[Finance] How much savings do you have ?

giveusfalmerplease said:

Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..

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giveusfalmerplease said:

Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..

Click to expand...

giveusfalmerplease said:

Had a £100 per month monthly savings scheme which could be used to buy some shares few years ago from work - needed to save for 5 years though. Made the worst investment decision of my life after three years and cashed in (my 3600 made like £200 interest). Bloke next to me at work did the same thing but completed the scheme. By the time he came to buy his shares his £6000 (for full 5 yrs) plus £1000 bonus for completing the scheme enabled him to buy the shares at the original price when the scheme started (about £11 each) and then sold them immediately at the market value which was like £80 each at the time - so he netted like 55k so for the sake of saving another 2 years it cost me 52k in lost earnings

Ergo if your firm offers a profit sharing scheme - INVEST! NB most proper schemes are backed by banks or building societies so at worse you would het your money back if the firm goes bust..

Click to expand...

Cian said:

House is still eating everything - bought a just barely habitable (intact roof, water/sewage and electricity) probate sale a few years ago and I'm getting towards the end of the heavy expenditure. Windows, insulation, water tanks, heating replacement done and a new front door paid for not installed yet; rewiring is last of those. So depending on whether I've just paid for something or just about to it'll be anywhere from close to 0 to a few grand

However I've no short term loans, no HP contracts, no credit card balance and the mortgage is at about 27% LTV now. Pension pot has a reasonable amount for a 31 year old but really not enough. About a grand in premium bond equivalents and a few grand in Irish Continental Group (Irish Ferries) shares. When the house stops costing thousands every few months I intend to throw the equivalent in to savings and investments 50/50

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sir albion said:

Don't care about savings or pensions as I live for the day as we could die anytime....why save for the unknown?

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