Saving Techniques

-Alfie-

-Alfie-

Suspended / Banned
Messages
12
Name
Alfie
Edit My Images
Yes
Ok guys, seeing as you are all photographers you probably spend quite a lot of money on equipment. My question is how do you save up for that next camera or lens?

Do you put aside some money weekly? Or do you put pennies in a jar? Or perhaps you don't save and you just spend on equipment regardless.


I'm just interested as I'm starting to save up for my first camera and at the moment I have zilch.


Thanks,
Alfie :thumbs:
 
Greetings...

Dunno, i just get things between bills and such, we do have money in savings but i tend not to
touch that for my bits and pieces.

I did save quite a lot up a while back but ended up blowing it on an expensive caravan... :thinking:
 
Rob_W said:
caravan... :thinking:
Click to expand...

Oh god, you're one of them :(
:D

Everybody does things differently, I bought my camera on credit, and other stuff I buy when I get extra duty pay etc from work.
 
I have two way I save. I save a set amount each month by Direct Debit into my "hobbies and pastimes" fund, then also at the end of each month when I get paid it put anything that's left into the fund too.

So say I'm paid £1000 a month and on pay day after my wage has gone in the bank there is £1052.50 in my account the I move the £52.50 to the "hobbies and pastimes" fund.
 
whiteflyer said:
I have two way I save. I save a set amount each month by Direct Debit into my "hobbies and pastimes" fund, then also at the end of each month when I get paid it put anything that's left into the fund too.

So say I'm paid £1000 a month and on pay day after my wage has gone in the bank there is £1052.50 in my account the I move the £52.50 to the "hobbies and pastimes" fund.
Click to expand...


Ooooo, that seems like a plan. I'm a student going to university in September, however I'm sure I could spare some of my bursary money for camera equipment.
 
you;ll be suprised at just how far a student loan doesnt go when at uni, what with bills, rent, tuition fees etc you'll have diddly squat.


my savings technique is quite new to me as i used to just splurge money on things and then pay it off which wasnt the best way as i ended up with a large credit card bill and lots of interest. i now save money by putting it aside into a savings account and only when i have enough do i buy anything!
 
whitewash said:
you;ll be suprised at just how far a student loan doesnt go when at uni, what with bills, rent, tuition fees etc you'll have diddly squat.


my savings technique is quite new to me as i used to just splurge money on things and then pay it off which wasnt the best way as i ended up with a large credit card bill and lots of interest. i now save money by putting it aside into a savings account and only when i have enough do i buy anything!
Click to expand...

Well to be fair the only reason that most students go without is because they spend all of their loans/grants on alcohol. In a typical student budget I'd say around 10% of the money a week goes on alcohol. I might instead put this money aside for a camera.
 
If I've got the money for the kit I want then I'll buy it (as long as there's plenty left to live on!). Can't save if I try, although I can avoid spending money if I don't have any!
 
-Alfie- said:
Well to be fair the only reason that most students go without is because they spend all of their loans/grants on alcohol. In a typical student budget I'd say around 10% of the money a week goes on alcohol. I might instead put this money aside for a camera.
Click to expand...

Budget is the key word. If you do not know where the money is going how do you know where to make savings?
Have a look around here for starters - a lot may not be relevant to you but the Budget planner is good
http://www.moneysavingexpert.com/protect/money-help
 
Last edited:
put it on a 0% card - then pay it off...


it is more clever then you think - currently if you save - banks pay very little - in the mean time some price have gone up by 20-40%!...

those that brought canon, nikon or sigma lenses around 6 months ago on a 0% card could sell them and pay off the card and make a profit...

but if you started saving 6 months ago the recent price increases mean - you need to start again...
 
-Alfie- said:
In a typical student budget I'd say around 10% of the money a week goes on alcohol.
Click to expand...

I'd say in a typical student budget around 90% of the money a week goes on alcohol. :lol:

I remember one guy getting his grant on the Friday and coming in on the Monday showing off his new outfit, which had cost most of his grant cheque. He said it was okay as he would just cut back his spending for the next few weeks - he was under the assumption that the first cheque had to do him a month not a whole term :lol:
 
I don't really save as such. The money in my current account just grows every month. I need to open a savings account really to keep it separate and get more interest :)
 
student loans and student overdrafts are evil things, i have 70 pounds left to last me the term (hanging on a wage package to come in) and I don't drink much. Though I did spend 2/3 of my loan after tuition and halls on camera kit this term. The most important thing is sorting it out at the start, are you going catered or non? if your in catered then you pay the term upfront, then take out know bills like phone bill or prev loan or something and put that into a diff account, now you know that you get 2 meals a day and won't be seized for debt if you go out and spend everypenny you have left on camera kit :D
 
You must log in or register to reply here.
Back
Top