How much can you save?

save-a-lot

The_Fiddler wrote: »

What are the different novel ways that people are trying to save?

I have been buying Christmas presents throughout the year and started in early March. I now have Christmas pretty much sorted. Using the benefit of time it is easier to buy wisely, and buy at a pace that suits saving. It also allows you to buy when deals are good. In November and December the pressure is on and it is very easy to over-spend... do it early and then relax more at Xmas.

This is the first year I have done this and it is brilliant. Next year I will use the January sales to buy a few things. Also, to cover Xmas I save Morrison's saver stamps - by Xmas I will easily have £150-£170 saved that way (I know not the best saving technique and better off keeping that money in a bank... but once the stamps are bought they are bought and cannot be spent on anything else).

For Xmas stuff I keep an eye on Tchibo as their stuff is usually pretty good. Also, DVD offers from the many online stores, HMV etc.

HTH

save-a-lot

The_Fiddler wrote: »

What are the different novel ways that people are trying to save?

Myself and my wife empty our wallets/purse at the end of the week and all of the coins go into my daughters Save4it moneybox. I see this as investing in the future, her future... I believe the more money my children have saved, the more independant they will be financially when they are older. Doing this (along with a regular monthly standing order) soon builds up and now she is pretty rich for a 3.5 year old - it is amazing how regular saving builds into a nice pot.

I think that saving on behalf of my daughter opens up another secure pot of money that shall not be raided. So this is a good way of saving and there are downstream benefits such as my children having their own money. Hopefully, doing the drip, drip approach over many years will build up a decent pot of money... and also will avoid the bank of mum and dad requests in the future.

It is all about forward planning.

Woodyrocks

JAMIEDODGER wrote: »

How are things going for you woody? Are you still saving?

Hi Jamie. Have £1500 to pop into the bank tomorrow and all of it is destined for the savings pot :T Things are picking up once again and I hope it continues as I am now past 20K and would love to save another 5k by December especially now that I am finished at Uni and able to focus once again on earning :j

JAMIEDODGER

Woodyrocks wrote: »

Hi Jamie. Have £1500 to pop into the bank tomorrow and all of it is destined for the savings pot :T Things are picking up once again and I hope it continues as I am now past 20K and would love to save another 5k by December especially now that I am finished at Uni and able to focus once again on earning :j

well done you:T and fingers xrossed for you reaching your goal!:D

JAMIEDODGER

save-a-lot wrote: »

Bike trailers only have a certain shelf life because of your children getting older, so it has the resale value to consider when you make your calculations.

thanks for that save a lot, i hadnt thought of that! DS1 has decided he rather likes my bike (his needs a new chain) so took it out for a spin with his mates yesterday:) we are now bike sharing lol very MSE

save-a-lot

The_Fiddler wrote: »

What are the different novel ways that people are trying to save?

Hi

Every July at work I have to make choices as to the benefits I receive, so I can buy more holidays for example, change my pension contribution, buy life insurance etc. Anyway this year I have opted to do Additional Matched Contribution's (AMC's) and this means I contribute then the company contributes the same. I have opted to save 5% which equates to £104/month. Work then tops this up with £104, so I am now getting £208/month invested in high risk funds (my choice to go high risk). I am on a final salary scheme, but by taking out AMC's another pension pot is opened called an investment account.

This is a novel way of saving answering your question as I am taking advantage of free money contributed by work.

So, my monthly contibution is 12% into final salary scheme / 12% matched into that from company... and then 5% into AMC fund and 5% matched, so a grand total of 34% contributed into my pension pots.

bails

Wow, everyone is doing really well with their saving, that's brilliant! That matching scheme sounds like a great idea - shame I can't see my employer opting for that when I finally get back to work ha ha!
Without a salary, it's more a case of trying not to spend as much of my savings as possible ie saving my savings! to eek them out as long as possible. I'm hoping to start some work again in October (although this won't be paid) - it's the first big step back onto the employment ladder though and I can't wait!!

bails

Been looking for info about the Olympic Challenge - can someone tell me a bit more please and where to find it?

Thanks a lot!

bails

WOO HOO! Just converted some unused Euros - a few pence short of £89!!:j Banked, ch-ching! :T

I'm on a roll :rotfl:x

Vicky82

For a few days at least I have made my target, and a wee bit more!

I have, however, just written a cheque for my mate for our holiday so in a few days in will fall just under.

But for now.

WOO HOO!!