Future plans for saving money?

Legacy_user

Now my finances are shaping up very nicely, and i am no longer in dire straights at the end of the month I am thinking of plans i want to do to further my savings in the future.

I am planning to:



Stooze and invest



Load all my shopping onto a cashback credit card – therefore saving the months interest in my online saving account AND getting a cashback every 12 months for doing so. (Am in the middle of completing this process)



Use R Points on a more regular basis. I have earned £30 over the last 6 months or so just clicking on the easy points, but I am sporadic and need to do it on a more regular basis to make a regular payout.

Have you any plans for furthering your savings?

crazyhazy

First of all we are saving to pay as much as possible of our wedding in June, we are about 1500 short still, so have paid the honeymoon on credit card and are transferring it to a 6.9% for the life of the balance. However, we have received alot more than we ever expected in money as wedding presents, so in the short term may use some of this. Once all that's paid off we are saving to go to Prague in December and then for a 2nd honeymoon next year cos due to a friends wedding we couldn't do exactly what we want this year. So, we're hoping to be off to Hong Kong, Singapore and Bali sometime next year!

elona

As I have one daughter at university and another two snapping at her heels - I think our savings will be lucky to keep pace so am trying to cut costs like mad.

MATH

Judi wrote:

Now my finances are shaping up very nicely, and i am no longer in dire straights at the end of the month I am thinking of plans i want to do to further my savings in the future.

I am planning to:



Stooze and invest



Load all my shopping onto a cashback credit card – therefore saving the months interest in my online saving account AND getting a cashback every 12 months for doing so. (Am in the middle of completing this process)



Use R Points on a more regular basis. I have earned £30 over the last 6 months or so just clicking on the easy points, but I am sporadic and need to do it on a more regular basis to make a regular payout.

Have you any plans for furthering your savings?

Glad your future is looking so sunny. It's a great feeling when youknow you are finally in control and your money is working for you instead of controlling you.:beer:

I've looked into cash back credit cards but I don't think the rewards are that great, particularly when you consider how regimented you have to be paying the balance off in time. I recently made a £12,000 purchase on a credit card and made a mingy £12 in cash back:rolleyes: The savings from keeping your money in your account for a month will make the whole thing a better proposition tho. Good luck

calleyw

I think any savings we make should go towards paying down the mortgage(we have an offset one) and getting it paid off. And doing the house up. We need to magic up about 4K from somewhere to have a new centreal heating system put in :eek: might have to dip in to our ISA's not happy about that.

The other thing that might help are savings is for me to get off my fat behind and get a job :rolleyes:

I don't think a cash back cc is any good for us. As it would be used for household spending and as we don't spend much more than about 5K a year on household bills including the mortgage. Most of those are on DD we are not going to get much cash back. So does not really seem worth it.

Yours

Calley

Galtizz

calleyw wrote:

I think any savings we make should go towards paying down the mortgage... and getting it paid off. And doing the house up.

Snap! When we re-mortgage later this year I hope to take it out for less and use savings to pay the rest back. Rest (yeh, right) goes on making more room in the garden for planting veggies and somewhere nice to sit and admire them.

Eliza252

Savings are a small speck in the debt-repayment distance at the moment. But when I get there am going to start filling up a cushy tax free ISA with savings so that next time I get kicked in the financial B Hind I dont fall on my face! . Also am going to be able to start saving for post-grad education, need at least three thousand for fees alone - yowch! ah well, one step at a time in my grand plan to take over the world!! :cool:

ashmit

I've looked into cash back credit cards but I don't think the rewards are that great, particularly when you consider how regimented you have to be paying the balance off in time. I recently made a £12,000 purchase on a credit card and made a mingy £12 in cash back The savings from keeping your money in your account for a month will make the whole thing a better proposition tho.

£12,000 would make me £60 - you must only have a card with 0.1% cashback - why not get another one? Mine gives me 0.5% (and I think you can get better, but I'm with smile for their ethical stance) - it's not like winning the lottery(!), but it's a lot better than a kick in the teeth. And as you say, it means I get to keep approx £500 more in my current account every month, giving me 3.4% interest. AND I have my current account and credit card with the same bank so I don't look at my current account to see how much I have - I look at the net total ;D And just set up a DD to pay off the entire balance every month and you'll never miss the payment.

£17 a year in extra curr acc interest and £30 cashback isn't going to wipe all my debts, but I'd rather it was in my pocket than the banks!

Curry_Queen

Well, I only have just over £1K in savings at the moment but I'm shoving every spare penny I can into it in preparation for moving as I've recently learned how extortionate agents fees and deposits etc are these days :eek: in case my only option is to rent private again. I guess I hit lucky with my current place in that I only had to pay a month's rent and deposit up front, but a couple of places I've recently enquired about are wanting in the region of £1-2K before you even move in!!!! :eek:

Once all that's out the way I hope to concentrate on getting myself out and about again and maybe save up to buy a little car so I can get to some of these farmer's markets and cheaper supermarkets again

crana999

All mine are going towards the cost of uni..

Ticklemouse

We want to go to Florida and have a fabbo 3 week holiday (DS1 wants to go into space on the shuttle whilst we're there) Estimated timescale - another 3 years (at least)

Oh, and pay off CC - still interest free but will have to get another one soon as money for that went on paying off Mr TM's 4 figure overdraft he 'omitted' to tell me about and that I accidentally found.