How to fall in love with saving money

cathybird

YoungBusinessman wrote: »

Well iv fallen right off the wagon, spending money like iv got weeks left to live/as if money is going out of fashion. Back on it, not going to dwell on this past 4 months of slow saving at the start of the year. Things will pick up. Having a no spend day today to start me back off on savings bus. Got the motors cleaned this morning, a heap of washing, windows washed and grass cut. Just taking a 10 minute break before I go back out to strim the grass edges around the house. Don't like how the grass is right against property but minor issue. Would rather there was a little bit of chuckles or something separating.

Good news though, we bought place for £112k December 12, same property just down road was going at 115 late last year but 2 months ago one sold at £120k. Only difference being we have asbestos garage roof. Away to get it replaced though when I'm off in the summer. New bathroom and kitchen(cheap kitchen to be honest) getting put in over summer aswel and that will be the last of the woodchip off(hallelujah!!!) making progress on the house front.


Savings wise will be at £2k+ for the year at end April. Not doing well but had a few one off expenses and got a holiday booked and paid for. May, June July and August are my main months to save as on weather depending price work job so income can ride as much as £1,000 PCM. In July I get 3 weeks paid holiday for "trades", going to try and get a few of my own freelance jobs lined up and work most of it, hopefully bring in an extra 4 figure that can go straight to the savings!!

Going to stop rambling now, got a new budget to make up in my head as I strim the grass!!

YoungBusinessman! So nice to hear from you It's very easy to fall off the savings wagon, I think, but the only thing to do is get back on. Between buying a place, working and booking holidays etc you sound like you've had a lot to organise. Weirdly enough I got out the charger to charge up my electric strimmer this morning - if this wet weather keeps up the actual strimming will have to wait till later in the week though.

I had been wondering what was going on with you Always nice to hear from everyone.

I am quite sure you can still beat me on the savings front for this year so don't lose heart

cathybird

WantToBeSE wrote: »

Morning Cathy Have a lovely day at work. I am back at work tomorrow, so am enjoying my last day of freedom. That said, I also have Tuesday off because my son has a dental appointment, so an easy week for me this week.
I'll be glad to get back to a normal week though, as the less hours I work, the less money I get at the end of the week. I am looking forward to getting a proper weekly amount again!

Well weather-wise it's certainly a good day to be at work, WantToBeSE, but can't say it's filling me with great joy otherwise Hopefully we can finish a bit early, it being Easter Sunday and all. I have quite enjoyed working a short week but would not have thought that way when I was freelancing so can appreciate it means a hit in income for you. But do enjoy your day of freedom

WantToBeSE

Hi Cathy It's quiet around here over Easter isn't it! I thought everyone had abandoned me over on my Diary, but it seems that everyone is just busy

It was back to work for me today, but I was so busy that the time flew. I always prefer it that way.

My mini goal deadline is approaching and I have still got to save £1000. It's going to be a tight month but I am determined to hit that £2K target!

*whispers* I also want to book a holiday to somewhere hot, like Spain. I have been to Lanzarote before, many years ago, and would love to take the kids there...any recommendations?

cathybird

hi WantToBeSE! It has been quiet here round Easter - a few people are away, I think. I much prefer work to be busy - it really dragged yesterday and when it drags I just want to go home, basically. I bet you you can make that £1,000 target by the end of May - can you work any extra shifts? ... I have my car insurance coming up shortly, and my car tax, so this could end up being a slightly tricky month for me just like last month. But I will make up for it!! It's good to have friends round to motivate you, you know? Now that I've seen your post I'm back thinking about savings again.

I love Spain, but have mostly spent time round northern Spain, and not for about five years. It was lovely though and the food was fantastic. I'll look it up to find out where we went. *whispers* you deserve a holiday after all your hard work!

WantToBeSE

No extra work available at the moment, so that's not possible.
I have a plan for savings and holiday money etc, i'll write about it over on my diary so as to not clog up yours with my incessant rambling

Just back from my sons hospital appointment, the parking prices are STUPID money! £2.40 for just over and hour! Good God, I cant see how they can charge so much. I suppose if people have to pay, they can get away with it.

atush

I think it is shameful. Our hospital car park was free when I was last there thank goodness.

Visitors can be charged, fine. Those who have to attend? Not fair.

jaydenhargreaves25

When are you saving for

Once you have worked out what you are saving for you will be able to work out whether you will need the money in the short- term, or in the long-term.

Saving for the short-term usually means that you will need the money within the next five years. Saving for the long-term usually means that you will need it in five years time or more.

You should also think about whether you want a saving or investment that pays you an income now, or whether you want your money to grow over a long period of time to provide you with a lump sum in the future.

Short-term savings

You might want to save in the short-term for things like, holidays, Christmas, a new car or the deposit on a new home.

If you're saving for the short-term, you will to want put your money somewhere where you can get hold of it easily and also be sure that it's there when you need it.

The types of account that you can look at if you are saving for something you need soon are usually bank and building society savings accounts. These are also called deposit accounts. You can also look at National Savings and Investment (NS&I)accounts, which are available through the Post Office, online and by phone. These are government owned and completely safe.

Another way to save for the short-term is through a cash Individual Savings Account or ISA.

Long-term savings

Long-term savings are for things like your children's college fees or your retirement. These are things that are not likely to happen for at least five years or more.

The way you choose to save for things like these will depend on how safe you want your money to be and how much risk you are willing to take with your money.

You can choose either to put your money into a bank and building society account,or to invest it in the stockmarket. A bank or building society account is a safer way to save because you are guaranteed to be able to get back at least the money you put in. However, you may earn less interest.

Investing in the stockmarket is a riskier way to save because it's possible to lose money rather than make it. However, the longer you invest for, the more likely you are to make more money than if you had saved with a bank or building society. This is called giving you a higher return.

If you have money to invest for the long-term, you can also use your stocks and shares ISA allowance.

cathybird

WantToBeSE wrote: »

No extra work available at the moment, so that's not possible.
I have a plan for savings and holiday money etc, i'll write about it over on my diary so as to not clog up yours with my incessant rambling

Just back from my sons hospital appointment, the parking prices are STUPID money! £2.40 for just over and hour! Good God, I cant see how they can charge so much. I suppose if people have to pay, they can get away with it.

No, fair enough about the extra work. Shame though. Please feel free to post on my diary too - I love it when loads of people contribute because you can start real conversations that way, as opposed to me talking all the time

Agreed with you and atush about hospital parking - if you're ill, and particularly if you need a longish appointment, which many do, you really should not have to pay.

pat_cashmoney

Blame the government for not giving the NHS enough money. If they did, there'd be no need for parking charges.

hex2

Hi cathybird, I found your diary yesterday when I was looking for some inspiration. Just wanted to say thank you for sharing. Positive and inspiring reading - same for you WantToBeSE, although I used to read your posts on the Grocery Challenge so I knew you would be a good one to read!

In a nutshell we had good savings, income changed dramatically overnight, used savings, ran out of savings and slid into debt (topping up the shortfall between my wages and the mortgage!), things changed again and we have been able to chip away at the debt till we are (just about) straight again this month. I need now to start building up savings again ready for the next dry period as OH is self employed. Emergency fund currently stands at £59.01. At least I have an emergency fund, right?

I am also a book addict. The last two years of not being able to buy books have been a killer for me - books have always counted as essentials.