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  1. #11
    Members BBassic's Avatar
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    0 Not allowed!
    33 years old, earning around the £40k mark but have debts to my parents which I'm paying back so have almost nothing, around £400, in savings.

    Once I've repaid them I'll finally be able to start saving money.
    'Football implies the desire to suffer' - Theodor Adorno
    Football V Homophobia | Football v Homophobia in association with Pride Sports

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    • #12
      You can change this Bozza's Avatar
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      6 Not allowed!
      Quote Originally Posted by spongy View Post
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      Absolutely zero.

      Don't earn enough to.

      When I can save 200 quid the car fails an mot or need to buy something else that's broken. Been saving for a new bed for a year then the Mrs car dies. Always one thing after another.

      Earn 50k? 30k would do right now!
      Possibly the best thing I ever did money-wise, quite early on, was to setup a separate bank account that I moved cash into every month on pay day for all the things that were either annual bills or to cover things that could happen from time to time. The amount I saved was equal to what each of those things cost a year divided by 12. So, for example (and some of these numbers are just there for illustration)...

      - Car Insurance - £30
      - Car Tax - £20
      - MOT and car maintenance - £30
      - TV Licence - £10
      - Christmas (presents and general increased expenditure) - £50
      - Other stuff going wrong - £50

      etc etc

      Now, I fully appreciate that if things are tight, it may be easier said than done to get this up and running, but it meant that I was constantly saving for things that I'd need to pay for, but I wouldn't have one of those "I could really do without the car needing new tyres as the washing machine needs repairing too" months.

      I'd keep track of each individual "pot" within the account, and I'd often find that one pot may go negative but that would be offset by other pots being positive. At the end of each calendar year, I'd asses whether I was saving enough or too much for each individual thing, and adjust if required.

      It really made a difference when it came to money stresses, at a time when I didn't have much spare money.
    • #13
      Members dazzer6666's Avatar
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      0 Not allowed!
      A couple of years gross pay or thereabouts. Saved very little at all until early/mid 40s but a combination of clearing mortgage, fewer other commitments and job changes since then have helped.
      "Prejudice is a great time saver. You can form opinions without having to get the facts"
    • #14
      Members
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      Oct 2009
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      7 Not allowed!
      I have a few grand but spunking it all on a new bathroom which is probably a really silly idea. but I will stop overpaying the mortgage for a few months to pay it back.

      I am over paying the mortgage by £500 a month in an effort to be mortgage free in 9 years (so I will be mid 50's) this seems more sensible than money in the bank not earning interest.

      However I am an only child and when father snuffs it I will inherit his property and a few sheckles so I do have that to look forward to. In an unrelated question - how cold will it be this winter and can anyone tell me the best way to disable a boiler?
      You put your left leg in, your left leg out.

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    • #15

      0 Not allowed!
      Where's the poll? £5k + trying to save for a deposit someday
    • #16

      0 Not allowed!
      Quote Originally Posted by Bozza View Post
      This quote is hidden because you are ignoring this member. Show Quote
      Possibly the best thing I ever did money-wise, quite early on, was to setup a separate bank account that I moved cash into every month on pay day for all the things that were either annual bills or things that could happen from time to time. The amount I saved was equal to what each of those things cost a year divided by 12. So, for example (and some of these numbers are just there for illustration)...

      - Car Insurance - £30
      - Car Tax - £20
      - MOT and car maintenance - £30
      - TV Licence - £10
      - Christmas (presents and general increased expenditure) - £50
      - Other stuff going wrong - £50

      etc etc

      Now, I fully appreciate that if things are tight, it may be easier said than done to get this up and running, but it meant that I was constantly saving for things that I'd need to pay for, but I wouldn't have one of those "I could really do without the car needing new tyres as the washing machine needs repairing too" months.

      I'd keep track of each individual "pot" within the account, and I'd often find that one pot may go negative but that would be offset by other pots being positive. At the end of each calendar year, I'd asses whether I was saving enough or too much for each individual thing, and adjust if required.

      It really made a difference when it came to money stresses, at a time when I didn't have much spare money.
      This is extremely good advice. In fact I can't see how anyone with only just enough money annually could possibly manage without doing this. These days it is made a bit simpler by more things being on monthly DD but "Christmas & Birthdays" and "House & Car" are essential pots to save into every month if you are on a limited and fixed income ...
      The BHAFC forum is utter shite. They literally talk about everything except their own football club on there.
    • #17
      Well, is it? Is it PotG?'s Avatar
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      10 Not allowed!
      About £8.60, but Initiative Q may well change that.
    • #18

      0 Not allowed!
      About 1 and a half years salary.

      It's all been saved as a deposit for a flat, but now struggling to find anything in my budget which hasn't got a 'issue' of some sort attached to it.
      Intellectual slacker.
    • #19

      0 Not allowed!
      Not as much as i’d like. I was dreadful with money until about 25 though. I still find it incredible that money management wasn’t taught in school. I’m 31 now and have pretty much fully sorted myself out. Just finishing off my last small bit of interest free debt and then will concentrate on building up the savings. I’m over paying the mortgage by about £300 a month at the moment though as think that is much better concentrated on in the long term.
      Well the thirty minutes are almost up Swindon fans but your not there yet. in it goes (yyyyyyeeeessssssss) ooohhh its gone in, Brighton in added on time have snatched a goal through Virgo!!! Incredible!! Once again there is late, late, late drama in the playoffs!!

      Unused substitute REMF 5.

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    • #20
      Members Weststander's Avatar
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      4 Not allowed!
      Quote Originally Posted by Moshe Gariani View Post
      This quote is hidden because you are ignoring this member. Show Quote
      This is extremely good advice. In fact I can't see how anyone with only just enough money annually could possibly manage without doing this. These days it is made a bit simpler by more things being on monthly DD but "Christmas & Birthdays" and "House & Car" are essential pots to save into every month if you are on a limited and fixed income ...
      Many millions can’t afford to do that. Instead fire fighting each month to meet each DD or groceries bill as they arise.

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