Tips for saving up for multiple big financial goals?

positivelypunked

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Current goals
1. £2,700 emergency Fund
2. Saving for a car and driving lessons
3. A house or flat (rented or buying) in the next 10 years ... I'd like to say 2/3 years but not possible

And on top of that I'd like to save money for
Travelling up to see my boyfriend (£9.00 per ticket)
And to get nice things like proper shoes or a holiday or something...

I earn roughly £900 a month.
£400 goes on bills
But then I have to keep money for birthday gifts and well furnished I guess...

atush

Go to the debt free board and post and SOA.

Go thru all your bills and see if you can save money.

Do a spending diary and see where your waste is and stop it.

positivelypunked

Sorry what's SOA, I've never heard of that abbreviation before?

Those are helpful tips,thanks

gingerscot

It's a Statement of Affairs. You can find the links to the form on the debt free boards but essentially it's a full breakdown on all your monthly income, spending, bills etc and all debts (loans, credit cards etc) to help you see areas you can save money on and for other clever moneysaving folks to give advice.

It's a bit of a pain to fill it but I would definitely recommend it...often is a bit of an eye opener!

From a savings perspective and considering you goals, investing is not a sensible option at the moment (emergency fund should always exist first). Best way will to be maximise the interest you get on your savings through current accounts (loads of pages on this site to help) and get all the switching bonus's/cashback you can.

enthusiasticsaver

Try and get your outgoings as low as possible and then divide your disposable income into 4 "virtual" pots for each of your separate categories - Emergency fund, travel, fun money and medium term savings for car, driving lessons and flat. Stick a regular amount into a high interest current account every month and budget for all your spends.

racing_blue

Over time, earn more. This is the attack ... controlling spending is the defense. It takes both to win the game!

Flobberchops

Put aside £100 a month or whatever you can afford (up to £200) in a Help to Buy ISA. It'll really help you get that mortgage when you're ready. Up to 10 years is a nice amount of time for the interest to compound

richy999

I would recommend focusing on your emergency fund 1st.
While you are doing that, track your spending so that you can identify any areas of spend that you can trim down and develop a realistic budget.

With the budget in place, you'll be able to prioritize your disposable income according to your goals.

You will get some great ideas on how to budget on the debt free board.