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AIBU?

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To think I can save this per month?

28 replies

Ilovemycatalot · 23/04/2023 20:27

After having no savings for as long as I can remember I am trying to save around 300pm. For context I am a single parent with dd 15. My average income pm is £2000. Out of this I pay
600 rent
75 water
60 council tax
45 broadband
20 mobile phones
of course still have food and other daily expenses to consider but do you think this is possible. Also forgot small credit card bill to pay monthly. This is not a goady thread in any way just genuinely curious if others think it would be a struggle on this kind of income?

OP posts:
fruitbrewhaha · 23/04/2023 20:47

Are you paying interest on your credit card? If so you should pay that off sooner

Emigratingimmigrant · 23/04/2023 20:48

Nah figured it out. I passed the year on monthly one so it dropped so I moved it.
However, since people were mentioning instant access, instant access bog standard saver with lloyds is 0.65.

BarbaraofSeville · 23/04/2023 20:49

Unless your credit card is already on a 0% deal, first transfer it to one or pay it off as its silly to pay 20%+ credit card interest while earning about 1/5 of that in a savings account.

Look on Moneysavingexpert budgeting section and get the weekly email. Lots of ideas to bring in a bit more money and also save a few quid so increase the amount you can save or spend.

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