TSR Money Savings Club

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Got my P60 for 2011/12 from work. Low and behold I've overpaid income tax by £1200. That is a nice lump sum (tax free of course :smile:

) that will be making its way to my ISA. Although it isn't a great way to earn interest, having the government hold onto your money for 9 months is an excellent way to save.

Excellent stuff my friend well done to you. What will this bring your savings up to?

Reply 401

JLKeating

Hi all,

Just opened my own bank account the other week to get my wages to go in to. I had £560 in a connected account to my mum's account and she transferred £400 of that into my savings. Pay day is on Friday and I'm getting £185. My hourly rate is £4 so I think it is a fairly decent wage.

Currently I'm saving to pay for half of my school trip to Kenya next February! Very excited! Then I will just keep saving, I prefer to save than spend :smile:

This was posted from The Student Room's Android App on my HTC Salsa C510e

Reply 402

DeeDub

Original post by Leavemyarcelona

Excellent stuff my friend well done to you. What will this bring your savings up to?

Thanks. It will pretty much double my savings. I've had to repay my parents some money they lent me after uni, so I've been splitting my extra money between repaying them and saving as I don't want to be skint again. This time last year I had no money, so it is certainly an improvement. Not really sure what I am saving for but at least when I know I will have the money already, although my initial aim is to have about 3 months salary saved up just in case of emergencies. I never use to be a saver but these last few months I've really got the savings bug.

How long have you been saving for and how is it going?

Reply 403

letsdothetimewarpagain

Original post by Leavemyarcelona

Has thread died or something? Come on people, how are the savings going? I need money related chat! :smile:

Savings are gone. When I get back from my travels I'll start saving again.

Reply 404

insignificant

Decided to not get a car. I can't bring myself to spend such a ridiculous amount of money. I am such a saver at heart! Need to sell uni books, and sell old clothes because I've lost weight so a lot of clothes are too big for me. Gonna be a project for the next few weeks. Hopefully get a couple of hundred. Im also wanting to set up my own online business, which I am willing to invest that money in so its not like I'm losing really. Not sure selling what but I definitely do not want to be working for anyone but myself after uni.

Reply 405

UniversalAutocrat

I have £100 - what can I do with it?

Reply 406

Slowbro93

So I didn't get any proper paid work. But my aim for the summer is to clear my overdraft for September :yep:

I have admin work from Monday and I tutor one student once a week so some money is coming in :yep:

Reply 407

UniversalAutocrat

Original post by cpdavis

So I didn't get any proper paid work. But my aim for the summer is to clear my overdraft for September :yep:

I have admin work from Monday and I tutor one student once a week so some money is coming in :yep:

How did you get the admin work - did you have admin experience beforehand? :smile:

Reply 408

Slowbro93

Original post by UniversalAutocrat

How did you get the admin work - did you have admin experience beforehand? :smile:

It's with a company that I've been working with volunteer wise. It's only 2 weeks, but still some money :smile:

I do have admin experience (about 3 years), but no one was hiring me :sad:

I'm okay about it now :yep:

Reply 409

Groat

Original post by cpdavis

So I didn't get any proper paid work. But my aim for the summer is to clear my overdraft for September :yep:

I have admin work from Monday and I tutor one student once a week so some money is coming in :yep:

Admin work from Monday should be good! How much do you have to clear?

Reply 410

Slowbro93

Original post by Groat

Admin work from Monday should be good! How much do you have to clear?

yes it should :sexface:

Well I have about £300 to clear now (was £650 at one point :eek:

) but I feel that so long as I don't go crazy with spending it shouldn't be a problem.

I'm also going to start a tutoring business next year from September. Thinking of taking on 5 students pw and therefore bringing £100 pw.That would cover most of my rent and I can keep saving :biggrin:

Reply 411

Groat

Original post by cpdavis

yes it should :sexface:

Well I have about £300 to clear now (was £650 at one point :eek:

£300 should be manageable. I have friends who are sitting on £1000 overdrafts. :lolwut:

That's the benefit of living in London! I don't really live in an area which would make tutoring worthwhile (unless they travelled to me). :sad:

Reply 412

Slowbro93

Original post by Groat

£300 should be manageable. I have friends who are sitting on £1000 overdrafts. :lolwut:

That's the benefit of living in London! I don't really live in an area which would make tutoring worthwhile (unless they travelled to me). :sad:

I haven't hit that stage ... yet :mmm:

Thinking about it, I would probably focus on doing GCSE and A level maths and leave the physics :ahee:

I would have said you could start when you join uni, but then I remembered the no work policy :teehee:

Reply 413

Jennie1987

I keep spending but its all necessary - holiday coming up, losing weight need new clothes, already bought the currency a couple of months ago so that moneys gone, paid the outstanding balance on the holiday, paid a butt load for my car which then did the same thing so my parents paid even more (first time they have cos I hate having someone else pay for me but I had no money) and it just happened again today so can foresee that coming, bought a fine jewellery necklace I had been saving for already and had actually been searching for for over 10 years, borrowed money for a new gadget I needed now (mega time saver if it works out if not have 60 day money back guarantee), bought birthday presents, bought leaving presents for great friends at work...aargh hate and love spending, getting what you want is great especially when waiting for it for years and knowing thats what you need but still missing money, so have done 2 six day weeks over the last 14 days to get overtime to repay myself lol.

Reply 414

Rakas21

How is everybody getting on?

Essential Outgoings per month..
Toiletries - £10
Food - £90
Travel - £72
Gym - £18
Phone - £10

Total - £200

Remainder...

Spend: £150

Savings: Anything above £350

Savings (things to save for)...

Phone - £400
Computer - £500
Masters - As much as possible

...

My primary aim by this time next year is to have saved £4k so that i can get the phone, upgrade the computer and live a life of relative luxury in my third year.

During my third year i will then save towards my Masters (though i may do a Sandwich/Year Abroad).

Reply 415

Rakas21

Two part time job interviews coming up so i should be able to save pretty much all income i get from them and pay for the phone and computer from my student loans.

Reply 416

Leavemyarcelona

I finally broke the 2 grand barrier lol. I've been working like a Trojan on speed for the last few months, and I'm just teetering on the edge of burnout lol. Hopefully the savings will be nearing the five grand mark by christmas.

One can only hope lol :moon:

Reply 417

Rakas21

Nothing came of the two interviews.

Managed to find bargain accommodation for £50 per week so have bought the computer and the phone will be coming out of my January payment which means that even without a job i would have £1100 spare from my April payment to put towards savings.

With that said i'm really going to get on it and get a job by the end of this month, i figure i should be able to get about £500 per month comfortably so that i can pay next years rent in advance and get a discount thus being able to save most of my student loans.

Reply 418

Rakas21

Original post by Leavemyarcelona

I recall when i was 16 doing my AS levels i got 2 jobs and went into overdrive, money can be very addictive.

Reply 419

Jennie1987

I think I almost have £2000 in my two savings accounts - I worked loads of ovetime like Leavemyarcelona but they held a month back from us so it all came at once. I have had two interviews today for new jobs as mines getting worse and worse, both pay at least £1500 per annum more than my current job which has just increased by £700 per annum so although I wont get to £5k by Christmas I hope to have some more. Please bear in mind a grand or so will be gone early next year due to a holiday.