I can't save :( Any tips to get started?

le_loup

simonp wrote: »

Really don't understand the hostility of this thread!

It's not hostility, it's a pop at your self indulgence.


You earn 2.5 time the average wage and you come here asking, like a schoolboy asks his mum. Knowing full well what the answer is but still seeking the attention!


There, is that hostile enough?



:rotfl:

enjoyyourshoes

As a complete alternative strategy:-


You could be more philanthropic ?

Purplesky_2

Good luck.
50k is an enormous amount of money, and you should be able to make some decent headway.

You may want to do an SOA (and post it possibly under separate thread). It can be somewhat eye-opening - I just did one and it made me re-evaluate some of our spending.

I am a little like you, money can trickle through very easily if it doesn't have a specific purpose. So I throw money out of my account and have a level that I try not to go below in my main account.

Also try to keep a spending diary for just a week. It's not a big commitment, but may demonstrate areas you can cut back on.

And finally, being a bit more MSE doesn't necessarily mean that you have to cut back on your lifestyle. If you are genuinely using all your salary every month, then your bills are too high and you could do with cutting back on them, which should be quite simple to do. Or you are spending too much of your discretionary budget on things or food that you may not need to/could get cheaper.

If you take nothing else from this post, start paying for everything discretionary in cash. It's a huge pain in the !!!! to keep going and getting out money and you feel something akin to actual pain when you hand genuine money over as opposed to a card. You'll possibly cut your expenses by a third, just doing this!

jennyjenssen1990

Hey, If you are really serious for your saving concern, then you must
start investment with professionals because no matter how much we try, we are unaware of the risk in any investment. So to be on safe side start investment with expert guidance. All the best.

bsms1147

jennyjenssen1990 wrote: »

Hey, If you are really serious for your saving concern, then you must
start investment with professionals because no matter how much we try, we are unaware of the risk in any investment. So to be on safe side start investment with expert guidance. All the best.

Thanks for your sage words.

racing_blue

simonp wrote: »

I don't have any real debts (even more mortgage will be paid off next year)

You have property wealth and you have pension wealth. You have few liabilities. You may have some physical wealth parked on your front drive? You are doing OK but the piece of the jigsaw you are missing is financial wealth... like most households in Britain.

Nothing that can't be fixed by the sounds of it - good luck