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Is anyone starting from scratch???

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Is anyone starting from scratch???

edited 21 December 2012 at 3:32PM in How much have you saved?
326 replies 87K views
LaLa_22LaLa_22 Forumite
12 posts
edited 21 December 2012 at 3:32PM in How much have you saved?
Heya,

I've been reading a lot of savings diaries on here over the weekend but it has daunted me a little....as a lot of them already have a large amount of savings to start with!

Is anyone starting saving from scratch, literally £0? Because thats where I am at the moment and I feel a little useless now haha!

Im 23 and rent with my boyfriend so I'm not left with a huge amount after bills etc...

Would love to hear anyone thats in a similar situation

Thanks guys!

xx


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Saving plan #1 : CAR
£300/ £4850
:o
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Replies

  • butterfly2001butterfly2001 Forumite
    3K posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    Hi Lala,

    Save what you can where you can. I'm 25 and rent with my partner,,,,,,, I've saved periodically throughout my life but have only started saving this year with my partner since we put our accounts together. We don't save a set amount each month and our out goings fluctuate but we do our best, don't let the people who save regularly and large amounts put you off :)
    A big thank you to all those who post on the forum and make it a worthwhile place!!!:j

  • I wish I was starting from scratch.

    Currently about -£5k from scratch! :)
    I was a DFW, now I'm a MFW :T
  • LaLa_22LaLa_22 Forumite
    12 posts
    Ah thanks guys its nice to know theres people out there like me lol! Good luck with all your saving! xx
    Saving plan #1 : CAR
    £300/ £4850
    :o
  • butterfly2001butterfly2001 Forumite
    3K posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ✭✭✭✭
    good luck to you too be nice to follow your saving journey :)
    A big thank you to all those who post on the forum and make it a worthwhile place!!!:j

  • davenport151davenport151 Forumite
    647 posts
    Tenth Anniversary 500 Posts Photogenic Combo Breaker
    ✭✭
    Hi Lala 22.
    Lala22 - Yep i'm in a similar boat. As to you Butterfly2001, yes my income and saving amount tend to fluctuate too.
    Mind if I tag along?
    Had no debts previously. This year I decided it was time to buckle up and see what I can save. Putting some by as a buffer as it were. I have a few hundred saved but i can see that getting eaten into with a holiday coming up. Also the school hols and a couple of long distance trips planned, we shall see.
    Lala22 are you doing this on your salary alone? Like you I dont have that much spare each month but I do put a chunk aside into savings (about £150) for car repairs,tax insurance etc. Any extra at the end is swept into my isa (hopefully to remain there).
    Really trying to live on the minimum at present too.
    Good luck!
    Back on the trains again!



  • I started at minus scratch! But paid off my overdraft and now my debts are on 0% interest credit cards, with monthly payments to clear the balance before the 0% period ends. As the debts are 0% I am now saving into an ISA every month.

    The amount I save varies; it is whatever I have left over that month just before payday. I've only been doing it two months so far and have saved a total of £320. Not huge but it's building up slowly :) Once the credit cards are paid I should be able to save about £250 per month more than I do at the moment, but that won't be for another year or so.

    If you save just a little bit every month it soon adds up. Just like the same amount can quickly disappear if you allow it to be frittered away on little bits and bobs :)
  • LaLa_22LaLa_22 Forumite
    12 posts
    Hi davenport! Thanks for your reply :D

    So far I've been saving on my own as my boyfriend has been paying off his overdraft and parents (he was made redundant for most of 2011 :(). But as of next month he should be able to start saving too..fingers crossed!

    I aim to put around 150-200 aside for savings too, some months its more, some months its less! My car has eaten into a lot of my savings at the start of the year too..potholes mainly damaging my tyres (grrrr!)

    I'm getting into the habit of always paying by cash otherwise I just lose track of how much is left in my account!

    Good luck everyone really encouraging to hear from you all

    xx
    Saving plan #1 : CAR
    £300/ £4850
    :o
  • LaLa_22LaLa_22 Forumite
    12 posts
    Hey Polly great to hear from you :)

    Well done on paying off your debts thats great! I'm hoping once I pay off my car it will leave me with more money to save for other things.

    320 for a couple of months - great start, hopefully ill be as good as you and can report back in a while.

    xx
    Saving plan #1 : CAR
    £300/ £4850
    :o
  • Hi i am 28 and not quite saving from scratch.... i have a fair bit to go before i get to scratch.... but crossing my fingers and toes that i can get to the point where i can get to scratch soon....
    1% challenge £2015.50 = £20.16
    Make £2.50 a day £80.82/77.50
    Sealed pot opening Nov 2018: ???
    Going back to being to basics. And penny pinching in 2018 This will be my year 😘
  • davenport151davenport151 Forumite
    647 posts
    Tenth Anniversary 500 Posts Photogenic Combo Breaker
    ✭✭
    How's it going everyone?
    Really trying to save at the moment. We are on hols in a few weeks so want a good chunk of spending money. So literally trying not to spend as much as poss. Got ahead for summer though. My son and I often go for days out by train so have bagged a few advance bargains. Best thing is they are paid for now. Not out of next month's money. We usually take a packed lunch when we go out and avoid the shops! Makes for a cheap day out!
    Back on the trains again!



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