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    So I'm now graduated and in full time employment. I'm really keen to save up and hopefully get onto the housing ladder as early as possible. However I'm not sure how much I should be looking to save per month from my income?

    I'm currently putting aside 5% into a savings account which is money I will not touch and will remain in there. And then I try to save at least 15-20% of the remaining games amount. So I'm essentially saving 20-25% per month. I was just wondering if this is a reasonable amount?

    And what others ways can I better save up quicker?
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    (Original post by Lord Samosa)
    So I'm now graduated and in full time employment. I'm really keen to save up and hopefully get onto the housing ladder as early as possible. However I'm not sure how much I should be looking to save per month from my income?

    I'm currently putting aside 5% into a savings account which is money I will not touch and will remain in there. And then I try to save at least 15-20% of the remaining games amount. So I'm essentially saving 20-25% per month. I was just wondering if this is a reasonable amount?

    And what others ways can I better save up quicker?
    Do you live with your parents or are you renting at the moment?
    If I m sensible and don't buy clothes or anything I can save 20% of my income a month and that's with us renting at the moment so 20% easily seems realistic but if you live at home it should be possible to save a lot more.
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    (Original post by Lord Samosa)
    So I'm now graduated and in full time employment. I'm really keen to save up and hopefully get onto the housing ladder as early as possible. However I'm not sure how much I should be looking to save per month from my income?

    I'm currently putting aside 5% into a savings account which is money I will not touch and will remain in there. And then I try to save at least 15-20% of the remaining games amount. So I'm essentially saving 20-25% per month. I was just wondering if this is a reasonable amount?

    And what others ways can I better save up quicker?
    That sounds like a pretty decent amount to be saving.
    In terms of saving more, try not to splash out on unnecessary things and try to find cheaper things where possible. It might be worth putting aside some of any money you get for xmas/birthdays.
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    I think a better way to do it is to look at your fixed costs per month e.g travel, gym membership, driving lessons etc and then work out how much you have left each month. Then it's up to you to decide what's the maximum amount of money you could put into savings and how much disposable income you'd like to leave yourself with for that month. This is better than just saving exactly 5% a month, because putting a percentage on it like that is going to make you feel like everything else you have is disposable and that you don't need to save anymore because you've already put 5% into savings. Also put it into savings as soon as you get paid, rather than doing it at the end of the month, that way you'll learn to live with X amount of disposable income per month and get used to it, rather than spending as you please all month and putting the leftovers into savings.
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    (Original post by Lord Samosa)
    So I'm essentially saving 20-25% per month. I was just wondering if this is a reasonable amount?
    It's a reasonable amount. Far higher than some people but also far lower than others. When I was saving for my first house I considered it a reverse fire sale, Ie: Absolutely everything went towards saving money. I cut out almost all non-essential expenditure and as a result was regularly saving 50-60% of net pay.

    There will always be ways to cut back if you wish to, however you need to balance it against quality of life. Find a level which you are happy with.
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    (Original post by Lord Samosa)
    So I'm now graduated and in full time employment. I'm really keen to save up and hopefully get onto the housing ladder as early as possible. However I'm not sure how much I should be looking to save per month from my income?

    I'm currently putting aside 5% into a savings account which is money I will not touch and will remain in there. And then I try to save at least 15-20% of the remaining games amount. So I'm essentially saving 20-25% per month. I was just wondering if this is a reasonable amount?

    And what others ways can I better save up quicker?
    the only thing i can say is some small trading on the side in say scrap gold from family members so you make a little more quicker (maybe 10%-20% return on investment maybe more if you can repair and sell the piece online (tons of facebook groups for the purpose))
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    Can't disagree with the comments above.

    Calculate your rent and bills and transport ect.. then allow yourself £100 to spend generally. Everything else you can save.
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    Budget.
 
 
 
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