dickycox

So with the uk in a mess how much you got put away,if any they say the avarage man has got 300 quid put away.

paul16v

Ive got enough put away, thats as much as im going to say on a public forum

It's Czech Mate

£52k at the mo

Just about to sink it into another house tho

Ebonycossie4x4

iTrader: (4)

52K !!!!


Always wondered why people would tell people they dont know how much money they have put away...

Each to there own.

PT

exactly

xr_craig

iTrader: (2)

Fuck all

RAT8OY

About £50k

Although I have saved this money over a ten year period and invested heavily in the RS Turbo markets. my financial advisor (THE MRS) tells me i will be lucky to see any return!

Oh well, always the plastic fantastic!!

DanW@FastFord

iTrader: (1)

Less than 52K, more than £300

danneth

about £467 wich will be used while im finding a new job ! LOL

danneth

oh no wait this is the internet can i just add a k on the end 467k ye thats about right now

Madbradz

I got an overdraft I dont use does that count???

Ebonycossie4x4

iTrader: (4)

pmsl

I think savings are relative to what you owe.

In other words if you have 50k but a 150k morgage then really you are 100k in debt.

Probably a silly way of looking at it but thats me lol

gus

iTrader: (1)

enough for a small house, plan is to save enough for a big one


dont want a mortgage

paul16v

I dont see my mortgage as debt tho, see it as more of an investment.

Ebonycossie4x4

iTrader: (4)

in investment that can go sour... ie the 80s.

Dont get me wrong 90% of people have a mortgage but you only have 50k in savings if you have no mortgage.

For instance i dont have a mortgage but own a 250k house. i dont have 50 k...


Who is better off?

Lambchop

iTrader: (1)

this is the same as the "how much do you earn" post you did and never answered your own Q.

Are you just nosey?

lead by example

Ebonycossie4x4

iTrader: (4)

lol at lambchop. Maybe he just nosey. Where im just bored....

Thrush

iTrader: (1)

A lot more than £300 thats for sure

But I agree with Ebonycossie4x4 - in that example, then sure you are better off not having £50k, but owing a £250k house outright....

But on the other hand, if you have a mortgage (like many/most) that is easily manageable (monthly payments offset against monthly income) then there's not a whole lot of "real time" difference - cept the other person has £50k stashed away to play with - should they fancy a nice car, a long holiday, etc etc.....

Since most of us will be paying off a mortgage for a good percentage of our life, I don't really see a mortgage as a debt, as such. Credit card balance = debt. Overdraft = debt. Personal loan = debt. A mortgage is pretty much something all of us have to do, so it's not really a debt as such, although yes it is in the technical definition...

Lol...

Thrush

iTrader: (1)

What amp you got and how much you want for it? Whilst your at it, what guitars? I'm a lefty too

Ebonycossie4x4

iTrader: (4)

I agree with Thrush in a way. Dont think i have not considered getting a small mortgage against my house. especially as my car is costing an absoloubt bomb.

But something stops me.

Mainly my wife lol

Think shes worried if i spend it she wont be able to do a heather mills on me.

Also if i had 50k stashed i would probably spend it.

i have a relatively small float that i try and keep topped up with buying and selling cars and stuff.

But if i got donw to only having 300 quid considering i have 2 babys i would be pretty worried....

Infact i would not let myself get in that situation.

It's Czech Mate

why ask if you're going to criticise the answer?

i've been saving for the right property and it'sjust come along..i posted about it the other day, its not a big secret and it hardly makes me rich or boastful.........

paul16v

Thats the thing with me ive only got a small mortgage that i could quite easily pay off if i wanted, i just dont see the point when my monthly payment is next too fuck all and ive got no debt and enough money put away to do the things i want and enjoy myself, its just my take on things.

matts1

I know plenty of people that live on the breadline, fook that, I think it is essential to have a little nest egg

It's Czech Mate

Mate if you still have a mortgage AND you're saving as well AND you have enough to pay your mortgage off, you're much better off paying the mortgage off and getting rid of your debt. Make your money work for you

rapidcossie

If i say I have 100k saved will i be anyones hero?

Can someone tell me the point of savings at all?

IMO they are a total waste of time and if you have anything over 5k it should be working for you in some kind of shares or policy!

Ebonycossie4x4

iTrader: (4)

It is essential mate. One thing i have realised already is that money comes to money.

if you have money and at least a little business sense then you will get by.

It's Czech Mate

My savings were earning me a tax free 7% whilst waiting for the house to turn up

Ebonycossie4x4

iTrader: (4)

Well said euan. I wouldnt agree with shares but i have as much of my money as poss sitting in cars...

Not the cosworth..

As i said before i use the savings i have to make me more money. (buying and selling cars and other bits and pieces) without the worry of a mortgage

i would do the same as mondeo man and pay off the mortgage then use the money i saved to make more...

Mr Orange

Enough, my isa is about to kick up another interest rate with its amount. bank balance is healthy and car deposit is growing happily.

fuck being skint or living in ur overdraft

col cos1

iTrader: (5)

ive got nowt

i like a drink

Ebonycossie4x4

iTrader: (4)

car deposit?

Turbo Pez

£31.15p

Alps Pacino

I agree to a certain extent as i had a lot of money in cars up until recently but then realised that trying to fix and run 3 cars is hampering my attempts to save money, i have a good lump in the bank and am aiming to have 50k in the bank by the end of the year and still have my integra and a few other toys to keep me entertained.

First and formost is to enjoy your money, but then my aim is to try and buy a small house out right or get a medium size house with a little morgage so i can live comfortably

Coldo

Always make sure I have a months wages in my current account, so as not to live "on the bread line" as it were.

Sold my car tonight and have another few g in a savings account, 5k all in, give or take.

No major assets however, at home living with parents, and as i said, sold my car tonight. Got a decent PC and the usual toys most 21year olds have so im happy ive managed to get a bit in the bank.

Alot of my mates live month to month, by the 2nd week they have £50 to their name and skimp the rest of the month, can't go out as they dont have a penny to spend, must be torture...

Chip

iTrader: (3)

I dont see the point in having anything beyond "operating capital" in your bank account, on the unusual occasions I havent blown it on something car related, I either buy shares or invest in property.

Ebonycossie4x4

iTrader: (4)

Im 24 and im the only one of my mates that has what i have.

One mate has about 10 grand and he buys and sells cars like me. (but lives with his parents)

Another owns half a house and has 25ks worth of range rover (hes 22)

Another has a 06 plate st on finance and has not got two pennies to rub together

And all my other mates are absoloubtly skint.

But they all take the piss out of me for settling down so young

lol. The Irony of it all

Ebonycossie4x4

iTrader: (4)

In my opinion Property is hitting the roof (in my area anyway) and shares are just about the last thing i would want to invest in at the moment.

None of my money is in the bank...

Dunno about you lot but im a cash man.

rabmc

Had 8k until last week then we put over 10k down on a house, thats me on the ladder lol