26, no savings feel stuck

Flowers123

Hi Houseplant. How are you? x

aj23_2

I'd look into Regular Savers where you could save £200 a month or so, you'd have £2,400 plus interest within 12 months. Also look at what you can cut out. You're spending £180 a year on donations. It is, well, charitable of you, but if you have no savings can you afford to pay this out each month in reality? Charity has to start at home. Around £10 a month in tips (restaurant, hairdressers etc) is £120 a year. You're already paying for the food, and staff earn well due to living wage plus tips from others. It's fine not to leave a tip.

I equate things to petrol. £180 would fill up my car three times. Doesn't sound a lot, but if I got a bill for £180 for petrol in one go, I'd have no money left over for other things that month.

Add up what something costs for a year, and if you couldn't afford that as a one off payment at the end of the year, then look at cutting it out. You could save about £300 a year from those two I said above alone.

You're the same age as me. I looked into how to start saving at 24. Best thing I did. I went from having £3,000 to £25,000 in just under two years by making lifestyle choices and not paying for things that weren't essential. But I do live at home so I don't have bills or utilities. I can afford to save hard, for a deposit. 66% a month.

It's all about choices. I wear glasses too, I go for an eye test year two years, maybe get new ones every other time. I go to the dentist every other year. You don't need to go every 3-6 months in reality. They only say that because it makes them money, as with anything. Like Gilette suggesting you change your blade every time you shave!

System

aj23 wrote: »

I'd look into Regular Savers where you could save £200 a month or so, you'd have £2,400 plus interest within 12 months. Also look at what you can cut out. You're spending £180 a year on donations. It is, well, charitable of you, but if you have no savings can you afford to pay this out each month in reality? Charity has to start at home. Around £10 a month in tips (restaurant, hairdressers etc) is £120 a year. You're already paying for the food, and staff earn well due to living wage plus tips from others. It's fine not to leave a tip.

I equate things to petrol. £180 would fill up my car three times. Doesn't sound a lot, but if I got a bill for £180 for petrol in one go, I'd have no money left over for other things that month.

Add up what something costs for a year, and if you couldn't afford that as a one off payment at the end of the year, then look at cutting it out. You could save about £300 a year from those two I said above alone.

You're the same age as me. I looked into how to start saving at 24. Best thing I did. I went from having £3,000 to £25,000 in just under two years by making lifestyle choices and not paying for things that weren't essential. But I do live at home so I don't have bills or utilities. I can afford to save hard, for a deposit. 66% a month.

It's all about choices. I wear glasses too, I go for an eye test year two years, maybe get new ones every other time. I go to the dentist every other year. You don't need to go every 3-6 months in reality. They only say that because it makes them money, as with anything. Like Gilette suggesting you change your blade every time you shave!

Hey, your post above is lovely. Sounds like a similar situation to mine, and a lot of what I do. I recently turned 25 in March, always saved, but since then been taking it a bit more seriously , and changed my attitude to money and it's going great so far.


I'm interested in hearing your money and saving tips, if you care to share please? And you said you went from having to £3000 to £25,000 in two years by adapting lifestyle choices, please share I'm always intrigued to hear ...


Aim is to build up savings generally, and I'm also saving to buy.

RandomUser923759

You might benefit from a prepaid prescription if you get at least 1 a month. It’s 10.40 a month and you pay 10 of 12 a year.