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Original poster

Chat for people about tiny savings and investments

54 replies

Phase2 · 09/09/2024 18:01

So I don't find it very relatable on here; I can't afford to dump loads in my pension or max out an ISA. I'm sure I'm not alone and thought it would be nice to chat to others trying to do what they can.

OP posts:
Original poster
Phase2 · 13/10/2024 08:58

Pumpkittenspice · 23/09/2024 12:30

Just managed to hit my £1,000 goal in my Emergency Fund, so pleased and relieved!

Now to decide whether to continue saving in my EF, or to start saving towards Home Reno costs… Or both?

Edited

Well done! I had to take £350 out to replace a broken hob so am back down below £500.
Maybe start with home Reno?

OP posts:
Pumpkittenspice · 13/10/2024 09:14

Phase2 · 13/10/2024 08:58

Well done! I had to take £350 out to replace a broken hob so am back down below £500.
Maybe start with home Reno?

Show quote history

Thank you! I’m sorry to hear about the broken hob, but glad you were able to cover the cost!

Yes, I’m saving in my the Home Reno Fund now, I’ve got £137 saved in there at the moment. I’m aiming for around £2,000, so I can get remedial wall ties inserted in our (Victorian terraced) house, to prevent subsidence.

Original poster
Phase2 · 13/10/2024 09:18

That's brilliant. Well done, you will definitely get there; I think what other people see as small goals are actually challenging. I'm glad I put my tiny salary increase (temp) locked away as I feel like I can at least get that to £1000 over the months it's happening.

OP posts:
Sunshineandrainbow · 14/10/2024 07:37

Saracen · 19/09/2024 22:45

If you're between 18 and 40, Martin Lewis explains why you should open a LISA immediately, even if you only put £1 into it.

TL:DR if someday you suddenly find yourself in the position to buy a house, you can use a clever trick to immediately receive £1000. Basically you sling £4000 into the LISA, the government tops it up by 25%, and you remove the resulting £5000 to use toward your house purchase. It only works if the LISA has been open for a year, but you can have a LISA open with just a pound in it. So open it now and start the clock ticking on that, just in case.

about 28 minutes in:
https://podcasts.apple.com/gb/podcast/the-martin-lewis-podcast/id520802069
https://open.SPOTIFY.com/show/6tsU1ycENJzlaViEw0aAQq
https://www.BBC.co.uk/sounds/series/p02pc9xt

This sounds great, I always thought they were limited on how much you could deposit into them per month.

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