Do you think my idea for saving is a good one? :). opinions please.

BrettMorganxD

I am planning to live as if I was on jobseekers allowance (as I have no bills to pay) and just save the rest of my money as I had never seen it (towards my house deposit.)

Jobseekers for me is £50 a week so £200 a month.

So if I earned £1,000 in a month I would withdraw £200 and put the remaining £800 in my savings account.

Do you think this is a good idea?

JonnyBravo

No idea.
How much you hoping to save?
How much do you typically spend?
How long do you think you'll be able to keep on track if it's a "new lifestyle" to get used to?

BrettMorganxD

JonnyBravo wrote: »

No idea.
How much you hoping to save?
How much do you typically spend?
How long do you think you'll be able to keep on track if it's a "new lifestyle" to get used to?

Oh easy to get used to.

Don't spend alot to be honest.

Dunno how much I am hoping to save £20,000 maybe. But prob a bit more. I am not buying my own house til im 25

BrettMorganxD

I am 19 at this moment by the way. Have I posted this on the right board?

creditcard123

Why do you have no bills to pay?
Do you have a mobile phone?
Where do you live?
Do you have a car?

BrettMorganxD

creditcard123 wrote: »

Why do you have no bills to pay?
Do you have a mobile phone?
Where do you live?
Do you have a car?

Because I live with my dad and he doesnt charge me rent
Yes I top up about £15 a month pay as you go
Live in derbyshire
No I do not have a car

StevieJ

BrettMorganxD wrote: »

I am 19 at this moment by the way. Have I posted this on the right board?

As long as you are not scrounging off your mates you know, short arms and deep pockets syndrome, always last to the bar

82much

Good for you!

Its great to save for your future etc BUT you also have a life to live. Don't become a miser or skinflint. Be fair with your Dad. If he doesn't need you to pay your way at least treat him now and again. That way everyone is happy and your savings will have more meaning.

Newly_retired

I presume your dad can afford for you to live not only rent free but also free of bills for gas, electricity, water, TV / broadband etc.

What about food? Do you pay your share of food / toilet roll/ cleaning materials?

What will the £50 pw have to cover?

BrettMorganxD

Newly_retired wrote: »

I presume your dad can afford for you to live not only rent free but also free of bills for gas, electricity, water, TV / broadband etc.

What about food? Do you pay your share of food / toilet roll/ cleaning materials?

What will the £50 pw have to cover?

That is my contribution lol. Which is why £50 a week will be fine. I just buy food. I tried to offer my dad money but he said "Brett kid, if I can live and pay my bills, I want you to keep all your money to yourself. Just help out with food shopping when you can".

I am the main food shopper it is my waying of paying rent and saying thanks dad

darkpool

i'd invest some of that money into a club 18-30 holiday in ibiza.