Savings per month?

Coolmum66

Hi - this helps me, but may not suit everyone

I put 20p's and under into a jar, count it when it's full and bung it in the bank
I buy 1 (£5) savings stamp from the post office every fortnight for my car tax.
I pay as many bills as possible on direct debit.
I keep 2 x 30p (car parking money!) and £5 in change in my purse - any thing else goes into my "emergency account" hopefully each week - or each fortnight!

Not yet debt free - but getting there!!

beemuzed

Although still have cc to pay off am paying extra on them to pay off sooner, but also putting money acros into e-savings as holiday fund - if I used ccs for this I'd end up spending more - this way can only use what's in the fund already. Probably not sound financial sense, but works for me! £2 coins and 20p coins put against cc debts as soon as reasonable total amassed.

prophecy_grrl

Hi

I save £20 a month for Christmas with the savings club in work, been doing this since Jan.

I also save £2 coins and have a spare change jar, but bank these every few months into our debt account to go towards paying that off.

I'd like to think that once debts are cleared I'll save for holidays, car insurance, etc but at the moment I use things like Ebay sales and work expenses for that at the mo, and tighten the purse strings on everything else when these spends arise. At least I'm not getting into more debt for them I suppose

Lydia.42

We only started saving about 3 months ago.
We have finally managed to get all our remaining debt onto 0% cards, which end Nov 07 and Apr 08. So it was pointless to pay anything more than the monthly minimum to each card. So we save as much as we can instead.

We have a savings account linked to our joint account, and we use this to float money back and forth when needed, and when we have built up a bit, we move money to an ISA each month too.
This means we save as much tax free as we can, but also have a bit spare for car tax, etc, as and when it arrives.

I am due to start maternity leave in a few weeks and we are currently trying to work out a new budget, when we will only be able to meet the minimum cc payments. We will still be slowly clearing the debts, with the ISA money as a safety net to fall back on if maternity pay leaves us short, and any spare being saved too. Although until i know for sure what i will be taking home with car allowance, etc, it's a bit tough to know how we will fare.

We then plan to keep saving and tarting to 0% for as long as possible, until we finally become debt free. Although obvisously it may take a bit longer with bump on the way now. :rotfl:

poodlehorse

once I paid off my loan I put the money I used to put towards that into a savings account by direct debit every month, It comes off the day after DH gets paid and I really should have upped the amount when we paid off our mortgage but I haven't. Good reminder to do that now. I put £300 a month away that way and any extra that is left at the end of the month I shove in manually so I always start each month with only that month's salary in it. I used to do the same with debt ie if anything left over that went against debt. Good practice I got into and just stuck with it.

Chicken_Samosa

me and the mrs are loking to save £6k each by next april which will quite a stretch, the money will be used for home improvements.

Also saving £2 in a big piggybank to go towards a puppy, currently have about £200 in it will space for another £150-£200 more.

mintymoneysaver

Now that our debts are paid off I do intend to save, but so far there's been nothing left each month. However this month is the last one for a while that we will have big expenses so I aim to save about £200 a month from now on. However we do have £125 coming out of DH's wages before he gets it which goes into a share save scheme, so we could get at that if absolutely neccessary. We also save £25 a month for the children in a friendly society.

babes21

Thanks for the replies everyone, keep them coming :T

TAG

I save £1.50 a day and at the end of each month pop it into my B/S account.
Then from Sept onwards I'll save an additional £150 a month. This is all to pay for Xmas and/or see me through January if needed, as work is slack then.

If I don't need it at all then I'll look to put it in a Mini Isa. Doubt that'll happen though.

It's my first year of really budgeting, planning and saving properly. Have fallen off the wagon a bit but nothing that can't be recouped.

Feel quite chuffed that it's all panning out more or less as I had expected.

i also save odd change which mounts up quickly. I just bag that and stick it in my current account to use as a bit of extra spending now and again.

debbycatz

This is an interesting thread OP. I've picked up a few ideas whilst reading it.

I've only been doing a budget since August 06 and it's been a bit hit and miss. I'm really bad with figures and sometimes I can't work out why I haven't got what should be left in the bank. I do spreadsheets etc, but whenever I tally up and the end of the month, my spreadsheet never reflects my bank statement
So, this month I have changed the way I've been doing things. I've opened up an Instant Access account and I've decided that each month I will check what I have left after all my bills and direct debits have been paid and then move the remainder into my Instant Access account. From that I plan to save £20 a month towards Christmas and £30 a month general savings (not sure what for yet 'cos there are soooooo many things I want ). I will put this amount into my mini ISA each month.
I'm hoping that this will enable me to simply not touch my current account where all the bills go out of, but use the instant access account. This way, if it isn't in there then I can't spend it !!!
I'm hoping this will work and avoid me getting in such a muddle :undecided