with £2300 in, and we are adding between £600-£900 p/m at the moment. We have spent a bit over the past year - £1000 on new furniture for our rented home, and £2000 on a car for my step-daughter. But we plan to have this money back in the ISA within a year of taking it out.

We haven't had a proper holiday for 2 years now, and apart from a mini break in a few weeks we won't be doing anything too extravagent for a while!

It sure is hard!

dippykitty

tara747 wrote: »

Haha dippykitty, so true! How are you doing?

Just snuck past the goal and am now at £25,170

Great to see you've gone over the £90 000 mark!! What's the next goal you've set yourself?

mrspsaver

I have saved £1676.19 this month, which brings my house deposit savings total to £26,076.19. A bit short of the 2k a month needed to reach my target, but we are going on holiday next month and I had to separate the spending money already. At least everything is paid for and next month I should be able to save over 2k hopefully.

Congratulations Tara on passing 90k!! Thats a real achievement!!

tara747

alflavor wrote: »

Keen to join this thread to too, to get spurred on. I'm 38, and saving for a house, with my fiancee, aiming for £10K if we do it on Help to Buy (Equity Loan) on a new build, or £15K if we buy locally, existing build.

We are also saving for our wedding, Sept 2016, estimated cost £7000

Currently we have £2100 in Zopa, and we add £100 p/m to it. Ideally I would like to leave this alone for the next 10-20 years!

We have an ISA with £2300 in, and we are adding between £600-£900 p/m at the moment. We have spent a bit over the past year - £1000 on new furniture for our rented home, and £2000 on a car for my step-daughter. But we plan to have this money back in the ISA within a year of taking it out.

We haven't had a proper holiday for 2 years now, and apart from a mini break in a few weeks we won't be doing anything too extravagent for a while!

It sure is hard!

Welcome to the thread alflavor!

mrspsaver wrote: »

I have saved £1676.19 this month, which brings my house deposit savings total to £26,076.19. A bit short of the 2k a month needed to reach my target, but we are going on holiday next month and I had to separate the spending money already. At least everything is paid for and next month I should be able to save over 2k hopefully.

Congratulations Tara on passing 90k!! Thats a real achievement!!

Thanks mrspsaver and well done on your savings too! :T Enjoy your holiday.

dippykitty wrote: »

Just snuck past the goal and am now at £25,170

Great to see you've gone over the £90 000 mark!! What's the next goal you've set yourself?

Whoop, well done dippykitty :T I'm really chuffed for you!

My next goal is the big one - £100,000. I was hoping to reach it by Christmas, but realistically it'll be next spring/summer. :A

GTR_King

I am trying to save as much as I can at the moment...

I have just over 9k at moment at the start of the year I only had about 4/5k

I am trying to make sure I have 8/10K left after I have paid for my holiday to Berlin (October) & My holiday to Newzeland (20th Dec/6th Jan) including flights Accommodation/meals etc... I think I can achieve it if i try hard enough

dippykitty

tara747 wrote: »

Whoop, well done dippykitty :T I'm really chuffed for you!

My next goal is the big one - £100,000. I was hoping to reach it by Christmas, but realistically it'll be next spring/summer. :A

Aw thank you!

Wow, can't ever imagine having £100 000! Does it ever feel a bit like Monopoly money? Sure you'll make some good headway on that goal by the end of the year

tara747

August update from me:

I saved £852 in August, which brings my 2015 (so far) total to £6,496 and my overall total to £91,335.

tara747

dippykitty wrote: »

Aw thank you!

Wow, can't ever imagine having £100 000! Does it ever feel a bit like Monopoly money? Sure you'll make some good headway on that goal by the end of the year

Yes, it does seem that way tbh! I find it hard to see it as real money, it's just figures on a screen. And if I buy a house, I'll never see it IYKWIM?

When I reach £100,000, I'll treat myself to something frivolous that I really want (haven't decided what yet).

dippykitty

tara747 wrote: »

Yes, it does seem that way tbh! I find it hard to see it as real money, it's just figures on a screen. And if I buy a house, I'll never see it IYKWIM?

When I reach £100,000, I'll treat myself to something frivolous that I really want (haven't decided what yet).

Totally makes sense!

Excellent, you really do deserve a good treat!

My savings have not seen much progress lately unfortunately. I've finally set up a personal pension (I'm self employed). Then I had a big flare-up of my uticaria (hives basically), which seems to have been triggered suddenly this time by chemicals in my usual toiletries so I'm having to chuck them and replace them with chemical-free versions and it's turning into a much more expensive time than I anticipated!