It’s already June! Is it me or do the months seem to really fly by at the moment? Maybe it’s because of the nice weather and every day being exactly the same! Lockdown is starting to drain now and I cannot wait to see my friends who don’t live locally, we are making a post-lockdown bucket list! Anyway, I thought it was time for my beginning of June round up of savings and looking forward, how much I want to save in June before my July round up!!
As I am living at home with my parents at the moment, I am not spending too much money an so I can fortunately save most of my income and it has given me time to reassess my finances. I reinvest all of the money from my Amazon FBA business so I don’t save any of that and I did splurge on a Nintendo Switch this month but other than that, I have been good and my savings are looking in good shape!
If you haven’t read my last post, I am saving for a house and trying to get my savings into a better shape! I have a target savings goal of 10% of my earnings since I was 18 (a rule I made for myself at 18 and did not stick to) to save up for through a combination of doing more side hustles to ern a little extra and saving more to bring my total up to what it should be.
So with the total 10% of my earnings from this month, my current target is £4053. I am splitting this money between 4 different savings schemes. The Lifetime ISA, a Stocks and Shares ISA with Tickr, an Innovative Finance ISA with Assetz Savings and a Cash ISA that I haven’t opened up yet. So let’s see how my totals are looking at the moment!
LISA – £1015 (plus government bonus)
Tickr ISA – £556 (currently worth £568)
Assetz Capital – £90 (plus £0.01 of interest so far, (only opened at the end of the month!).)
That brings my current savings total (without bonuses or interest) to £1661 so I met my goal last month which was to save £1000 in May. I exceeded it by £156! This makes me 40% of the way there to my 10% of earnings savings goal and a third of the way there towards my £5000 towards a house deposit goal!
I have really been enjoying using my Tickr Stocks and Shares ISA and so far it is performing very well! Don’t forget if you would like to try out Tickr, that you can get £10 free if you sign up here and use the code katyg8322!
For savings in June, I might be moving out of my parents again and back up to Edinburgh, maybe towards the end of the month. With that in mind, I don’t want to make my savings goal too crazy if I am going to be starting to pay for rent and food again so I am going to go with aiming to save £1250 in June. June might also be exciting as I am hoping to open a LTD company for my Amazon business!