My Saving log

Svenena

Thanks for the birthday wishes

I'm aiming for 2014. My target figure is similar to your's (£40k), although I've just decided £100pm is going to go into long-term investments rather than the deposit savings, so that will reduce the amount I can save, but I do have some inheritance money to be added to my own savings (which I'm not including in my target), so will still have enough.

Seems like we are on a similar income too, but as I am in rented accommodation I can't afford to save as much as you. Your savings must be flying up every month - very satisfying to watch, I'm sure! I only started a few months ago, so have a way to go yet, but I love seeing the interest I get every month. Makes a nice change from a few years ago when I was paying the bank fees and charges all the time. How long have you been saving?

I started my own savings log on here, and so far the general response has been that I am being unrealistic! But I know exactly where all my money goes, so I'm confident I can do it. I think keeping a diary is very motivational, and it'll also be nice to have a record of the journey.

If you can stick to your goals, it looks like you will reach your target well before spring 2013. Will you buy as soon as you have the money, or keep saving until then in order to have a bigger deposit?

Sylvia1982

Hello everyone!

I am having a great day so far as i have just had my car windscreen fixed with no trouble. WOO HOO, no London Transport for me today:j

Thanks Svenana, you have brought up a few good points that have got me thinking, hmmm.

Your savings must be flying up every month - very satisfying to watch, I'm sure!

It really is nice when you hit targets, can not wait to hit the £30k. It still feels like when i was a kid, i still get excited. I started saving when i went to secondary school. My parents drummed it into my head from a young age, You must save for anything you want. I then went to university and paid off my fees out right. Unfortunately once i left, i spent about £8k on going out within several months, very easily done in London. I am definitely not proud of myself, but i can not change my past. I have since been on expensive holidays (£1.5k-£3k per holiday) that i would not change nor do i have any regrets. Hence why my mates can not understand why i haven't got my own place yet.

I started my own savings log on here, and so far the general response has been that I am being unrealistic! But I know exactly where all my money goes, so I'm confident I can do it. I think keeping a diary is very motivational, and it'll also be nice to have a record of the journey.

I believe if the maths adds up and you feel your target is realistic then go for it. Everyones situation is different. Even when I was renting, i was still saving between £400 -£500 pm as i had no travel cost/car at the time.

If you can stick to your goals, it looks like you will reach your target well before spring 2013. Will you buy as soon as you have the money, or keep saving until then in order to have a bigger deposit?

Hmmm, i really don not know the answer. At the moment due to my job, i would have to keep saving


I will have a look at your thread and good luck on your saving journey


bye for now...

Sylvia

Sylvia1982

Hi everyone, i hope you all are okay

Svenana i have read your diary and apologies for not posting. I was too scared to post, just incase i attracted the negative post on mine:eek:. I could not believe what i was reading. Its a shame that your car is going to cost that much to get it repaired . From the info you have provided regarding your saving strategy, it appears do able. I too have friends that are getting sick of hearing me talking about saving for a deposit.

Now heres to bad news!

My mother has informed me yesterday that she wants the bathroom refurbished and the external walls of the house to be painted this summer. I hate this time of year :mad:. I need to speak with my younger sister, for splitting the bill with her as this is going to cost(£5k-£6k). I should of budgetted more than £1.5k for this year. Oh well, never mind, i will have to just dip into my emergency fund again .

I cannot wait for pay day next week:j

Bye for now...

Sylvia

Svenena

Thanks, and don't worry about not posting - some of the posters on there are pretty intimidating, lol. But there have been a few nice ones Fortunately I've been on this forum long enough to not take things personally - you get a real mix of posters. I do think it's harsh when sometimes regulars are really rude to newbies though.

I'm still waiting to find out what the final car bill is going to be, but my mum and step-dad found someone that can do it cheaper than the garage, which is good.

I'm going to be spending a bit more than usual on entertainment this week, what with my birthday and all, but I've got a bit of back up money from weeks where I've underspent, so won't need to dip into savings for that. I don't want to live like a complete pauper while I'm saving - I think you have to have a balance for it to be sustainable for the few years it takes.

Yikes, those house bills sound pretty large. Is the £5 - 6k the total, which will be split between 3 of you? Does your sister live with you and your mum? At least you have an emergency fund - I guess that is what they are for.

I'd forgotten it was pay day next week, until I got given my pay slip this morning I recently had a small pay-rise, and am also benefiting from the change in the personal tax allowance, so that's a bonus. I love topping up the savings just after pay day! :T

poorgirl-54

how did you get £7.5 per month contract? what minutes do you have and what phone?

Sylvia1982

Hello everyone!
I hope everyone had a lovely Easter weekend

Hi Svenana, i hope you had a lovely birthday!!!

Yikes, those house bills sound pretty large. Is the £5 - 6k the total, which will be split between 3 of you? Does your sister live with you and your mum? At least you have an emergency fund - I guess that is what they are for.

I am currently living at my mums house with younger sister(who is saving for a deposit aswell) The bill will be split between my sister and I. My sister is currently trying to change my mums mind about refurbishing the bathroom( due to no friends or family living near by). I'm lucky, as i could use the shower at work:rotfl:

Hello Poorgirl-54,

how did you get £7.5 per month contract? what minutes do you have and what phone?

I managed to get this lovely deal due to my issue with having no signal at work and trying to terminate my contract as O2 has better coverage. So T-mobile are going to give me a Samsung Galaxy ACE(i will be hopefully be getting it on Thursday, yay!) for free with my minutes reduced to 300(instead of flex 180), free landline calls and unlimited internet and 500MB download(which works out better for me). I hope this helps

I have updated up sig with my ISA interest £291.33. That means i may be able to reach my next target of £30k on Thursday, can't wait for pay day:j

Bye for now...

Sylvia

Sylvia1982

Hello eveyone!

I can not believe how busy i have been in the last two days.With me working on the garden and its still not finish(completely gutting it out). With the weather forecast for this weekend looking bad, i can not see my self finishing it this week . Back to work tomorrow for 2 days .

I have been looking at my to do list for April and thought i should note them here

• [STRIKE]Open a new ISA[/STRIKE]
• [STRIKE]Look at interest rates on other accounts[/STRIKE]
• Sell old/broken gold jewellery
• Look at SKY package, to make it cheaper
• [STRIKE]Cancel mobile contract and get a cheaper contract[/STRIKE]

Clearly i have not done it all yet, but at least the important task are completed . I will try my best to sell the gold by this weekend, fingers cross. I will have to look at my diary to see what needs to be done in May, I will post it accordingly...

bye for now...

Sylvia

Sylvia1982

Oh lovely pay day is here...:D
Here goes with my savings transfers

Deposit = £1,100
Grand Total = £30,023:j

Emergency Fund = £100
Grand Total = £2,520

Car Fund = £250

Holiday Fund = £20

Presents Fund = £10

So happy that I have actually made this total towards the deposit this month, as i have now hit my £30k target :T:T:T
How should i celebrate reaching this target goal :question: hmm
I have also managed to get another 2x £2 coins yesterday:rotfl:
I will update my signiture accordingly.

I shall update later with my May to do list

Bye for now...

Sylvia

Sylvia1982

As promised,


To Do List for May

• Car insurance for June (please don't be more than £1k again)
• Car break down cover
• Buy new work boots( a must)
• Sell BB mobile phone(currently have 2 persons interested)
• Sell old/ broken jewellery
• Review Sky package
• Buy new trainers for Race For Life

Personal

• Go gym at least 3 days a week(haven't been in a month:eek:)
• Sort out the garden with minimum cost(yeah right:rotfl:)

Hopefully as my list is now on here for everyone to see, i may actually complete it all( that would be a first :eek:)


Off i go to get bits and bobs from B&Q for my mission for this weekend.


Have a nice Bank Holiday weekend,

Bye for now...

Sylvia

Lokolo_2

Hi Sylvia! Glad everything is going so well for you at the moment, I love reading your posts, such an inspiration! :j
I'm only 21 but I am also saving for the future, mainly for a house deposit and emergency fund. Luckily I still live with my parents yet I still go to Uni and work nearly full-time around it, so I have managed to build up nearly £40k in Savings (plus my parents pay tuition fees for me so I've no debt)

I like what you say in your sig about saving to live or living to save, sometimes I feel I am living to save Being an avid saver has made me very stingey when it comes to spending so I don't enjoy myself as much as I should!

At the moment I work in retail but I'm about to change and work on the Railways, something I've always wanted to do, my start date for this is in just over 3 weeks time so I can't wait :jPay isnt amazing but it's shift work so I'm hoping I can fit it around Uni :rotfl:

All the best to you Sylvia, and don't get your hands too dirty in the garden