HumbleRug

What next big thing in your life are you saving up for?

Hi all,

Comments
Not a thing in particular but steady passive income.
So you’re saving up for FREEDOM.
They say you can’t put a price on freedom... but the maths is pretty simple:
It’s 25 to 33 times your annual spending.
How do you do this? Is it remotely possible without earning an enormous salary to get started?
Same here
Short term it's holidays and house decorating. Other than that, wife and I are not interested in "big" things, so our long term savings goal is space tourism in the 30 year time frame. Might seem a bit out there but rather dream of it and hope technology and advances catch up. And if not, well we have a lot of savings to play with!
Space tourism, now there's something I can get excited about!!!
Round the world trip with my girlfriend (may not be the smartest financial decision but fuck it), And secondly a house
No, it's is the smartest idea. I've never regretted a penny I've spent on travelling.
Do it while you've got no responsibilities, memories last forever!
I'd third not regretting spending any money on travelling. Spent my twenties broke but was worth it.
How much are you planning on saving up for the travelling? Thinking of doing something similar but not entirely sure how much I should be aiming to save
Updating the house. We bought a house that needs a lot of work, and are saving up to do it.
Same. I love our house, but quickly burned through the initial £10k repair money set aside on problems we didn't anticipate - and that's "make it safe to live in" before you even consider niceties like new windows etc. (Radon and flat roof extensions, what a combination!)
I've got some associated debt on 0% credit cards. I am now saving to pay those off later this year, which will be such a relief as money should be a lot less tight afterwards. We have decided we'll probably extend our mortgage to cover another £10k home repair savings fund and pay a couple of outstanding invoices, so need to speak to the advisor about doing that.
Our LTV ratio was quite low in the first place anyway, so we probably should have put less of a deposit down in the first place. Live and learn. It's still far cheaper than all the other houses we liked!
Same here. House hasn't been updated since early 90s. Priority is exchanging an Aga range (which essentially burns fivers) for a modern heating system. Currently we have the aga to heat the water, and an ancient boiler to heat the radiators - costs a fortune in kerosene. Need a new kitchen and bathroom as well, plus new paint all over the house once I've repaired walls.
Me too but I'm scared of getting burned by cowboy builders again.
A house.
I have a lot saved towards it but fucking hell the older I get the more I feel I need this house to be the house I stay in for the rest of my life so the more I have to save. I will be in my early 30s by the time we buy.
Am in early 30s, still saving for it. Then find a secure enough job/area with multiple career oppurtunities. Then look for a house.
That sounds about right
Don't sweat it, I'm in my 40s and looking at buying a place in the next three months. If I'd been smart I'd have been buying huge swathes of East London when I was in my 20s, but I was too busy getting drunk and dancing. Still worth it.
Early retirement!
There's no way, I want to be forced into working once I'm in my late 50's
A couple of years ago, I had a real desire to retire as early as possible. Then as I found a job I enjoy/don't mind getting up for.
I now believe a better balance for me would be to drop down to two or three days a week when I get to mid 50's and have the best of both worlds. A bit of income from work, maybe take some money out of my SIPP to bolster it up. Take some nice holidays with my wife.
My Mum worked two days a week and retired at 70 and really felt lost when she did. Having something to get out of bed for and a sense of purpose is more important to us than we realise.
That is the best time to work if you Donny need the money, 40k to pension where you can access it if needed. Tax saving is awesome
I'm in this boat to, but the saving really has to be massive if you want to live like you do now.
I'm 24 and want to retire before 60, so let's say 35 year from now. If I want to do that and have an income equivalent to today (30k) i need £1.8million saved because of inflation. I think I will manage it, but it seems very difficult.
right now, paying off debts due to moving house 3 times in 18 months, and having to do 4 emergency trips to deepest france (sick relative, costs 150/day when we go there etc...)
after that, new telly/soundbar/ps5 when its released.
What made you need to move house so often?
A house deposit and an engagement ring this year. I'll have both by June which I think is pretty good considering I was over £6k in the hole in 2018. It's been a long journey but it's great realising how close I am to achieving these life goals.
How did you get from £-18k to here in two years? That's spectacular, you should be very proud of your accomplishments.
Good luck with using the ring!
Congrats! Nice to see an uplifting reply
Currently in the process of selling one apartment and buying another. Never want to do this again, never been so stressed in my entire life.
Yeah, hate being in a chain. I'm planning on buying new place next year then sell our old one. Less stress that way and you are not hold to ransom by the buyer
Yeah, hate being in a chain. I'm planning on buying new place next year then sell our old one. Less stress that way and you are not hold to ransom by the buyer
Travel and then suicide at a nice beach.
Grim but focused
Not having you in this world would make it worse not better. Stalking you through your posting history, you are obviously someone that cares about people, with some kind and helpful comments.
I am not opposed to suicide but doing so due to depression means you are not really making that choice.
Please click a link or pick up the phone before killing yourself.
If you yourself are feeling like ending your life, please call 999 or go to A&E and ask for the contact of the nearest crisis resolution team. These are teams of mental health care professionals who work with people in severe distress.
Other sources of help include:
Samaritans offer a 24-hours a day, 7 days a week support service. Call them FREE on 116 123. You can also email 
Papyrus is a dedicated service for people up to the age of 35 who are worried about how they are feeling or anyone concerned about a young person. You can call the HOPElineUK number on 0800 068 4141, text 07786 209697 or email 
NHS Choices: 24-hour national helpline providing health advice and information. Call them free on 111. 
C.A.L.M.: National helpline for men to talk about any troubles they are feeling. Call 0800 58 58 58.
An individual with a sense of purpose, nice.
https://www.samaritans.org/how-we-can-help/contact-samaritan/
Please don't do it
Why not just travel on a great travel/life insurance and a bunch of Credit Card debt?
Also; you shouldn't do it.
Deposit for a house. London prices are a bitch.
Same. Hope I can buy in the next couple years. I need to stop looking at
Same. All I want is a nice 2 bed flat, but noooooo that’s £750k
My masters degree. 6k for fees plus all the associated costs that come with living in another city, attending talks and workshops, transport, food, etc.
Currently hoping to do the masters in 2021, so I have time to keep putting away for it, but expecting it to be a tough year!
Ah yes, masters degrees are expensive especially if you're relocating to another City... or are studying in London. I miss student finance, man
A house and all its contents.
Also apparently a limited edition Animal Crossing Switch - because I’m a terrible person with poor impulse control.
A Tesla model 3. In fact I’ve actually hit my savings goal for it and just can’t seem to hit the button. Been waiting over a year to build the money up and sell my old car which happened a week ago. Prior to selling my old car I was on the site every day envisioning the moment I would go through the purchase process. Now I’ve got it I’ve just kind of stopped dead. Checking lots of little things and still trying to make my mind up between SR+ and LR £8k difference and I just can’t seem to get my shit together to go ahead. Wtf is wrong with me?
All the vehicle manufacturers have to hit C02 emissions targets this year and they're all likely to miss them.
I'm watching to see what happens to the EV market when they realise they've got to hurry up and put some EVs into their sales.
Today's announcement of 2035 may help matters.
I tend to focus on multiple targets at once rather than just one thing. Right now I'm saving:
And the big one:
I'm almost at the halfway mark for all of them, so it's going decent!
Paying off last of debts, having first child and upgrading our flat to a house. Next 5 years are going to be tight lol.
My next big thing is a house, currently one month into my 3/5 year saving plan.
Otherwise it is waiting for my bonus and spending it all on removing my last bit of debt.
I cant wait to start not paying interest every month.
Paying off the mortgage, hopefully late this year or early next year.
Buying more shrimp for my aquarium
I like this - What are shrimp like as pets?
I read this comment in the voice of the dude with the shrimp boat in Forrest Gump.
This is probably my favourite answer in this thread. Fun and whimsical. I was looking at shrimp in the aquarium at a local garden centre when I visited my parents this weekend. They're fascinating little buggers.
Just getting my kitchen installed this month, so next on the list is a new bathroom. Rather boring use of money but a necessity in what I hope will be a forever home
A new laptop!
Currently running a HP G series Chromebook. ChromeOS is fab and it's fine for browsing but the processor just collapses if I try and start to write more than 1000 words in a document. It also struggles to do anything Stadia related due to being severely underpowered.
Unsure if I'm going to go for a Pixelbook (Go or OG) or shoot for some laptop I can throw Ubuntu on.
Oh god.
Word processing is something we've had sorted since at least the early 80s. How can it be that intensive on a processor millions of times faster than early corporate workstations?
If you're somewhat tech savvy and money conscious, I'd recommend buying a used Thinkpad. I bought my X230 (model from 2012) second-hand from Gumtree four years ago, and I paid £185 for it. That thing could easily rock the latest Ubuntu.
Just for kicks, I bought a £50 Thinkpad X61s (from 2007) a few years ago too. The thing feels indestructible and even that 13 year old laptop can run Facebook and Youtube somewhat easily.
Nowadays you can get my X230 model for £120ish, and if you want to you can splash out £300-400 for a very decent laptop by today's standards. The reason they are so cheap is that companies buy new models in bulk and then get rid of the old ones.
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I have a Pixelbook Go (i7) if you had any questions about it!
If I was you and had money to spare I would get an iPad on sale ($320 usually) and a Logitech keyboard ($20-30?)
That combo should last you 5 years at the very least
What programme? I write novels for fun in Google Docs and it manages it fine.
Short Term: Wedding. Hopefully should have that all saved for by April as it’s in July. Expected to cost ~15k.
Long Term: House deposit. Currently on 2.5%. Hopefully be at 10% 2/3 years.
I’m fortunate enough to be able to save around 2k a month, so all this depends on not losing my job in a notorious industry for lay offs 🙂
2k a month??? What industry are you in? mind sharing for a future graduate?
Same! Think our wedding will come in around the £10-15k mark. Even if you do it small it still seems to add up!
Expecting our first child in May, so preparing for that after buying a house late last year - Lots of work and renovation going on and setting everything up for our new arrival. Not so much saving, but preparing to spend a lot after saving a lot for both baby and house.
Honestly babies don’t need that much. Best to be prepared for things like nursery , flexible jobs / working, one partner taking time off and any type of travel which becomes crazy expensive, especially after 2 years old when they pay for a seat on a plane.
Oh and congrats. May is an excellent birth month. Source / am may.
I had to use a significant portion of my emergency fund last year so I’m topping that up but I’m also planning to visit Korea with my girlfriend so that’s likely to be my biggest expense this year. I’ve also got Glastonbury but it’ll be my fifth and I know all the tips and tricks to do that without breaking the bank.
Visited Korea for 3 weeks last summer, was incredible. Did Seoul, Jeju, Busan, and Jeonju. All were great, maybe Jeju a bit out of the way and you can see better nature in Seoreksan. Highly recommend the DMZ for those with a historical interest, Jeonju for art/culture. Busan is an awesome place and less overwhelming than Seoul (great seafood too). Also, do yourself a favour and go to a baseball game, they are crazy about it. Last but not least, eat some of the most amazing fried chicken ever.
Any that you'd care to share? It's my first time this year.
Me and my girlfriend also been thinking about Korea/Japan later on in the year. What have you got planned if you don’t mind me asking?
any tips you could share for Glasto? my first time going
Just found this in my notes for those interested:
Seoul (7 nights)✅ DMZ✅ BaseballSM Tower✅ Bukchon (C)✅ Gwangjang market✅ Wall and gatesNamsan Tower - sunset✅ Plaza to GyeongbokgungSuwonWar memorial museum✅ LEEUM - Samsung art musuem✅ Contemporary history museum
Jeju (4 nights)✅ Mount HallasanLovelandCheonjeyeon Waterfall✅ Seongsan IlchulbongJeongbang Falls✅ Manjanggul CaveJusangjeolli Cliff✅ Udo island
Busan (3 nights)✅ Haeundae beach✅ Taejongdae park and clam tents✅ Jagalchi Market✅ Yonggungsa temple✅ Busan tower✅ Traditional Korean performancesGamcheon cultural village✅ Shinsegae food hall✅ Night scene = Kyungsung Univ. · Pukyong Nat'l Univ.
Jeonju (2 nights)✅ Jaman Mural Village✅ Hanok village✅ Nambu food market✅ Near Daga park -gil (int. restaurant/bars)✅ Confuscious school
Not really sure. I could do with buying a house where I live but I'm hesitant to buy in London at present, so mainly just accumulating funds.
Maybe a TVR.
My dad used to have a Cerbera. One of the coolest care ever for me.
Big money pit though
Ah... A man of culture. TVRs certainly have their own uniqueness in terms of looks
Well my washing machine broke today and I have ZERO room in my budget. So that. See you in 2 years I guess!
Working towards being debt free in two years! Then I have no idea. Maybe something ridiculous like a Starbucks sandwich
I’m desperate to not have to house share, but paralysed by the need to save for a deposit. This is not how I’d envisaged life.
Decorating. The wife likes House of Hackney wallpaper...
And I'd like to go to New York again, in style.
They really do have lovely wallpaper
As an interior designer, you should also check out anything Pierre Frey, new spring collection by Osborne and Little is pretty interesting or something a little more traditional William Morris
A new shed. Surprisingly expensive from the perspective of someone who's been renting up until recently...
A lifeline.
Oh God it felt so good getting it off of my chest :)
Thanks for asking :D
Overpaying my mortgage by the 10% each year, mainly because I find it really satisfying.
I have unlimited overpayments and I find it so addicting to pay more off every month! I've had my house 3 years on a 25 year mortgage but I only have another 3 years to go if I keep up my overpayments :D
I need the exterior of the house painted (will need scaffolding), and then the garden completely redone (fences rotted out and fell down).
I put away 1% house value a year to do things like that but even then it's not enough. So no 'proper' holiday this year. Luckily I'm getting to go to New York with work and hope to stick around 2 extra days to be touristy so that will count as my trip for 2020.
Girlfriend wants to move in and get a dog later in the year too.
Will the girlfriend moving in make it easier to save for the works you want to do?
Early retirement. So like the other user just a steady passive income really.
Wedding right now, trying to decide the priorities for what comes after. It's going to be a split between redecorating/doing-up the house and going travelling.
Short term a wedding next year in May, shouldn’t be too hard as we aren’t going over the top and have fairly limited numbers
Longer term kids and moving home. Unsure on the order, but I’d like to upgrade our home, it could do for the next 10 years in all honesty but I would like to be in a forever home sooner than later.
Paying of my mortgage
An extended holiday / road trip, we're touring several southern states and putting some American muscle to over 2,300 miles of tarmac in the USA later this year.
Holidays were amongst the many things sacrificed to the altar of house deposits over the last few years so we're making up for it now while we have disposable income before we look at the next steps in our relationship.
Kitchen!
Initial smashing things down work is supposed to start a week today!
I’m saving up for a yacht
Got our wedding in May, pretty much just keeping the ship steady until then, and saving as much as possible so we can do excursions on the honeymoon! Saving £2-2.5k a month so I'm hoping we can have an amazing time.
Insane how much weddings cost, we're getting married on a weekday, and it still looks like it'll be nearing £20k (wedding + honeymoon).
After that, just moving up the property ladder I guess, and preparing for a family.
Moving out. I've never done it before, excluding uni, but that easy - pay a lump sum every term. I've got a rough idea how much it'll cost, so I'm just trying to save as much as I can in the next few months to make sure I'm financially stable
A Volvo 245
Most people seem to be saving for normal / useful things.
I’m saving for an NSX!
As weird as it may sound, life extension technology.
Rolex sky-dweller.
Boom! My type of comment
I’m saving for
A high end Pc and drawing tablet so I can practise animating easier outside of college, currently my laptop barely runs the software we use so it'll be a nice beneficial upgrade! Also a van to travel round Europe with when the time comes!
A qualification that will allow me to earn 2-3 times more than I do now.
urgh wedding and our first house! ...then its new bike time for me as a reward whoo!
Divorce/seperation. Looking after myself for a bit (as I've been completely ignoring this for the last year), And then a house deposit of my own.
Saving up to buy a house in 2040 in cash.
Major renovations and a loft conversion.
Buying a house with girlfriend.
Converting parents 4 bed home to an 8 bed HMO.
Derelict pub renovation is midway and have gone over budget.
All happening at the same time 😱😱😱
Working towards paying off my student loan! I’ve been extremely frugal to get this done! 4.5k left 🙏🏼
Is there a specific reason you are actively working towards this? My general feeling towards my student loan is to act like it doesn't exist. The money leaves my wages before I even see it, so I've never missed it, and it just slowly chips away at the debt...
Saving for moving out of my parents house for the first time. Looking to get a place with my girlfriend sometime at the end of this year or beginning of 2021.
Furniture and renovations. I have the house but there's a lot more sweat equity to go in first.
Just in case something happens at the house at the moment maintenance wist.
But wedding probably in the future and saving for prospect of children. Maybe a bigger house
One main goal is a house. Im not ready to buy one just yet but do have the finances to do so when I am no longer a student. Im saving as much as I can to put me in a position to buy the kind of property I really want.
The other goal is putting away almost all of my student loan so that I can have 2 months of travelling post uni before starting a grad job and be able to travel where I want (eg Asia/America etc rather than just Europe)
A house. FTBs here, saving like mad. Or, at least, saving as madly as is possible whilst being cripped by the cost of child care... 🙄
Growing up fund.
A second property. I want a small rental flat. Should be able to do it in 1.5 years at the rate I'm saving.
Furniture
An extension. Want to double the size of our bike room so we can use it as a workshop too, & most importantly fit more bikes in there. No idea how much it'll cost.
Battling my American student loans
Retirement. Only 25 years now :)
Spending at least 6 months in South America to fly out in september. Already have 3.5k saved and plan on saving 1k every month until then
New car within the next few weeks, but that's a necessity purchase in my eyes, I have that saved.
What i'm actually saving/holding my money for is either a house or in order to allow me to take a medium term(2-3 years)significant drop in pay in order to change my career
Probably new windows.
A house. Buy to let. I'm still learning a lot about if is worth it or not. It feels like a lot in stamp duty and taxes. Living in Nottingham.
My tax bill
I'm a student so my 'income' is a bit weird.. But my car is 14 and it'll die eventually, so I'm saving for when that happens, so that I have enough money for rental deposits when I need them, and so I have a bit spare in case my final year at uni is more expensive. Basically want to set myself up to be graduating in a positive position rather than knee deep in overdraft :)
We have 2 Peugeot 107s which are fantastic nippy cheap little things. Now we have a baby they are proving somewhat impractical in terms of capacity, and also my wife can only drive the auto one. So ideally we want to get ourselves a family size automatic car. I'm just going to have a hard time saying goodbye to my Peugeot, I'm really rather attached!
I want to buy a forever home and keep my old flat for some passive. I need about 100k liquid (deposit, fees, builders etc..) so a way to go still.
My first house while beginning to make my money work for me :)
Still growing the emergency fund, its sat at around 15k which may seem a lot but me and my partner are self employed and I have a complex physical disability which sees me having surgeries every year so if something happens and I get really poorly we can survive for a year or so. At almost 30 I'm one of the oldest women alive with my condition so it's there for funeral costs and for my husband to have a nice holiday when I'm gone.
Working Holiday in Australia. Pretty excited!
Paragliding lessons, and assuming that I actually like it and aren't a danger to myself and others, my own rig.
It looks bloody brilliant, and there are several sites fairly near where I live.
A house, and oh boy I've got a lot of saving to do..
I've spent most my life dossing, spending and generally being immature about money.
2019 I started to save money and have 6K saved up.
Looking to get a mortgage in 2021 so this year is all about saving more, and saving correctly.
26 years old fyi.
Probably be jobless by summer so saving for a buffer while I find something new.
Beyond that, want to move out of my parents once I've got more stable employment so making sure I have deposit, furniture money etc ready for that. Ideally be buying but that's incredibly unlikely so will have to rent for a few years first.
My wedding in September.
I've got a £6k credit limit on my 12% NatWest card, ruling out a loan because I can't guarantee the timing or magnitude of the expenses to a satisfactory level. Currently freeing up credit limit rather than saving to help this to happen.
Bought a house around 6 months ago and now saving towards a few weeks in Japan in May
Flights all booked so it’s just spending money and airBNB costs left
A jaguar f type
My Coast FIRE target
A new graphics card for my gaming PC.
I bought an AMD R9 290 five years ago and it's showing it's age now. I really want to make use of my 1440p 27" monitor too as I have to game at 1080p right now.
A house! Would really like to get a deposit together but live in one of the most expensive cities to buy outside of London. Daunting how much I’ll need to save but I vision getting there 😅
My puppy needs to be spayed and We also need a new oven.
Currently saving for our wedding in October, after that it will just be putting money away for whatever life throws at us next.
My van's got its MOT in a week mind, so that might take a chunk out of the savings!
I might build a mini ramp in my back garden so I need some money for wood.
I've just been made redundant so I guess it passed me by! Luckily my savings mean it's not been a huge hit.
Wedding and trip to Japan.
At the end of the process of buying a house right now so
We have just exchanged contracts on a house, so currently saving towards the life-changing decision of flooring, legal fees, lounge furniture and a dining table.
Other than that, I'm looking to swap in my Suzuki Alto to something that reaches 60mph in less than the current 48 seconds.
Rest of our house deposit and funds to move in with.
I’m saving up for a 3-month sabbatical in which I’ll travel the world, and buy a house and just upgrade my life in general. Giving myself 3 years to save for the travelling.
Wife and I (F and M w/30yo) are saving for our first house. We already have £100k but we are a bit unsure of the best way forward. Our first alternative is 30% down payment and our second alternative is to do a 5% down payment and use the rest of the money for a buy to let property.
Commercial pilot training
IDK, a house or a Boat or a van, whatever I work out I want to live and then retire into.
Paying off my other half / creating an emergency fund. After that, probably a gaming PC.
Buying a house hopefully this week, then moving business premises in the next 3 weeks,with a view to rent for 3 years then buy them.
And an Omega Speedmaster watch..
A 3/4 sleeve from a great (but expensive) tattooist.
An Audi RS Q3 2015 model. So about 20k. Half way there.
I’m saving up for a house deposit, legal fees and decorating and furnishing fees. Ooo, I’m growing up!
First baby due later this year and need to find somewhere bigger to live in the meantime.
New house, hoping to sell old and buy new in a year's time.
Doing the final staircase on my shared ownership house from 80 to 100%
Will be really nice to finally get that out the way!
1 whole bitcoin. Getting emotional considering it.
Laser eye surgery / a house.
I'm moving to New Zealand in six months from the UK. Turns out that shits expensive.
A new roof. Ours is 70 years old and has started to go to pot a bit. Chimneys need repointing too. Love the house though.
Driving lessons/deposit on a flat.
Fallback money so I can become self-employed!
Getting out of my graduate overdraft before the interest hits... definitely regret those 2nd year VKs & debt fuelled outings. Lesson learned!
CYBERTRUCK
Im late to this but, a car! I’ve just finished my university degree and start my post-grad job next month on a nice salary for a 21 year old. So I’m looking to get a deposit together for a nice car 😁
Mine seems to be a little more off the rails than others on here. I'm saving for the new xbox. Oh and the better half is nagging making us save for a pram for our baby that's on the way but fuck it I'm getting the new xbox aswell!
Redo bathroom!
20-year-old uni student, saving up for a deposit for when I leave uni in 3 1/2 years time!
To sort out my bloody front garden - it's half gravelled and the paving half isn't done and it's been like that for 6 months and is doing my head in.
Currently saving for a wedding. I know everyone says they’re expensive but I really wasn’t expecting everything to be SO expensive.
Weddings don’t have to be expensive! It’s only if you want the expensive type that they become expensive...
If you don't want to spend thousands on a cake...
https://www.krispykreme.co.uk/special-occasions/celebrations-weddings
😁
We knocked a lot off the price of our wedding by planning thoroughly. Even little things made a big difference;
All in we spent £1,200ish which we were pretty pleased with for a group of 25ish people.
Next house seems sensible but other than that an emergency fund for the range rover given its numerous issues :p
Retirement with enough for some travel.
Clearing debts accrued in my wasteful twenties finally. Should be done by this August (whoop!!!).
Building a few months of reserve cash.
So not a tangible “thing” but something that will allow me to get tangible things in future