The 'Save 12k in 2013' Thread!

MissyD_2 · 5 April 2013 at 4:56PM

samblake wrote: »

Do not understand what you say ....

Miss X saves a total of 1000 p/m
Amount - Purpose, Savings Account type
£100 pm - Bday/Xmas, easy access, no penalties (rate will probably be crap, although you could find some current accounts that pay better rates than some savings accounts, if you can have/want multiple current accounts or you trust your self not to spend savings in here if its your main current account)
£300 pm - Car Insurance, Regular Savers Account (requires monthly deposit of usually a fixed amount, some do variable, like First Direct Regular Saver)
£150 pm - Holiday, 1 year fixed rate Savings account (as this planning for your holiday next year)
£450 pm - Long term savings, CASH ISA for current tax year (although it is better to max out your ISA ASAP for maximum tax free interest)
I hope that helps.....please feel free to ask questions;)

[Deleted User] · 5 April 2013 at 6:16PM

Hello, I have been a reader of this thread on and off for quite a while, but I find it good to come on here and read about how everyone else is doing, it really helps with motivation!!

A little bit about me, I'm 19 years old and currently in the process of saving £30k with my boyfriend. We aim to save £20k for a house deposit, £4k for furnishings/improvements, £3k for his pigeon lofts (he races pigeons), and £3k for a wedding.

£4k for furnishings as currently we live at my parents - so don't have any furniture.
£3k for his pigeon lofts because once he's built his 'dream lofts' its done and he can keep them for years.
£3k for a wedding, thought I would chuck this on the end as I'd rather save than have to take out a loan!!

Anyways I posted in this topic, as we plan on taking 30 months to do it (approx 2 and a half years) and therefore, we are planning on saving 12k this year. As of now, entering april we are doing quite well. We have £3200 put away.

He does have a car loan that we could pay off with that money, but when we rung for a settlement figure it didn't save alot of interest paying it off early and we would rather keep the 3k, as it is psychologically easier to add to, rather than start again.

So, back on track. Currently we have £3200 put away, which for 3 months savings I am quite happy with. We both plan to put away at least £500 a month - so £1k between us a month. Hopefully we get ahead of ourselves because we'll still take out little bits eg car insurance, my college course... and hopefully if we have say 14k at the end of this year we really want a holiday next year, but that's getting ahead of myself!!

So that's where I am, really happy to be getting involved in this thread!! x

nat21luv · 5 April 2013 at 6:19PM

Bless you MissyD for replying....

But its spam:o

MissE001 · 5 April 2013 at 7:26PM

I don't expect to have anything to add for the next couple of months - saving my holiday spending money now before I start topping up my "no-touch" savings.

Like others, I have little pots for various things:

Car insurance/house insurance/road tax
Christmas savings
Big holiday next year
Miscellaneous (birthdays etc). My holiday saving-up for this year will go in here

Anything else goes in the ISA and that's what I'm counting on here.

Hoping to put it towards a house deposit at some point in the next year or so. I've got a bit of equity in my house which will be most of the deposit but will be nice to have a little cushion.

I've had my wee pots for the last couple of years but this is the first time in 40-odd years that I've ever saved. Shameful but true....and it feels great! :A

Happy saving everyone - I'll keep posting regardless of saving at the moment as you all keep me motivated

MissyD_2 · 5 April 2013 at 7:27PM

nat21luv wrote: »

Bless you MissyD for replying....

But its spam:o

hopefully someone else will find :money: useful x

stavromueller · 5 April 2013 at 8:46PM

I also only include savings that will still be in my account on the 31st December.

£300 so far for April

Twiggy_34 · 5 April 2013 at 9:01PM

eklipze wrote: »

I think it's all relative isn't it ? There are no fixed rules to this thread and it's down to you how you want to interpret "saving".

I'm sure everyone here will have different reasoning, so .... count what is applicable to you.

I agree 100%, especially as we all respond differently to different types of motivation. Like you it's the first time in a while that I've been out of debt. I have a few longer term goals, the main one being to save up my share of a sizeable deposit because my partner and I have plans to purchase the flat downstairs at some point in the future (from his parents, and in doing so we'll acquire the freehold for our flat as well as having an additional property to rent out and cover the, hopefully small, mortgage we'll need for the balance).

However, this year the challenge is about psychological benefits for me, I cleared the last £1600 of credit card debt thanks to the inheritance I got after my dad passed away last year. I want to acknowledge the debt I had by saving the same amount and feel that, in a roundabout way, I paid it off myself rather than feeling like dads hard earned money had to be used to bail myself out. I'm not sure that makes sense, but I think you'll get the gist!

YoungBusinessman · 5 April 2013 at 10:04PM

I will be classing everything I still have on 31st as money saved. Hopefully make progress this weekend, got a fair bit of work to do, can't be mucking around!

Desperate_Housewife_2-2 · 6 April 2013 at 6:45AM

Just sorted out my isa interest and adding it to the challenge total which is now £5839.74! I will update at the end of the month as I have updated for March already. I am a bit overdrawn as I topped up my isa and hubbys one so I didnt miss out on the deadline but will catch up later on. Good luck to fellow 2013 challengees

nat21luv · 6 April 2013 at 9:38AM

Total interest on savings, 38p

The 'Save 12k in 2013' Thread!

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