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Atrixa's First Step to the Property Ladder

edited 30 November -1 at 1:00AM in How much have you saved?
87 replies 22.4K views
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Replies

  • savingwannabesavingwannabe Forumite
    14.8K posts
    Tenth Anniversary 10,000 Posts
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    I don't know enough about them (as too old) but it's good to discuss all of this.
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 12 /31 May NSDs.
    Saving change in money box.
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    I've put in another £142.85 into my emergency fund this month, bringing the total to £231.66. Almost halfway full!
    I work in Pensions and I'm currently saving for my first house deposit :T
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    I get paid soon, so I've done my budget for the next period and due to Christmas, I haven't been able to budget any savings in. However, on the bright side I won't need to dip into what I've already saved and I won't need to get into any debt!
    I work in Pensions and I'm currently saving for my first house deposit :T
  • savingwannabesavingwannabe Forumite
    14.8K posts
    Tenth Anniversary 10,000 Posts
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    Well done on emergency fund Atrixa please keep up the good work. I'm the same as you don't worry I am not saving much this month as it will be used for Christmas. I hope you are having a good weekend.
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 12 /31 May NSDs.
    Saving change in money box.
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Thanks savingwannabe! I did manage to put away a few quid in the end. I had an unexpected windfall of about £50 and I didn't spend too much of it.

    I got paid early this month so my savings now look like this:

    Emergency fund: £313.58
    Sinking fund for holidays/trips: £74.72

    I ended up getting a great deal on train tickets and theatre tickets down to London in Jan. I can thank ML for the tip off on the Mastercard theatre sale! I'll try to be as frugal as possible when I'm down there. On my last trip to London I came in very under budget, which was unexpected.

    Merry Christmas MSE-ers!
    I work in Pensions and I'm currently saving for my first house deposit :T
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Came in under budget again for my weekend in London, taking advantage of restaurant offers and not buying bottles of drinks etc. Quite pleased with that. Not a huge amount added to my savings as I needed to replace my boots:

    Emergency fund: £338.58
    Holiday sinking fund: £30
    I work in Pensions and I'm currently saving for my first house deposit :T
  • savingwannabesavingwannabe Forumite
    14.8K posts
    Tenth Anniversary 10,000 Posts
    ✭✭✭✭✭
    Well done on spending under budget. That fab.
    I like the sinking funds idea. I do look at Dave Ramsey sometimes. V inspiring.
    Trying to be frugal 18/31Jan; 15/29 Feb 26/31 March 23/30 April 12 /31 May NSDs.
    Saving change in money box.
  • pinknsparklypinknsparkly Forumite
    492 posts
    Fifth Anniversary 100 Posts
    ✭✭
    I love it when I manage to sneak in under budget :) Feels so great, even if it's by pennies!! This may be a silly question, but what are "sinking funds"? I've not heard that term before!
    MFW2020 challenge #99: £1,975.86 / £3,600
    MFiT-T5 (Jan 2019 - Jan 2022) challenge #99: £13,013.59 / £30,000
    Initial MF date (18th Dec 2018): Jan 2054 Current MF date: Nov 2051 :D
    Last updated: 09/05/2020
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Sinking funds are (as far as I know) a Dave Ramsey thing as savingwannabe mentions. It's basically money put aside for a specific purpose, like a new car, a holiday or house repairs. It makes sure that you don't need to use credit if you know that a cost is coming up. A lot of people have Christmas sinking funds (but just might not call them that), which I think is a great idea.

    Dave Ramsey has 'baby steps' you can follow for your financial security, but I find some of them to be quite US-centric and don't make as much sense over here. He's great for inspiration, though.
    I work in Pensions and I'm currently saving for my first house deposit :T
  • atrixaatrixa Forumite
    94 posts
    Second Anniversary 10 Posts
    Another month, another payday. Savings now look like this:
    Holiday Fund £50
    Emergency Fund £445.74

    I should make my £500 goal next month :D

    Some good news, I got promoted at work months ago and they've finally sorted out the pay rise, so I'm now a bit better off each month. I also raised my pensions contributions to 5%, which is matched by my employer. Work has annoyed me a great deal with the way they've worked out the pay rises though (a few of us got promoted at the same time). At least it's given me a kick up the bum to see what other jobs are around. At the moment it looks like not much, but I'll keep an eye out and try to stay positive in the meantime.
    I work in Pensions and I'm currently saving for my first house deposit :T
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