I know you all love an SOA

KeepOnKnitting

enthusiasticsaver wrote: »

Obviously there are savings to be made but you have no debt or shortfall so I am not sure why you are asking. If the lodger moved out though you would have problems so building up a cash buffer would be useful.

What is the deal with car as it does not show in debt or assets?

I am asking because multiple sets of eyes are better than one. I have learned a lot, but I am very far from being perfect. You yourself have summed up exactly why I am asking. I have been in dire straights before and I want to avoid being there again.

I bought the car cash. I would imagine I might get £1,300 if I sold it, but I need it for the foreseeable future, so I cannot do this.

Bedsit_Bob wrote: »

It's still £948 per year, which, for one person, seems high.

Does that £948 also cover spending money (drinks, local travel, souvenirs etc.), or just the actual holiday?

You should also have contents insurance. Shouldn't cost more than about £10 per month.

That money covered everything. Spending, food, seeing the sights of Paris, Barcelona and other cities, transport, accommodation, the lot. I had thought I did it pretty cheap, but I would love ideas to travel cheaper.

I probably should have contents insurance, you are right.

[Deleted User]

KeepOnKnitting wrote: »

That money covered everything. Spending, food, seeing the sights of Paris, Barcelona and other cities, transport, accommodation, the lot.

In that case, it's not so bad.

When referring to the price of a holiday, most people only mean what they paid to the Travel Agent.

enthusiasticsaver

KeepOnKnitting wrote: »

I am asking because multiple sets of eyes are better than one. I have learned a lot, but I am very far from being perfect. You yourself have summed up exactly why I am asking. I have been in dire straights before and I want to avoid being there again.

I bought the car cash. I would imagine I might get £1,300 if I sold it, but I need it for the foreseeable future, so I cannot do this.



That money covered everything. Spending, food, seeing the sights of Paris, Barcelona and other cities, transport, accommodation, the lot. I had thought I did it pretty cheap, but I would love ideas to travel cheaper.

I probably should have contents insurance, you are right.

Then I would prioritise saving an emergency fund as the best safety net you can go for. Improving your brothers property and your living environment and holidays are certainly things worth doing but not at the expenses of having a safety buffer. However you bought the car for cash which is definitely good so I imagine that cleaned you out. It should still show as an asset even if you have no intention of selling.

Can you make any savings on the train travel to uni? Is it a season ticket and are you getting student discounts etc?