TSR Money Savings Club

Good good - still currently on my target .

What is your target my friend?

My ambition is to be worth about £19-20k by August 2012 and then start university in September.

I can save/invest about £1k a month. I have a small amount saved up in a Savings account which provides about 3.5% interest an annum I think. I have about £7k locked away if life fails. I have a few small online eBay businesses to provide me with a few extra £ to enjoy myself (clubbing, partying, alcohol, entertainment..etc). I further have about £1.25k invested in Zopa..see if I can make a small return from that? I mainly live my life through a interest-free overdraft. I tried investing in shares/stocks, I've lost about £6k through doing that eek, and I am trying to minimise that loss through other ventures.

Big ambitions, big plans...let's make it happen! I'm 19 btw

Bump bumpity bump!

Quick update for me

Had to quit my part time job as uni have changed my cobbled together degree so I will be doing 2 more modules than everyone else therefore I won't have time to eat never mind have a job.

Bought new make up which cost £80 altogether as I had run out.

Got around about £100 for christmas so thats going straight into the bank.. also confirmed I will be getting £800 bursary from uni in Feb.. and I'm trying to look for a full-time summer job as I won't have anything to do from May to September apart from resits if any.

But Its been good moneysaving so far.. I don't buy food and drinks anymore I fill up my own water bottle and make sandwiches at home, it makes SUCH a difference.

Very nice, you are well organised.

What will this bring your savings upto then?

Hmm.. I won't know exactly until january because i have a load of books I need to buy . my plan is to put all of my money that I get into my savings account, and then live in my overdraft in my student account, and then each term take out money from my savings to make the balance back to 0 . I think next term won't be anywhere near as bad as this term in terms of spending as I've had christmas presents and lots of family birthdays and stuff.. should just be straightforward. Should be around £3500 by the end of April hopefully.

Excellent. What were you working as before, if you don't mind me asking?

Thanks I was meaning to bump this thread as it's gone dead for a while.

I trust the Christmas spending hasn't damaged everyone's savings too much?

Quick update for me

Had to quit my part time job as uni have changed my cobbled together degree so I will be doing 2 more modules than everyone else therefore I won't have time to eat never mind have a job.

Bought new make up which cost £80 altogether as I had run out.

Got around about £100 for christmas so thats going straight into the bank.. also confirmed I will be getting £800 bursary from uni in Feb.. and I'm trying to look for a full-time summer job as I won't have anything to do from May to September apart from resits if any.

But Its been good moneysaving so far.. I don't buy food and drinks anymore I fill up my own water bottle and make sandwiches at home, it makes SUCH a difference.

You're welcome




A bursary is a college scholarship, right?

Well it was in a pub doing a bit of everything. It was only for 2 weeks the. I had to have a month off as I had surgery on my toes so yeah.. Still cleared a chunk of my overdraft though.

You definitely have your head screwed on right. I love saving money, it gives me great peace of mind. So what is it that you're saving up for exactly, or do you just enjoy knowing the money is there?

Kinda, it's money that you get if your parents earn under a certain amount.

I like the idea of buying pretty much everything I'll need for the next few months/years, and then not having to buy for a good while. I do it with running stuff, and I'm hoping to build a pretty good PC that I won't have to touch for a while. I think it's nice knowing that you have all your things, and you're making the most of them, and that feeling makes me not feel compelled to buy for a long time, allowing me to save up quite a bit!