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2wheeler
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Lincolnshire
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15-08-2014, 08:06 AM
1

saving passť?

Strange how 'money saving' has suddenly dropped out of fashion - no posts on here for ages. Does that mean we're all rich again and can go back to the "Spend Spend Spend" years? Are our pockets stuffed with tenners? Can I switch the heating back on? Hoorah!
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Meg
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Worcestershire
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15-08-2014, 10:20 AM
2

Re: saving passť?

Hi Pete saving hasn't dropped out of fashion with me .
What little I have in the way of savings I worked very hard to get.

I went without many things to have my small savings in the first place so I spend it with care still saving when I can.
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Honey
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Lancashire
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15-08-2014, 11:38 AM
3

Re: saving passť?

I review my savings regularly and move money around to get the best rates until I'm almost dizzy!
2wheeler
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Lincolnshire
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16-08-2014, 11:17 AM
4

Re: saving passť?

I was thinking more of the money saving tips - as a country, we seem to have drifted back into the bad habit of spending borrowed money with no thought for the future, encouraged by rip-off loans and dodgy monthly payment plans - e.g. buying new cars etc. All this mounting debt can only lead to another crash - or am I just being pessimistic and everything is going to be just fine?
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AudreyII
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19-08-2014, 02:57 PM
5

Re: saving passť?

NOt out of fashion for me either. I have put away at LEAST 10% of my pay for 40 years. Amazing how it adds up.. I will continue until I retire next year.. then I'll start taking it out.. It's called Planning.
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19-08-2014, 09:57 PM
6

Re: saving passť?

Originally Posted by AudreyII ->
NOt out of fashion for me either. I have put away at LEAST 10% of my pay for 40 years. Amazing how it adds up.. I will continue until I retire next year.. then I'll start taking it out.. It's called Planning.
Or inheritance.
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19-08-2014, 10:04 PM
7

Re: saving passť?

Originally Posted by AudreyII ->
NOt out of fashion for me either. I have put away at LEAST 10% of my pay for 40 years. Amazing how it adds up.. I will continue until I retire next year.. then I'll start taking it out.. It's called Planning.
I set myself a goal and aimed to pay off my mortgage when I was 50 and on that day I did it!
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20-08-2014, 11:51 AM
8

Re: saving passť?

I don't want to save at all, what do I need? I am retired, I have super and a pension. The problem is that i can't spend enough either so I accumulate money.

Holidays aren't the solution either because when I get back all that I spent has reappeared in my account while I was away.

It is not that I am rich it is just that I need for nothing and there is only so much I can eat and buy.
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AudreyII
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20-08-2014, 01:56 PM
9

Re: saving passť?

Originally Posted by spitfire ->
Or inheritance.
For who?


The plan outlined for me was you need to have enough in savings to allow a 4-5% withdrawal every year and still keep your principle growing to allow for inflation. Usually you strive to position it at an 8% return. That way you will never outlive your money.. and of course your heirs will enjoy a nice tidy bit when you die.

So you figure out what you need to keep a lifestyle you enjoy. Add up your pensions... and in my case my Social Security.. and make up the difference with savings. Everyones savings number will differ depending on the variables.
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22-08-2014, 10:42 AM
10

Re: saving passť?

We have stopped saving now, just spend.

 
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