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Don't know where to start


This year I am desperate to save as much money as I can. I hate constantly being worried about money and I feel like I will never be in a better position if I don't do something. The problem is I don't earn a great wage (and I don't think I can get a job with a much bigger wage as I don't have the qualifications) and I am single so only one income coming in. I rent a flat but would love to buy eventually but just can't see that I will ever be able to afford to. I don't have lots of luxuries, I don't go on holiday or go out very often but it just seems that buy the time I have paid my basic bills I don't have much left to save. I can't think of any ways I can make more money and so I just don't know how I can save as much as possible. I would be really grateful for any savings tips, things other people have done or even to hear from anyone who has been in a similar position and what they did.

Thanks in advance



  • davenport151
    Hi Karriegem -posting on here is a good start. Visit the various boards for inspiration.
    My income is not that great. But I used to think to myself ' I will start saving when...' Then I would realised what I could have saved in a certain timeframe then get disheartened that i hadn't put any thing aside.
    A spending diary is a great idea. First of all work out what your 'essential' spend amount is. This is rent, bills, car expenses (if you have one) - don't forget those yearly expenses! Then work out what is left each month. This is your 'spend ' amount. If you fill in a spend diary you should be able to see where your cash goes and more importantly where cuts can be made.
    Have a go on the budget planner - Its in the income/family tab above then under household savings.
    Good luck!
    Back on the trains again!

  • Karriegem
    Thanks, I think that's how I feel - there's always been something else going on so every time I've made a concerted effort to save it hasn't worked out and then I've thought I'll try when.... but it's just not happening. Wish I could think of a way to save more though!
  • davenport151
    Do also have a look on the 'Is anyone starting from scratch' thread (just below this one). I'm assuming you have no debts?

    Re-reading your first post sounds like me a year or so ago. There was never enough money in the month! The attitude to get to is 'What do I have free to spend this month? Then perhaps start by saving a small amount. Do this as soon as you are paid. Internet banking is great for this1
    Back on the trains again!

  • fannyadams
    fannyadams Posts: 1,741 Forumite
    Photogenic Name Dropper First Anniversary First Post
    I found it helpful to do an SOA anyway -
    it helped me concentrate my mind on what was going out of my account
    as others have said a spending diary also works
    I also read A Girl Called Jack and Frugal Queen's blogs for inspiration.
    just in case you need to know:
    HWTHMBO - He Who Thinks He Must Be Obeyed
    DS#1 - my twenty-year-old son
    DS#2 - my teenaged son
    Barkin Things - my two rescued/retired greyhounds
  • Karriegem
    Thank you everyone. The only debt I have is student debt which comes out of my pay automatically each month. I have no other debts and don't have credit cards. I was thinking about dog walking to earn a little bit of extra money - I love dogs but I'm not allowed to have pets at my flat so I thought it would be fun and way to earn just a little extra money. I'm not sure how to go about it though or how easy it is to get into.
  • MotiMoo
    MotiMoo Posts: 42 Forumite
    Hi Karrigem,

    When I was saving for my flat I was doing so on a pretty small wage, so I took a second job. After paying all bills, the remainder of my primary wage went into an ISA and I made myself live off my wage from the part time evening job.

    My primary job was an office assistant and my secondary job was as a cleaner at an office right next door to my primary job. The cleaning was only 3 nights a week so I would take dinner with me on those days and eat it before going in to do the cleaning. It did kind of suck in the beginning because three nights a week I was basically tied doing more work, but after a year I had saved a couple of thousand.

    That may sound bad enough but I then took a third job, where I worked as a waitress on a Friday and Saturday night. I didn't mind this job as much because it was very social and we used to all go out afterwards (my friend and I didn't drink as we were both broke but we used to have great fun anyway). I then swapped to only living off of this wage and my two other wages went into the ISA. I managed to save £7000 this way.

    It may sound like a lot of work but a lot of part time jobs such as bar work, waitressing or cleaning are actually quite social jobs and it can almost not feel like work. Some of my work colleagues at my primary job thought I was a bit nuts, especially for the cleaning job, but my mum taught me that work is work and I shouldn't turn my nose up at it :D

    Good luck in your saving!
    Saving for new hallway £261.46/£2000
  • davenport151
    Karriegem - hope things are going ok for you. The dog walking is a good idea. Try ads in the newsagent window. Put an ad in yourself.
    Back on the trains again!

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