How much do you save a month?

All goes into my pension, 21% of gross salary. I stick an additional variable amount in as AVCs - depending on the month that's between £0 and £1,500.
 
I'd like to put loads into a pension but I always have a nagging doubt in my head that I might die unexpectedly and it'll all be a massive waste of money.

I have a good company pension so save about 1K a month and overpay my mortgage by £500. It should be more but I'm a single guy and like my creature comforts and mad nights out. :(

I plan to clear the mortgage in the next year or two then start piling more into savings and pension 50/50.
 
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/
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I'll sign up and start small for 6 months to get a feel.
 
I normally save about £1k a month, but it's just me paying the mortgage and bills etc on my own place.

Luckily I am reasonably financially sensible, so my mortgage is on the best LTV % deals, and my bills aren't too bad each month as it's a modern house.

I also don't tend to throw money away on things, don't drink much etc, occasional bottle of rum does me for a while.

This means I can usually treat myself to things I want without feel too guilty, but right now I am paying back some money I was loaned for the house deposit, so will not have much cash to spare for the next year or two.
 
3% pension contributions, about 3% overpaying the mortgage, and maybe another 4% or so that just goes into an ISA for holidays, house repairs, capital spending. The Mrs is getting a job again soon after a year off doing a masters and then I plan to start battering the mortgage and putting more in the ISA so we can have a bit more ready for doing some work on the house. Also need to start putting some more on one side for the kids for uni or house deposits or whatever.

I want to get the mortgage paid off by the time I'm 50, if not before, so that will be the focus soon. Pension will get ramped up in due course as well.
 
Raymond Lin said:
What do you mean "go direct" do you mean go to Vanguard?
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Yes.

Raymond Lin said:
Am I right thinking that I have to close my Barclays ISA if I open one with Vanguard? or I can have both because they are different kind of ISAs?
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You can have multiple ISAs, but you must not invest more than £20k this financial year in all of them combined. If you want to move the Barclays ISA, you should complete an ISA transfer. If you move the money from an ISA to a current account and then to a new ISA, it will take it out of this financial year.
 
Currently on £36k and saving around £1500 a month. I'm still very much in upheaval though at the minute, having bought a new car recently and bike/car insurance due over the last month or so plus lots of other things ie PC upgrade, new TV bought, which i need to take back and upgrade, and various other small things. Once it levels out i'm guessing it'll be around the same, if not a slight bit more :)
 
NooBish AbbZ said:
Currently on £36k and saving around £1500 a month. I'm still very much in upheaval though at the minute, having bought a new car recently and bike/car insurance due over the last month or so plus lots of other things ie PC upgrade, new TV bought, which i need to take back and upgrade, and various other small things. Once it levels out i'm guessing it'll be around the same, if not a slight bit more :)
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Really that much? Do you pay rent?
 
Between £500 to £1000 a month depending on non standard outgoings (for example this month we have had multiple Vet bills thus our savings will be on the lower end).

Mortgage payments will be going down by around £100 so that will going back in as overpayments.

Currently balancing savings between "emergency" fund (3-6 months of all bills covered) and house renovation.
 
We having a standing order to put aside £1k a month. This goes in to an account which we're using for wedding savings but I dare say when the wedding is over we'll keep the standing order and use it toward paying off the mortgage and infrequent big purchases like holidays.

I know if we didn't save we'd spend it on crap which would be especially depressing as I now know we can live comfortably without that money.

Edit: I also make a 20% contribution toward my pension and 5% share scheme in work. This combines with my employer contribution of ~12% for my retirement. That said, the retirement age will be 80 by the time I get there :o
 
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NooBish AbbZ said:
Tell me more? Do you use it?
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Have a search online, but in summary, it links to your bank account and rounds up, to the nearest pound, any purchases you make. For example, if a purchase of £4.20 is made using your bank account, MoneyBox puts 80p into the ISA you setup with them.
You can also make larger contributions, regularly or irregularly, like a normal ISA. Also, you can set it up as a cash ISA or S&S with varying risk levels.

I use it, and like it, because I am literally paying into a savings account without thinking about it - the roundups is money I do not notice or miss. It's not going to make you rich, but it's a clever way to save.
 
im on a low wage but mortgage free ,whet my current account gets to 1k i put in savings ,maybe 3 to 4k year .
when i was living up in yorkshire and on better but not good money all the spare money went to overpay my mortgage ,i hammered it and payed off in under 10years ,bought for cash here and living the dream.
suprised more are not overpaying
 
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