#1
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Saving money for a rainy day.
I was just wondering if any of you have any tips for saving money.
Do you put money in to another account so you can't spend it. Also do you set up a regularly monthly payment to another account at the start or end of the month. Do you set yourself a budget and only buy things within the budget. I was considering applying for a loan because I'm not overly keen on being in debt so I'd probably spend less to try and pay it off quickly and would have enough saved to buy a newer car. Any responses would be greatly appreciated. Newbs |
#2
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Re: Saving money for a rainy day.
You could put it into a fixed term account so you have no access, you can get them over 6 months or 12 months and just have the money transferred into it via a standing order.
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#3
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Re: Saving money for a rainy day.
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#6
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Re: Saving money for a rainy day.
^^ Coinstar charge dont they ? I shove mine in the tesco auto checkouts now. Let it all build up then have one big shop for free right when I am worrying about money.
I can most certainly help with saving money on meals, its amazing how many different meals can be made basically with the same ingredients as a base. Buy the meat when it is reduced and freeze it then make up batches of various stuff and freeze it. stuff will generally keep for 3 or more days in the fridge though. Spag bol,curry, shephards pie, chili. There are just my examples of course, and you need to get your hands on a dead horse of course. All use the came basic ingredients so you should never have any food getting chucked away because its going off. |
#8
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Re: Saving money for a rainy day.
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#9
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Re: Saving money for a rainy day.
^ I did it purely because I hate waste. Money, food anything. I dont plan a month ahead but when I get to the end of a batch I look at whats left and then just buy stuff to make that into another batch of something else. Reduced mince is so easy to find and so cheap. It freezes well and can be cooked from frozen, in fact honestly I prefer it from frozen it has more texture.
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#10
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Re: Saving money for a rainy day.
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If you have £1000-2000 initially you can get a fixed term account for around 1.5% interest. If not you could open a regular saver, although the regular saver does allow you withdrawal of money during the term, it does have a penalty attached, so that should deter you. Modt of the banks are offering regular savers with rates from 2-5% but the real interest would be half of that due to the way the money builds up each month. |
#11
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Re: Saving money for a rainy day.
Thanks...certainly food for thought. Could make a few material changes my end with the ideas being shared here.
Newbs - I put £10 away a week for myself on the thurs once bills are paid - i do internet banking and for me it controls my money usage better, certainly paying online I prefer. I have three separate accounts for different things - one for daily, one for birthdays, one for christmas and one for me. Makes me feel happier I'm budgeting better. |