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Starting saving...
misskl
Posts: 37 Forumite
Ok, so I have decided to lurk here rather than the debt board, because I am fairly close to wiping all my debts now and my future is going to be all about saving! I never want to be in debt again! (no, not even a mortgage...)
I've recently turned 30, and have about £1.5k in an ISA which I am starting as my emergency fund.
Once my debts are paid off, I hope to save
10% emergency (until its built up to 10k)- currently in an ISA
20% house savings
10% fun money (clothes, holidays, gadgets etc)- at the moment I keep this in a separate current account
I wondered if anyone has any advice in terms of where you should keep these different types of savings?
Also, I don't have a pension. I'm still not sure yet what my stance is on them. My dad is working himself into a grave in order to build up his pension, his retirement gets ever farther away and he restricts himself in order to wait for the 'golden days' of freedom- this really doesn't make sense nor appeal to me.
Any thoughts on alternatives to pensions too?
Thank you all for your help
I've recently turned 30, and have about £1.5k in an ISA which I am starting as my emergency fund.
Once my debts are paid off, I hope to save
10% emergency (until its built up to 10k)- currently in an ISA
20% house savings
10% fun money (clothes, holidays, gadgets etc)- at the moment I keep this in a separate current account
I wondered if anyone has any advice in terms of where you should keep these different types of savings?
Also, I don't have a pension. I'm still not sure yet what my stance is on them. My dad is working himself into a grave in order to build up his pension, his retirement gets ever farther away and he restricts himself in order to wait for the 'golden days' of freedom- this really doesn't make sense nor appeal to me.
Any thoughts on alternatives to pensions too?
Thank you all for your help
finally debt free,becoming wealth conscious!
*LBM- October 2013* *Debt free November 2014*
[STRIKE]~ Debt (Loan): £8500[/STRIKE]
[STRIKE]~ Debt (Card) £2700[/STRIKE]
~ISA(Emergency) savings:~ ~ House Savings- £1700 ~ LT savings ~ Pension Pot £600
*LBM- October 2013* *Debt free November 2014*
[STRIKE]~ Debt (Loan): £8500[/STRIKE]
[STRIKE]~ Debt (Card) £2700[/STRIKE]
~ISA(Emergency) savings:~ ~ House Savings- £1700 ~ LT savings ~ Pension Pot £600
0
Comments
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No alternative to pensions, best route to free money from your employer.
ISA is pointless for the amount you have, you'll get 5x the rate using current accounts.Remember the saying: if it looks too good to be true it almost certainly is.0
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