What are your saving goals 2019

Lisi299

Hi

I am looking to start saving this year as an emergency fund is a must these days. I would like to have at least 1k by Xmas, more if possible.

I’m wondering what are you saving for and what are you doing to boost your savings?

Also how much have you go so far, do you use regular savers etc to make the most of your money?

Thanks guys have a lovely day :beer:

polymaff

Lisi299 wrote: »

Hi

I am looking to start saving this year as an emergency fund is a must these days. I would like to have at least 1k by Xmas, more if possible.

I’m wondering what are you saving for and what are you doing to boost your savings?

Also how much have you go so far, do you use regular savers etc to make the most of your money?

Thanks guys have a lovely day :beer:

The easiest way to get on the way to £1k saved by Xmas starts with a strategy to take up as many of the bank account switch bonuses as you can. Money for (just about) nothing.

Way behind in terms of £ / annum are certain current accounts - and regular saver accounts fed from regular income. You've got to fund these, though..

Something not so obvious is careful shopping in order to free up funds you can save. I guess that by using offers I save about £3-400 a year. That's equivalent to the interest on £24k in a good easy access account.

Alexland

If you are canny keeping your eyes on deals and working with friends and family it should be possible to generate around £1k pa in various cashback, bank switching and referral incentives?

Most of our financial goals involve long term investments to help our children and pay for early retirement. We have become accustomed to our money going up and down with the asset markets so it is hard to set any short term wealth targets. Some years we could work really hard stashing money away and still end up with less money - that's just how it goes.

Alex

Lisi299

I know what you main I tried to save 500 a month last year and got really stressed each month when I couldn’t do it

So this year looking at saving a more achievable amount with more if possible, at the moment have been putting away 100 a month so far so have a little bit, just need to boost it more.

I will look at the bank switching options I would like a regular saver with 5% which is why I opened a nationwide, however these have now stopped!

Thank you both for your help :T

polymaff

Lisi299 wrote: »

I know what you main I tried to save 500 a month last year and got really stressed each month when I couldn’t do it

So this year looking at saving a more achievable amount with more if possible, at the moment have been putting away 100 a month so far so have a little bit, just need to boost it more.

I will look at the bank switching options I would like a regular saver with 5% which is why I opened a nationwide, however these have now stopped!

Thank you both for your help :T

There are still regular savers offering 5% but what will you get after a year of £100 per month? About £27 maximum.



RBS switching offer - £175, first Direct - £125, M&S - £180, Halifax - £159

Lisi299

Totally right it’s not a lot for 100.00 am planning on saving more, that’s just the minimum I want to save each month. Want to have a bit there before I open a regular saver so can drip feed it in.

I have a house and a car things break so don’t want to over commit and get stressed :rotfl:

polymaff

Lisi299 wrote: »

Totally right it’s not a lot for 100.00 am planning on saving more, that’s just the minimum I want to save each month. Want to have a bit there before I open a regular saver so can drip feed it in.

I have a house and a car things break so don’t want to over commit and get stressed :rotfl:

My financial stress here is waiting for the free £135 to turn up from RBS - and what I'm going to do once I've worked my way through the many hundreds of pounds of M&S vouchers I've had. Good grief, there's only about £200 of them left - and then I'll actually have to spend real money there. :rotfl:

Don't ignore the final thrust of the barmy marketing initiatives from the institutions.