How much can you save?

tara747 · 30 June 2017 at 1:03PM

JAMIEDODGER wrote: »

Well done Tara and Kittenkicks!!! You are both doing amazingly well!

I'm just off the starting block as far as savings go. I have joined the save 12k thread.

In May I managed to save £850.

I include money I send to my personal pension, but not my works pension. It also includes money sent to my S&S Isa, P2P and a regular saver.

Total savings end of May:

£4534.85

Jamie x

Well done Jamie, that's great going

Keep it up!

tara747 · 30 June 2017 at 1:03PM

June payday update from me!

I saved £878 this month - that makes £5,723 so far in 2017 and a grand total of £114,845 altogether.

:beer:

snowqueen555 · 10 July 2017 at 1:37AM

I've been saving really hard these past 3 years, I've stopped living and everything has been about living on a budget, it's really tiring.

I am actually going part time next year due to burn out. I earn below 19k per year but with overtime and frugal living I am often saving 50-60% of my take home pay.

Life is for living, I have to adjust to treating myself and accepting I can only do so much.

stoozie1 · 10 July 2017 at 6:01PM

Sorry to hear that

Have you been saving for something specific?

joestones76 · 17 July 2017 at 9:23AM

Hi guys,

Want some advice. I'm 20 years old and have a full time job, I earn 16k a year.

I'm wanting to know what savings account is the best for me, I went into my bank and they said they couldn't advise me. I've looked on all the website but I don't get what half of it means!

Any suggestions? x

Eco_Miser · 17 July 2017 at 5:39PM

The highest returns are from current accounts such as Nationwide's FlexDirect, and regular saver accounts such as Nationwide's Flexclusive, both of which pay 5% AER on a limited amount. See the links near the top of this page, http://forums.moneysavingexpert.com/showthread.php?t=5374614 and http://forums.moneysavingexpert.com/showthread.php?t=608697 for more options.

However, this isn't advice, it's information on what is available - only you can know what is best for you.

tara747 · 28 July 2017 at 1:45PM

snowqueen555 wrote: »

I've been saving really hard these past 3 years, I've stopped living and everything has been about living on a budget, it's really tiring.

I am actually going part time next year due to burn out. I earn below 19k per year but with overtime and frugal living I am often saving 50-60% of my take home pay.

Life is for living, I have to adjust to treating myself and accepting I can only do so much.

Good on you snowqueen555, sounds like you're making absolutely the right decision and have a solid financial footing. I wish you luck

tara747 · 28 July 2017 at 1:46PM

July payday update!

Pretty good going this month, I saved £1,347. That's £7,070 so far in 2017, and £116,192 overall.

Hoping I can break the £120,000 mark this year!

:beer:

Shrewbie · 2 August 2017 at 11:38AM

Hi everyone

Been lurking and feeling inspired by your progress.

I became debt free in 2013 (around £7K post uni and travel debt) but never managed to build up any savings. I was living in London and earning a good wage but never prioritised saving. All that changed this year in April when I was made redundant from my job after 7 years and received a substantial (more than I was expecting!) redundancy package. I took off to travel around Central and South America which has been a dream of mine for ages.

After 4 months of travelling I am now using the money cushion to start a new life in Spain with some friends. I am incredibly happy to be finally living a dream I've had for years, and have a potential job lined up in September, however I am aware that my income will be substantially less and I need to be better at managing and saving my money. MSE helped me get through my struggles to be debt free so I am returning for fresh inspiration and support to help me build my savings for future travel and potentially look to buy property in Spain in the future if the circumstances are right.

My new income will probably be around 1,200- 1.500 EUROS before tax which is 1/3 of my previous London income but it's worth it for sun, cheap wine and tapas (well I think so anyway!!)

I'm excited to get started - first things first I need to secure a job and make a budget, and try my best to live very frugally in Spain for the next month before work starts. It shouldn't be too difficult, the beach is free after all :-)

I have £5K in savings currently and hoping to add to this to get to £10K by at least this time next year but hopefully before.

sorry for the rambling essay and well done everyone on the savings.

tara747 · 12 September 2017 at 2:41PM

Shrewbie wrote: »

Hi everyone

Been lurking and feeling inspired by your progress.

I became debt free in 2013 (around £7K post uni and travel debt) but never managed to build up any savings. I was living in London and earning a good wage but never prioritised saving. All that changed this year in April when I was made redundant from my job after 7 years and received a substantial (more than I was expecting!) redundancy package. I took off to travel around Central and South America which has been a dream of mine for ages.

After 4 months of travelling I am now using the money cushion to start a new life in Spain with some friends. I am incredibly happy to be finally living a dream I've had for years, and have a potential job lined up in September, however I am aware that my income will be substantially less and I need to be better at managing and saving my money. MSE helped me get through my struggles to be debt free so I am returning for fresh inspiration and support to help me build my savings for future travel and potentially look to buy property in Spain in the future if the circumstances are right.

My new income will probably be around 1,200- 1.500 EUROS before tax which is 1/3 of my previous London income but it's worth it for sun, cheap wine and tapas (well I think so anyway!!)

I'm excited to get started - first things first I need to secure a job and make a budget, and try my best to live very frugally in Spain for the next month before work starts. It shouldn't be too difficult, the beach is free after all :-)

I have £5K in savings currently and hoping to add to this to get to £10K by at least this time next year but hopefully before.

sorry for the rambling essay and well done everyone on the savings.

Welcome, Shrewbie! Wow, well done you, sounds like a fabulous trip

I'm envious of you leaving the UK to set up home in Spain, you're getting out at the right time imo. I look forward to following your progress here.

How much can you save?

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