What are you saving FOR?

[InMincePieRehabBackSoon]

Inspired by another thread!

For those who save regularly, what are you saving for?

For me, it's partly to pay off the mortgage (one day, a long, long way into the future!) and partly for my DS' first car and driving lessons in a couple of years.

We'd like all the school fees saved to see DC through private school, in case DH or I lose our jobs and can't pay them out of income. We're very nearly there. Once those are banked, we'll save for a new bathroom and some home improvements.

If we're fortunate enough to get DC through school on income alone, we'll have a sizeable pot to retire early and help them out with house deposits.

Looking at all the saving going on for maternity leaves and school fees and adult kids and grandkids, I realise what an excellent choice I made making sure I wasn’t ever going to have any of those to bother with I’m well on track to early retirement, a beach house in Hawaii and that racehorse!

Mainly a bigger house and to get the bricks repainted on the house we have now but we also keep a nest egg for the car and other general emergencies. I'm saving my own little nest egg to take some unpaid leave to extend my maternity leave.

Pension
New roof
Weekend trips fund

Well I said in a previous post that I wasnt saving for any reason.....however our boiler has died of death this weekend so now guess what, I'll dip into our savings pot for a new one!.

@MuchTooTired

One savings pot is purely for my kids. No idea what for exactly, but it’s earmarked for them when they’re adults and have adult problems, requiring a bit more cash than I have floating around normally. I’ve been saving this since they were born (they’re only 3).

The rest of my savings are a mix to cover breakdowns, replacement white goods, car insurance, next Christmas, holidays, birthdays and generally shit hitting the fan emergencies!

Im doing this too. My kids are really young and don't know about it either.

House deposit

Rainy days and emergencies.
House repairs - about £5k of work to be done over the next 12 months.
Mortgage overpayments. We do a regular overpayment now but if we have enough in savings we'll also throw lump sums at it.
Anything spare beyond that goes into pensions and an investment ISA.

1. for upcoming mat leave
2. for nursery fees for baby 1 so I can get a break with baby 2

Buffer
Kids
Pay off mortgage 10%
Pension

Only 2 savings goals for us - university and house deposit for DD

Saving for a flat while living with family, however I don’t earn enough to get a mortgage so it’s all a bit futile until I can get a higher paying job. I’ve just achieved a qualification which will increase my salary but not by enough, sadly!

House deposit and the fees & furniture to go with that.

Holidays and trips.

I also invest in a S&S ISA in hope of an early retirement.

Ahh thanks for reviving this thread. I’m pleased to say I’ve just sat down after a long day painting the house I was saving for back in January.
For anyone else saving for a deposit, you’ll get there and it’s so worth the sacrifice!

To supplement retirement and to help adult DS have a good life as although he is doing great it will be a lot harder for him to afford the sort of lifestyle we enjoyed when times were easier.