11 Oct 2012


I've always struggled with motivation. I always blamed it on being plain lazy. I'm still pretty lazy now, but I have got better.

One of the things I've found that helps me out of the rut is picturing the end. Whether it be the finished masterpiece or the pay rise that will (hopefully) await me.

As you can tell from the rest of my blog I try to save as much as possible. As I'm just starting out I don't have a lot of savings. I thought the best place to start saving was in a tax sheltered ISA. This type of savings account allows all interest or capital gains to come to me tax free. 

Great! I thought so I looked around for the best rates and what did I see? Bum all! 3% was the best I could get without tying myself in for 3-4 years. As I will probably need to tap this cash in the next 12-18 months I had to put this limit in place.

So as you can probably tell I'm not earning a lot of interest. This has caused me some concern, is it really worth saving all this money if I hardly earn any interest? 

Then I had an epiphany today. I got my water bill! Hardly the most exciting news ever. But   when I saw the amount I thought OUCH! Is that just for water? Then I looked a little closer, it was for 4 months of water usage, so it then didn't seem too bad.

Then I had another thought, even my small ISA balance with it's paltry savings rate has allowed me to earn as much interest as this entire water bill!

Then I thought, someday I'll have enough saved up to earn enough interest to pay all my bills!! 

So now all I want to do is save as much as humanly possible to get to this end point as quickly as possible!!! 

Any tips on how to do this would be brilliant!

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