Year 12s: what will be the first way you research your future options? >>

What are you saving for?

At the end of the month, any excess income that I haven't spent is allocated to one of 5 pots, in this order:

Emergency funds
Travel pot
House deposit pot
Car pot
Long term/retirement pot

If my emergency funds pot is full (it has a £2,000 'limit'), then any excess money overflows into my travel pot. If my travel pot is full (it has a £3,500 'limit'), then any excess money overflows into my house deposit pot etc.

I was wondering, what is everyone else saving for? How many 'pots' of money do you have?

Scroll to see replies

Reply 1

Fickschlitten

Retirement. I aim to retire in my 30s.

one pot- to buy pot

Saving to start my own business
Git $3590 atm....long way to go

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Reply 4

NX172

I'm looking to save money for a Wedding and enough to buy a decently sized family home in Tokyo without a mortgage.

Reply 5

myblueheaven339

At the moment I'm paying off my student overdraft and saving for a new bike! Got married last year so all previous savings went on that.

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Reply 6

evalilyXOX

I am going to London in the Summer with my mum and sister for my 20th birthday so I am saving for trip expenses and possible a new handbag :smile:

Reply 7

fire_and_ice

Well, my savings account has none of my money in it. Though, when I do begin to earn some money (hopefully this summer), I'm hoping to save up to start something on the side - perhaps a small, niche business or get my mum to lend me some of her knowledge and experience on stock trading and get into that...

I don't think I'd really save for anything. By that, I mean I'd probably try to invest in something that gives me a good amount back until I get a proper job. Easier said than done, obviously.

(edited 8 years ago)

Reply 8

SerotoninAddict

I think I'm just a money hoarder, I have no real goal to my saving, I just hate spending money on things I don't need.
But I guess it'll go towards a house eventually.

Reply 9

Death Grips

Saving primarily for an MBA. MBAs at top unis in the US cost about £50k a year.

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Reply 10

jamesthehustler

well there the reinvest point(£5,000 limit then i go and make a side deal to aid to the pots)
the retirement pot(£200-£220 then i buy a sovereign)
the jewellery/watches pot(currently aiming for £2,900 with £200 in as i just bought a breitling a couple months back my monaco)

Spoiler

Reply 11

grape:)

Saving for my wedding and rental deposit on my next home, all while being a student..... :angry:

Wedding
Retirement

Original post by Fickschlitten

Retirement. I aim to retire in my 30s.

Love the aspiration! How much do you think you'll need to achieve that and whats the plan to obtain it?

Reply 14

Rakas21

In order of priority..

1) I have about £2300 in personal debt. I could ignore it but since i want a mortgage fairly soon i'm going to save the money and then settle, arguing for the best discount i can.

2) Emergency fund - Since bills are about £400 per month i figure that i'll save £2k to tide me over a few months should the worst happen.

3) House - Parents Right To Buy means i may have an opportunity to get a very good discount and pick up a property for around half price. If i could get it mortgage free at ~£50k then that would be great.

4a) Stock investments
4b) Second House
4c) Pension

*Will probably open 3 separate accounts for 4.

Reply 15

Emma:-)

Entertainment Forum Helper

Im saving for a house, another car (just want something newer) and a classic mini (to take to shows etc).
Im also saving a bit for retirement.
So many things to save for, so little time.

Being only 16 I have little worry about compared to other people...
BUT I am saving to completely upgrade all tech I have...
In my wish list, there is a MacBook Pro 15 inch with Retina Display, an iPhone 7+ (when it comes out), a pair of Bose Headphones and finally just everyday money...

Reply 18

clucky_chick

I am saving up for a trip with my college to Germany and Poland. :smile:

(edited 8 years ago)

Reply 19

dipka

Original post by SerotoninAddict

I think I'm just a money hoarder, I have no real goal to my saving, I just hate spending money on things I don't need.
But I guess it'll go towards a house eventually.

I'm exactly the same! All I buy is food, usually £20-£30 a week, the rest is just sat in my bank still.
I hate all the stereotypes of students being poor..