How much can you save?

jovichick123

Hi all,

Just wondered if I could join in?? I need to save £3500 by June (ish) next year in order to be able to buy a house with the homebuy scheme next year.
Saving starts properly in September, am aiming to save about £400 per month - am going to have a look at saving options now!!

Thanks,
Sarah

Joscar

I submitted my self assessment tax form last week and just got the rebate back. Also got told that I will get my 6 monthly bonus next week, neither were included in my budget so will boost my August savings. :j Although I usually try to use the bonus to spoil myself or do something fun.


I'll have to think about it as if I save the bonus it may be enough to get to gold by the end of the month.

save-a-lot

Hi jovichick123

Yep join in here.... friendly bunch

JAMIEDODGER

hmmm.SPAMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM

cookie9

Great to see how well everyone is doing. I'm just off to do some research to claim back tax on my union dues - as I have 3 years worth then this should be a reasonable sum. Can't wait until next month as that's when I get my pay rise.

chufocus

Can I join please....:o

I am 39 and so far I have:


£1500 – ING Direct 5.0% transferring to ICICI 6.3%
£3000 – BMW Cash ISA 6.7% fixed for 12 months
£500 – RBS Instant access
£4000 – 60 day RBS transferring 2K to ICICI
£1400 – current account transferring to ICICI
£84K remaining on my mortgage.

With a sort….

£4900 – ICICI (paying in £250 monthly)
£3000 – BMW Cash ISA (paying in £3K yearly – company Bonus)
£500 – RBS Instant access (paying in £50 monthly)
£2000 – 60 day RBS (Emergency monies)


I am not aiming for anything at the moment; just so fed-up of being poor! Would be nice to watch our monies grow as we do our gardens. ;-)

Good luck every one and thanks for all the great advice. I love this forum.:T

Woodyrocks

Hey Chufocus welcome to the club Sounds like you are off to a great start!

chufocus

Hey Woodyrocks, thanks and how are things with you?

evab_2

I haven't posted on here for ages as I haven't been able to save anything as yet towards my £12000 target, I really need to sit here and write out some encouraging messages to myself.

I did start to make progress but then things always upset the plans! I changed my life insurance and then set up a direct debit to my ISA for the difference I'm saving, then I got a letter from elec/gas company that monthly payments are going up. I'm still going to keep the DD as something needs to go in regularly.

However some lights at the ends of very long tunnels:
* Have set Quidco payment acc as ISA so I don't even touch the money
* Reread some of the posts on here and am going to save money from vouchers used, cost of anything paid by others e.g. a drink, meal
* Personal spending money is £15 pw - will save anything not spent
* Still doing change jars
* Have an unopenable money tin have been putting in odd £1 and £2 so will keep that going.

Am now going to update sig for second time today with new plans

save-a-lot

Hi

For the last few years I have been paying into a Save As You Earn scheme at work and at the beginning of the term the share price was £17 and that bought me a decent amount of shares within the scheme. Basically, with SAYE I do £75/month for 60 months - this equals a pot of £4500 over the full term, anyway £4500 worth of shares were bought at the start of the term at around £17 giving me something like 260 shares. Last year the share price of my employers shares was hitting £36 and if it had stayed in this ball park my return would have been £9000+. What a difference a year makes, the share price is £23 and still diving and the end of the SAYE is up in December this year. Granted, it is a win win, because if the share price dives you get your investment and cash bonus anyway - if the share price is higher you can sell and take the profits. Also there is the option of just hanging onto the shares. I was hoping on making a killing and getting double back or more, sadly I think I would have to wait a very long time for that to happen.

Was half counting on this one coming good, as the end of this SAYE coincides with a new arrival in our household and a planned extended maternity leave. The overall aim is to avoid hitting our other "pots" and giving those bits of money the opportunity to grow.

5 years ago the intention for this particular SAYE was to buy a Lotus Elise - how things change hey!