How much should I save?

[OngoingConfidence]

I start a new job soon. I still live at home with my mom and currently pay £300 board. Once I start my new job (full-time) I will be paying £500. My take home pay will be about £1700, my car outgoings will be roughly £300-400, phone bill is £12 I pay £6 for apple music and I think £12 will be deducted for student loan. I want to save money for a deposit to rent a place or to buy. Where I live, a 1 bed flat starts from about £550 a month and 2-3 bed semi-detached start from 100k

If you don't have dependants, I'd go with half of whatever disposable is left!

Thank you, I thought this too but just a bit conscious about keeping money aside in case something happens to my car

I had a thread recently where I took a fair bit of criticism so take this with a pinch of salt....for me, set yourself up well for life ahead. Save every penny you can - your future self (5 years down the line) will thank you for it.

Save big and save hard.
Put £600 into a savings account on pay day.

You can always take some out if you need some for a sudden unexpected bill for the car, or you need to replace your Winter shoes or something, but you will be consciously deciding to "use some of your savings" for that, and therefore be less likely to be frittering away £5 or £10 here and there without realising it.

You almost certainly won't be able to leave the full £600 in there every month, but many months you will, and those that you don't, you are aware of where it is going.

Agreed! If you end up on the same situation for 5 years that's £36k saved up. If you only put £300 in you'd look back in 5 years and wonder where £18k has disappeared to!

Have two types of savings: long-term (which you avoid touching unless in an emergency) and medium-term (which you can build up for car maintenance etc, and can dip into occasionally without feeling guilty about spending your savings).

Set up standing orders from your current account a few days after pay day so that you get used to having a smaller amount in your current account to live off each month.

Do you have a workplace pension?

As for deciding what proportions to spend/save, think about what your outgoings would be if you were living in your own place (rent, bills, food) and compare with what you are paying your mum. Set aside the additional amount in your long-term savings - this will also give you an idea of what your disposable income would be if you were living in your own place and what sort of lifestyle you'll be able to afford.

After a few months you'll have an idea of how much you need for everyday spending each month. If you have an excess in your current account, increase the monthly standing order into your savings.