What are you saving for?

RoxRoxBling

I've been saving since I've started working, and now have a nice pot of savings. However, now I'm not actually sure what I want to spend my savings on. Here's what I would allocate the money between... Firstly and most important spending it on my part-time degree, and then I'd like the rest to go between buying a used car and renting my own place for the first time.

Before I do make a big purchase and money commitment, I really want to think about it long-term wise (I'm still in my 20's, so don't want to waste the money now, when later I'd need it more)

So my question is, What are you saving/spending your savings on?
:beer:

floopnoodle

A house deposit.

Shoot me now.

talexuser

Congratulations, getting qualifications towards a job you can enjoy and pays well is a great effort at your time of life.

Savings are there for the unfortunate things that happen in life so you don't have to worry that much eg car engine blows up, house flooded through leak, losing your job and having to find another etc. Later on they are there for when you stop working.


You are starting out on your journey so a car or flat seems a worthwhile enough goal. First step use a cash ISA for best interest rates on your money.

jenniemiller177

A holiday with my family. All of our money has gone on house repairs over the last few years, just a weeks break is what we are saving for!

srcandas

At 60 in a few weeks I can survive comfortably till the end and am still working but:

I'd like a few more big world trips. Loved NZ and would like to get there and back via a few South American locations. Also diving in the Maldives and NE South America.

And I invest for the enjoyment investing gives me. Being an owner, even a very small owner;), of an African mine gives me a buzz - especially when I call it right

Cyrus

Saving for a Holiday in America at the mo. Once we've done that I guess it'll be on to a deposit for a house.

JoeCrystal

srcandas wrote: »

And I invest for the enjoyment investing gives me. Being an owner, even a very small owner;), of an African mine gives me a buzz - especially when I call it right

That I can understand fully. Investing is really my hobby. Still need to be really careful about putting too much money into it. I like checking the news of the companies I invested in and make a hopeful wish that they will go well... I get a thill when I get an email of RNS they issued and hope it is not bad news...

As for savings, well, at the moment, it is really partly for house deposit. So long way to go. And partly for early retirement, even longer way to got.

Cheers

Joe

catrobs34672

I saved a lot from my job also so I was able to buy my own house. Now I'm saving again for to invest in a farm.

savingmummy

I wish i was 20 and saving i`d love to have turned back the clock!

I`m 30 and only just realised i need to save for a deposit on my 1st house - will it happen? no idea!! BUT i`m giving it a good go

markwilkinson

Lots of things! Lots of different pots too. For example my wife has a savings account that is designed for home improvements etc, which we both pay into. I use my employers share save schemes with the aim of buying some woodland at some point in the future. I use a separate share buying scheme, hoping that the dividends received will boost retirement income. We have a joint savings account which is there purely to save so we have 'more' to pass on to our beneficiaries - how depressing is that lol. Isa's, again, just increase our overall wealth. Lots more beside that too.

RoxRoxBling

For me, it's hard knowing where to spend the savings.. Really, knowing what my priorities are.