How much can you save?

save-a-lot

Hi Jamie

Well done and welcome as a fully fledged saver.

Woodyrocks

Good on you Jamie

savingforoz

Jamie, that's great news, welcome to the savings forum at last :beer: ! I am so pleased for you :j . Make sure you put yourself on the Roll of Honour sticky on the Debt Free Forum.

moneysavingwannabe

Hi Jamie,

CONGRATULATIONS!!! :j

Good luck with the shed, sounds like it will be a bit posher than just a shed tho!

I am nearly ready to swap places with you! LOL.
My builders are meant to be starting at the end of August. So I will be joining the debt free wannabes. :eek:

mouche

Hi,

I'd like to join this board. OH and I are saving to buy a house but since we live in London, even saving a 5% deposit is a big challenge, even though we both have reasonably well paid jobs.

Apart from the big one, I've also started up little pots for things like the money we send to my mom in law in India once a year, the money pot for my in laws to visit us in the UK (tickets, visas, insurance, spending money - luckily my parents can afford to visit on their own!), etc. etc.

So far we've managed to save:

House deposit fund (to include £5000 for emergencies and £5000 for stamp duty, legal fees etc.)
My Cash ISA: £4000
OH'S Cash ISA: £4100
My Regular Saver: £2250
My online saver: £500
Total: £10850

Other funds
Mom in law's annual spending fund: £20
In-laws UK trip fund: £340
Contingency fund: £20
Holiday fund: £40 + £140 in vouchers
My saving fund for OHs birthday/anniversary gift: £0 (just emptied)
Weekend course fund: £40
Driving lessons/ Car fund: £25 (just spent £45 on OHs learners application)
Going to the theatre fund: £120

P.S. - Could someone send me the spreadsheet for calculating the Olympic goals please?

cashsaver

I would love to join in.... recently debt free (cleared off £21000 of debt and now want to make sure our spare cash goes toward a deposit for a house. In our early forties and have three young boys so really need a substantial amount for a deposit on a house to fit us all in (and the puppy who is now definitely not puppy sized!!!!!!). The bigger amount we can save the better so as we dont have too scary a mortgage as we are real late starters due to getting our fingers burnt previously:eek:

Please give us advice about what to do if we do not know know what our exact income will be. Do we adjust the amount as we go? Silly question maybe?!!
So far we have £5000 approx in ISA accounts which equates to approx 7.2% . When is the challenge over or does everyone have a different starting point? Loads of questions but I need to get things as straight as I can in my head !!!!!!!!!!!!!!!

hobbesandco

I was made redundant last year and only started saving again this February when I started my current job. My partner & I save about £2000 a month + £400 in my pension + £200 in my partner's pension. Do pension contributions count in the Olympic challenge?

save-a-lot

hobbesandco wrote: »

I was made redundant last year and only started saving again this February when I started my current job. My partner & I save about £2000 a month + £400 in my pension + £200 in my partner's pension. Do pension contributions count in the Olympic challenge?

Hi

I have not counted pension contributions in the savings challenge, I have never thought to, if I had I would have hit gold already. How about calculating the challenge for both and have two results for the challenge.

JAMIEDODGER

hi guys, well its just a start but i have saved £20 out of last weeks housekeeping money. I should be able to save more next week and perhaps a larger lump sum at the end of the month. It feels really great to finally be here and in the black:)

msw - the dfw board is fantastic, and before you know it you will be saving again!

Tues-Onward

Ever since I was a child my parents taught me to save, save, save. Probably why I've never had much troubles with doing it. Only problem is now its difficult to make decisions for spending O.o Not much a problem I suppose.

But i've been contributing a hefty 8% from work to my pension for the last 10 years...something good to come for when I retire.