How much do you save a month?

£600 a month, could save more but I over pay my mortgage and im looking to move from the UK in the next 18 to 24 months. So saving is crucial at the moment.
 
I put away £500 in a crap low interest savings account, then come payday, whatever money I have left over from the month before, that also goes in. That usually ranges from £0-£100.
 
Last edited:
try and put a minimum of £125 all into funds or shares. I don't trust myself not to dip into an easy access savings account and so far the returns have been great, even with my latest share purchase which isn't going well. Although long-term hopefully it'll perk up again. But its the only negative holding atm.
I just wish I started when I got my first proper job, rather than just the last 2 or 3 years.
 
Last edited:
Raymond Lin said:
Give me the short version….it' looks like in 4 years it doubled. What is the negative points? Aside from the risk of going down.

e.g. can I sell at any time?
Minimum buy?
Minimum amount can have?
Maximum amount I can buy and own?
Click to expand...


Short term i.e. <1 year, you're historically almost as likely to lose money as make it. Over the past 5 years it has almost doubled your money but this does not mean to say the next 5 years it would double your money again. However as far as I can see, historically, over a reasonable amount of time it is no worse then what you get at the bank, and as long as you don't buy high and sell low, you should do much better then a regular savings account.


To answer your questions:
Yes. It appears to take 4 days to buy so I expect it is the same to sell.
Think the minimum is £100 on opening
Maximum is £20,000 per year in a ISA. I guess you can continue investing if you desire, but will obviously be taxed more.

To answer the question you didn't ask, it is a global market tracker stock market fund. 25% is invested in UK companies, nearly 50% in the US, the remainder is the rest of the world. There is no active management so the costs are low (0.22% a year), they just rebalance the underlying stocks at set intervals to make sure they match the split they say they do.
 
I could in theory save c
Trifid said:
Short term i.e. <1 year, you're historically almost as likely to lose money as make it. Over the past 5 years it has almost doubled your money but this does not mean to say the next 5 years it would double your money again. However as far as I can see, historically, over a reasonable amount of time it is no worse then what you get at the bank, and as long as you don't buy high and sell low, you should do much better then a regular savings account.


To answer your questions:
Yes. It appears to take 4 days to buy so I expect it is the same to sell.
Think the minimum is £100 on opening
Maximum is £20,000 per year in a ISA. I guess you can continue investing if you desire, but will obviously be taxed more.

To answer the question you didn't ask, it is a global market tracker stock market fund. 25% is invested in UK companies, nearly 50% in the US, the remainder is the rest of the world. There is no active management so the costs are low (0.22% a year), they just rebalance the underlying stocks at set intervals to make sure they match the split they say they do.
Click to expand...

I see, I guess it is like the stock market, in theory you can lose it all of the stock market crash but as opposed to putting all your eggs in 1 basket, like 1 company, you are spreading it all over.

So my next question is, why this broker? I am sure there are other brokers? And how do you keep track of it so to speak, do you check the account daily or an app?
 
Raymond Lin said:
I could in theory save c


I see, I guess it is like the stock market, in theory you can lose it all of the stock market crash but as opposed to putting all your eggs in 1 basket, like 1 company, you are spreading it all over.

So my next question is, why this broker? I am sure there are other brokers? And how do you keep track of it so to speak, do you check the account daily or an app?
Click to expand...

Just go direct to the provider Raymond, and skip Hargreaves Lansdown's very high fees: https://www.vanguardinvestor.co.uk/what-we-offer/fees
 
Raymond Lin said:
I could in theory save c


I see, I guess it is like the stock market, in theory you can lose it all of the stock market crash but as opposed to putting all your eggs in 1 basket, like 1 company, you are spreading it all over.

So my next question is, why this broker? I am sure there are other brokers? And how do you keep track of it so to speak, do you check the account daily or an app?
Click to expand...
website or app, but no there is no pint checking daily or even weekly.
if you do regular savings you can invest as little as £25 per month into a fund.
I went with them as they're a large name, reasonable fees and have most stockmarkets and funds. Is there better ones possibly but at some point you just have to bite the bullet and stop debating pros and cons of each broker.

(i dont hold that vanguard fund)
 
Raymond Lin said:
I could in theory save c


I see, I guess it is like the stock market, in theory you can lose it all of the stock market crash but as opposed to putting all your eggs in 1 basket, like 1 company, you are spreading it all over.

So my next question is, why this broker? I am sure there are other brokers? And how do you keep track of it so to speak, do you check the account daily or an app?
Click to expand...

It is the stock market, but instead of buying individual shares in a company, you buy a spread of the global market as a share. The theory is, it takes a lot of time picking good stocks and fund managers are expensive and are highly unlikely to beat the market as a whole and make enough extra profit to cover their fees.

Vanguard are the largest fund of this type and have very low fees. I went direct, but just linked to HL as their graph is nice to look at.
 
Trifid said:
It is the stock market, but instead of buying individual shares in a company, you buy a spread of the global market as a share. The theory is, it takes a lot of time picking good stocks and fund managers are expensive and are highly unlikely to beat the market as a whole and make enough extra profit to cover their fees.

Vanguard are the largest fund of this type and have very low fees. I went direct, but just linked to HL as their graph is nice to look at.
Click to expand...

So how do I go direct and if I went with someone I guess Vanguard is good? And I guess all high street bank do this too?

I guess I'm asking is because my savings is in ISA and it's not earning any interest...
 
Raymond Lin said:
So how do I go direct and if I went with someone I guess Vanguard is good? And I guess all high street bank do this too?

I guess I'm asking is because my savings is in ISA and it's not earning any interest...
Click to expand...

Just signup and transfer your ISA (you can do this later if you want to test the water first). https://www.vanguardinvestor.co.uk/home

High street banks will have similar funds, Halifax is the only one that I know which offers the same Vanguard fund. But as far as I see it, you might as well go direct unless you want to invest in offer funds at the same time which Vanguard may not offer themselves.

I've only been going 1 month (and have had a 2% return on my money in that time) but I took about 4 months to commit. Check out https://www.reddit.com/r/UKPersonalFinance/
 
Trifid said:
Just signup and transfer your ISA (you can do this later if you want to test the water first). https://www.vanguardinvestor.co.uk/home

High street banks will have similar funds, Halifax is the only one that I know which offers the same Vanguard fund. But as far as I see it, you might as well go direct unless you want to invest in offer funds at the same time which Vanguard may not offer themselves.

I've only been going 1 month (and have had a 2% return on my money in that time) but I took about 4 months to commit. Check out https://www.reddit.com/r/UKPersonalFinance/
Click to expand...

Which Halifax one is it as I already have my banking with them. Is it their stocks and shares ISA or their share dealing account?
 
Ayahuasca said:
Which Halifax one is it as I already have my banking with them. Is it their stocks and shares ISA or their share dealing account?
Click to expand...

S&S ISA, code VVLSRU if you want 100% in stocks. You can search for the funds with a split of bonds. Check the costs though, it will probably be cheaper to go direct.
 
You must log in or register to reply here.
Back
Top Bottom