Saving small amounts in 2012 thread.

MarilynMonroe_2

atush wrote: »

No. Go for the 40 inch (or sare I say 37 lol) and save the rest:D

wouldnt be worth changing then!

SpendlessKaren

cleggie wrote: »

Do you have any particular amount you are aiming for Karen?

Not really. Will just save what I can each month rather than waste money on things I don't need

Derivative

SpendlessKaren wrote: »

Not really. Will just save what I can each month rather than waste money on things I don't need

Indeed.

I don't really see the point in 'setting goals' as in, save for a TV or holiday or whatever. That's just spending your money before you have it.

I don't want to see my savings account slowly rise, and then buy something and watch it all disappear. It is nice just to have the money there, not 'pre-spent' on an item.

Ark_Welder

Best wishes to all the savers taking part on this thread. Perhaps a few stragglers will join up in the New Year too.

Remember that it isn't the amount that's important - it's what you're doing to get there.

_party_

markwilkinson

I have a current account with Lloyds and they have something called "Save The Change", which you can opt in and out of. Essentially what this does is to round up to the nearest £1 every transaction you make with your debit card and put the 'change' into a savings account. For example, if you buy something for £4.99 the bank will deduct £5.00 for your account and put 1p into a savings account.

It might be worth finding out if your bank does something similar?

Derivative

markwilkinson wrote: »

I have a current account with Lloyds and they have something called "Save The Change", which you can opt in and out of. Essentially what this does is to round up to the nearest £1 every transaction you make with your debit card and put the 'change' into a savings account. For example, if you buy something for £4.99 the bank will deduct £5.00 for your account and put 1p into a savings account.

It might be worth finding out if your bank does something similar?

The problem with such schemes IMO is that it's far too easy to spend on a debit card as it is.

If you gave two people £120 to last the month, one on a card and one in cash, I would almost guarantee you the one with cash would manage easier and probably have more at the end.

I used to do all of my shopping on a credit card to save the interest, meagre as it was. I came to the conclusion that no matter how hard I tried to budget, seeing £15 in my wallet and knowing that had to last me the week would help me more.

Catslovelycats

Go for it guys and best of luck. I'm in the 12k for 2012 challenge, but my target is £3k (which will be a challenge in itself!)

atush

MarilynMonroe wrote: »

wouldnt be worth changing then!

So dont and save the lot.

Many of you out there are confusing Wants with Needs

atush

My tumble dryer is acing up. but I bought it in Apr 1990 (with a 10% discount for cash). I think I have saved enough toreplace it, but am worried for you lot out there with machines breaking down under 10 years. Bought a WM at the same time as the TD and had to replace it just over a year ago now.

hallmark

cleggie wrote: »

Hi all.
I do not have a big income, but neither do i have any savings- literally £0.
So, this means that if my washing machine/car/TV etc broke down, i would have to go without, because i have no funds to pay for new ones.

I dont like not having any savings. but on my small budget i cant really set aside massive chunks of money.

So my plan is to just set aside small amounts of money every week/month.
Whether its the change from my shopping budget every month, or an odd £10 that i have and dont desperately need (on the VERY rare occasion that hapens!!), or birthday and Christmas gift money.

I know i wont be saving a huge amount a year, but like a very well known advert says 'every little helps'!

Anyone fancy joining me?

GL Cleggie. Separate savings pots (for Savings, for Xmas, for White Goods, for Holidays, etc) are a great idea IMO, trickle in whatever you can & it soon mounts up.

If you are not of a compulsive disposition (& I don't say this lightly) you might want to checkout the GIOL thread on this site. There are ways to make reasonable sums fairly easily especially from places like William Hill. As I say though, these are not for everyone. They are real though and probably the easiest money you can make legally & ethically unless you're lucky or talented enough to have a skill that's in demand.