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  1. #41
    Really Up the Junction DIFFBROOK's Avatar
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    Each month, I have a spreadsheet showing our incomings i.e what I and the Mrs earn, plus child benefit. On the other side is all our outgoings, Gas/Electric, water, petrol, our direct debits etc. I also set out what as a family we will spend on going out that month. Anything left is over is savings and goes in a ISA.

    Its a bit micro management, but it has meant that as a family we never have had outstanding credit cards, with good savings.

    I don't know how people manage their money unless there is some kind of structure.

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    • #42
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      Quote Originally Posted by juliant View Post
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      Me zilch but I also owe zilch too. The Mrs, over 50K held in premium bonds but most of that was an inheritance.
      Without intentionally sounding like an arse..... The maximum one is allowed to hold in premium bonds is £50k.
      Don't take offence. I'm normally ruder than this.
    • #43
      Pocket Rocket
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      Not much and don't have any assets, unless you include my Fender Strat that seems to stay around the same price I purchased it at, neither increasing or depreciating in value. I don't owe anything though, have no credit cards and live within my means. Being debt free does come with a certain piece of mind that money can't buy.
      "You? You look like your face fell in the cheese dip back in 1957."
    • #44
      Massive up 170417 LamieRobertson's Avatar
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      Millions
    • #45
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      Quote Originally Posted by DavidRyder View Post
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      Every month I 'save' a few hundred pounds, and try to survive on what is left once I've allocated it all out on monthly bills. But I seem to always end up going back into that money saved! Wish I could save but seem to be breaking even each month. Could be a lot worse though so I'm not complaining.

      Oh, I bought some Millwall shares over 20 years ago (it seemed cool at the time to own part of a club, even if it wasn't mine). Paid £100, I think they crashed soon after and I think they're probably worth about £15 now.

      I have a coin jar too.
      Quote Originally Posted by BBassic View Post
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      Coin jars are actually brilliant.

      I picked up a habit from my parents where when I get home from a night-out or something I'll pop any coin 50p or higher into the jar. Amazing how quickly you can amass a decent chunk of change that way.
      Quote Originally Posted by DavidRyder View Post
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      I'm at the other end of the scale - 10p or less! But maybe I should do 50p or less. They'll be calling me Gecko before you know it!
      My Daughter bought me a couple of years ago a huge Pig money bank, Its about 18 inches from snout to tail 12 inches wide and about 14 inches tall. (You cant open it either)

      I vowed to fill it with only £1 and £2 coins until it was completely full.

      Then some idiot decided to bring out a new £1 coin !!!!! FFS.

      Had to drill a hole in the bottom with one of them kitchen light drills for the ceiling, empty it, bag up the coins to change them when the new ones came out.

      Had been putting coins in there for about 18 months to 2 years, and when it was all emptied, counted and bagged there was £3,000 in there, could not believe it.

      So my ambition is now to fill it completely with £1 and £2 coins. Based on the space the 3k took up, I reckon when filled to the brim there with be 8k to 10k in there.

      Happy Days.

      I now have an old large whiskey bottle for coppers, one on the large Budweiser bottles for all silver and the Pig for the nuggets.

      It's great because I'm old school I only use cash, so you always come home with change.

      Cant be doing with all this credit card sh1t to pay for a night out. Cash is King.
      I am such a Naughty Boy.
    • #46

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      Quote Originally Posted by Da Man Clay View Post
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      Not as much as iíd like. I was dreadful with money until about 25 though. I still find it incredible that money management wasnít taught in school. Iím 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. Iím 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.
      It is as part of PSE, remember doing it at Boundstone with year 11. Big problem is one, nobody takes PSE seriously in year 11, and two, some of the concepts of managing yourself in the real world are alien to the average 15 year old.

      You don't really understand how to manage yourself until you actually start experiencing it.
    • #47
      The ONLY Gay in Brighton El Presidente's Avatar
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      A lot until the divorce, when, in a fit of insanity/depression, I gave it all away.
      Those who can make you believe absurdities, can make you commit atrocities.
    • #48
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      I owe much more on my mortgage than I have in my savings accounts, so I don't really think of myself as having "real" savings.

      But I echo the advice above about getting separate accounts for saving; I have automatic payments after payday that move money to 3 or 4 different types of saving account (ISA shares, cash saving, shares etc.) with different levels of time-based access. Then I try to overpay the mortgage with any left over at the end of the month. That way saving becomes part of my budgeting, not some extra. It does mean that we have less ready cash (holidays don't happen very often), but I think it's safer.

      Note that the above was determined after many years of not getting it together financially and realising that I needed to change.
    • #49
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      100k but that's it. No investments, a meagre pension to look forward to. no home besides a potting shed on a beach in India. Yet somehow I feel I wouldn't swop places with many.
    • #50
      Originally the Swankers Garage_Doors's Avatar
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      Quote Originally Posted by DIFFBROOK View Post
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      Each month, I have a spreadsheet showing our incomings i.e what I and the Mrs earn, plus child benefit. On the other side is all our outgoings, Gas/Electric, water, petrol, our direct debits etc. I also set out what as a family we will spend on going out that month. Anything left is over is savings and goes in a ISA.

      Its a bit micro management, but it has meant that as a family we never have had outstanding credit cards, with good savings.

      I don't know how people manage their money unless there is some kind of structure.
      I have a similar system but just leave the rest in the bank growing and throw more into a pension pot , is a IS A really worth it? I was under the impression it's only A few %?
      God Save The Queen

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