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How long would it take for you to save the following amounts :-

How long on average would it take for you to save up the following amounts :-

£100

£500

£1000

You may only use a current or saving account with a bank, therefore no such thing as placing it in any kind of investment vehicles or purchasing of shares etc.
(edited 9 years ago)
If I really wanted/needed to save that amount of money and was working consistently I imagine I could do it in a relatively short period of time. I say that because often people are working 40 hours one week and are only working 20 the next. If I'm working 40 hours every week, I could have £100 saved in a week with ease. I could save £500 in a month and £1000 in two months. I wouldn't be left with much disposable income to spend on leisure etc. but if I needed to save those amounts, it's a sacrifice I'd be willing to make for a couple of months if necessary.
Reply 2
1 month. The pros of double income...😊


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Do you mean by accruing interest?
I don't understand your question otherwise.
I could put £100 in an account now.
Reply 4
If you just mean placing the money in an account from salary, the first two I would do one month then the last the next.


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Original post by Alfissti
How long on average would it take for you to save up the following amounts :-

£100

£500

£1000

You may only use a current or saving account with a bank, therefore no such thing as placing it in any kind of investment vehicles or purchasing of shares etc.


It wouldn't. I'd ask the mater for cash or plastic. I'd probably have to face the third degree, though. You know. "What do you want it for?", "It's for liquor, isn't it?", "I sha'n't condone alcoholism", "Where are you going?", and a whole pile of bulls#!t besides.
(edited 9 years ago)
Original post by Alfissti
How long on average would it take for you to save up the following amounts :-

£100

£500

£1000

You may only use a current or saving account with a bank, therefore no such thing as placing it in any kind of investment vehicles or purchasing of shares etc.


Your question doesn't make sense. Saving happens over a period of time. I could put all of those amounts in a bank account now but that's not saving. It's only saving if I don't spend it again. But then how long do you have to keep the money for it to qualify as 'savings'?
Reply 7
Couple of days for all 3.
Reply 8
Immediate :smile:
1 month, 2 months, 4 months...

Its not hard to save. You just go without stuff.
Reply 10
3 days
2 weeks
1 month
By projected income, taking into account breakdown against pay. ie Paid monthly but daily amount is calculated and used.

£100 - 1 day
£500 - 5 days
£1000 < 2 weeks
Reply 12
Original post by Alfissti
How long on average would it take for you to save up the following amounts.


£100 - 1 month

£500 - 1 month

£1000 - 1 month


Get paid monthly.
I've got savings of 2k
But not earning atm. If I was, would take a month to get £100 and £500.
£1000 for 2 months
One minute for all three.
Original post by Alfissti
How long on average would it take for you to save up the following amounts :-

£100

£500

£1000

Zero seconds for all, I have that much (plus hell of a lot more) in my accounts currently.
first one would have to wait til I get my student finance in September but could easily put £100 aside, I could probably put more to get it to £500 by end of the year. I wouldn't be able to have an excess of £1000 until the following September though.
Original post by Alfissti
How long on average would it take for you to save up the following amounts :-

£100

£500

£1000

You may only use a current or saving account with a bank, therefore no such thing as placing it in any kind of investment vehicles or purchasing of shares etc.


As i have no job at the moment i can't say.

If we assume it's October, i have my student loans and I've found a job with 10 hours per week then 1 month, 3 months and 5 months.
1 month for all 3. On a salary where I'm paid monthly.
Reply 19
Just over a month.

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