The 'We're saving for a deposit' thread

poppysarah

Deleted_User wrote: »

. My net salary after tax, student loan and pension etc is £3,600/month of which I am aiming to put aside £1,500 or so in savings. Does that sound reasonable? :A

Feel like there's still quite a long way to go (plus I don't want to buy until I feel like my job is safe; which won't be until end of 2009 at the earliest!)

You spend 2100 a month?

sarastark86

JimLad wrote: »

Student loan interest is currently 2%. My current savings account is fixed at 5% and you can get instant access accounts even today at 3 or more percent. I should imagine the loan interest will drop at its next review as well!

Student loan interest is already or very soon will be 1.5% as it can't be any more than 1% above the base rate. Which is nice.

mouche

poppysarah wrote: »

You spend 2100 a month?

It's not that hard to do even when you're watching your spends! OH and I spend about £1500 on basics like rent, council tax, utilities, telephone, groceries etc. Add in a bit for holidays, some money for gifts and entertainment, travel costs and mobile bills and it all adds up very fast. If the OP can afford to spend it while saving a reasonable amount - why not?

poppysarah

mouche wrote: »

It's not that hard to do even when you're watching your spends! OH and I spend about £1500 on basics like rent, council tax, utilities, telephone, groceries etc. Add in a bit for holidays, some money for gifts and entertainment, travel costs and mobile bills and it all adds up very fast. If the OP can afford to spend it while saving a reasonable amount - why not?

Because you're saving for a deposit?

And you'd be able to buy a house a lot quicker and it'd cost a lot less re:mortgage.

Saver-Rob

I often find those earning the most are the most reckless with money. I'm not trying to tell people what they can and cant spend their money on but it amazes me sometimes. I imagine being on their salary and how much I could save!

poppysarah

Saver-Rob wrote: »

I often find those earning the most are the most reckless with money. I'm not trying to tell people what they can and cant spend their money on but it amazes me sometimes. I imagine being on their salary and how much I could save!

People's expenditure expands as their salary increase.

I've never understood it really... but I am a miser of the first degree I think.

Saver-Rob

No, I dont understand it at all. If I was suddenly on £100,000 a year I still wouldnt stop picking coins up from the street

dippykitty

Saver-Rob wrote: »

No, I dont understand it at all. If I was suddenly on £100,000 a year I still wouldnt stop picking coins up from the street

I do that on auto pilot so I'm sure I'd be the same!

jak

Right today I spent £13 on my weekly shop. I've decided that we can have £50pw towards everything not included in bills eg. food, toiletries, socialising etc. and whatever we don't spend we can put in our savings. This money is for presents etc. also so although it seems a lot, it really isn't that much.
My plan is to find some work asap and also to save as much as possible from my husbands wages. Just did SOA though and we only have about £114 spare each month so unless we want to buy a tent...going to have to think of something!

*off to think of something...*

sarastark86

poppysarah wrote: »

People's expenditure expands as their salary increase.

I've never understood it really... but I am a miser of the first degree I think.

Things creep up on you if you're not careful... I was a penniless student last year spending £20-25 a week on groceries. I'm now earning and so is my boyfriend... and the other day I worked out we were spending £350 a month in Tesco's. What the..!?!? Having some serious cut backs now... pasta bake all the way! It's not even like we were going for the top of the range stuff either... still mostly own brand. Just goes to show how easy it is to let your spending increase I guess. Or we're just greedy.