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  • FIRST POST
    • slowlyfading
    • By slowlyfading 28th Nov 15, 8:34 PM
    • 12,900Posts
    • 73,198Thanks
    slowlyfading
    The "Save 12k in 2016" Thread!
    • #1
    • 28th Nov 15, 8:34 PM
    The "Save 12k in 2016" Thread! 28th Nov 15 at 8:34 PM
    So, the title is pretty self explanatory, but this is the place to be in 2016

    In 2016, the aim is to save £12k (or, any other amount if you like!) from 1st January 2016 til 31st December 2016. I know it's early, but it gives you the time to plan for how you are going to do it!


    RULES:
    - This challenge starts on 1st January 2016 00:00 and finishes on 31st December 2016 23:59.
    - Everything saved MUST be done between these two dates.
    - Any interest gained during this challenge on your savings can be counted!


    Feel free to sign up but, please only sign up if you intend to go the distance - the thread for 2013/2014/2105 started off great and then lots of people disappeared

    Challenger List:
    001. slowlyfading - £10,000
    002. Lolly88 - £8,000
    003. PrincessLou - £5,000
    004. jamiednm - £11,000
    005. Melaniep101 - £12,000
    006. tempus_fugit - £14,000
    007. Wentthedaywell? - £13,000
    008. darkidoe - £12,000
    009. mummytummy - £12,000
    010. bsms1147 - £15,000
    011. cathybird - £15,000
    012. brizzledfw - £12,000
    013. freezspirit - £6,000
    014. ajdj - £12,000
    015. frasersmum123 - £3,000
    016. Westie983 - £12,000
    017. garfield33 - £6,000
    018. abba1772 - £5,000
    019. savings my hobby - £10,000
    020. chrislee2810 - £15,000
    021. Phaelok - £15,000
    022. geoffers4 - £25,000
    023. Cweb - £12,000
    024. jacci45 - £12,000
    025. kev2009 - £6,000
    026. Ruthy1604 - £28,000
    027. Starting Again - £16,000
    028. Hantsman - £19,000
    029. wifey27 - £10,000
    030. Unicorns - £12,000
    031. sofarbehind - £12,000
    032. calltheshots - £5,000
    033. Notfarfromtheborder - £19,000
    034. Dragon Lily - £2,000
    035. tara747 - £12,000
    036. chelseasblue
    037. letiss7 - £6,000
    038. SMGee - £6,000
    039. copperjar - £6,000
    040. Hairpin - £12,000
    041. TrustyOven - £6,000
    042. MrsC2be - £4,000
    043. aidysproule - £12,000
    044. rjrs0510 - £30,000
    045. george4064 - £12,000
    046. enthusiasticsaver - £15,000
    047. letThemPlay - £2,000
    048. summerlady - £1,200
    049. Sox77 - £6,000
    050. lessavyfav -£9,000
    051. tmsbry - £12,000
    052. dmackaywork - £12,000
    053. coolcats - £7,000
    054. Bradlad9 - £4,000
    055. Justonething - £24,000
    056. Lomcevak - £30,000
    057. Tea&Biscuits - £7,000
    058. Miss money penny - £5,000
    059. ourcornercottage - £3,000
    060. ALIBOBSY - £6,000
    061. Speedster2 - £12,000
    062. Hopeful30 - £12,000
    063. FlareStar - £5,000
    064. lynnejk - £6,000
    065. Anouchka - £7,000
    066. micron - £12,000
    067. YoungBusinessman - £15,000
    068. laurra - £8,000
    069. mylastpound - £6,000
    070. x0emz0x - £3,000
    071. BE95 - £6,000
    072. velocity_girl - £6,000
    073. Gem-gem - £9,000
    074. FinallyGettingFree - £3,000
    075. adam68 - £5,000
    076. sezamma - £5,000
    077. ViktorOnopko - £6,000
    078. selloptape - £2,000
    079. Rosie D - £10,000
    080. matt_66 - £9,000
    081. black taxi - £10,000
    082. Saver-upper
    083. Twiggy_34 - £2,000
    084. ToiletLicker - £12,000
    085. boglehead - £100,000
    086. bobobski - £10,000
    087. Karen's girl - £6,000
    088. IvanovSteliyan - £10,000
    089. XSpender - £5,000
    090. mas2000 - £12,000
    091. wishus - £5,625
    092. Suffolk lass - £6,000
    093. Squitchley - £6,000
    094. jessy-eve - £5,000
    095. savingfortomorrow
    096. Dird - £15,000
    097. hydrangea - £6,000
    098. lessonlearned - £12,000
    099. Buffythedebtslayer - £4,500
    100. Urchhh - £3,350
    101. lisa110rry - £15,000
    102. dark.knight - £9,000
    103. chris9393 - £8,500
    104. phil09 - £15,000
    105. TheBanker - £12,000
    106. amyt13 - £6,000
    107. Marcus_C - £7,000
    108. s1ipmatt - £2,500
    109. daveyjones95 - £13,000
    110. Kreacher - £6,000
    111. geeovana - £17,500
    112. monochome_blue - £8,000
    113. Wilkos - £10,000
    114. imajica37 - £6,000
    115. Short-n-Sweet - £5,000
    116. benbenandme - £6,000
    117. Shrewbie - £10,000
    118. maul123 - £9,000
    119. Carrie85 - £10,000
    120. alja - £10,000
    121. Determined diva - £12,000
    122. ruby911 - £12,000
    123. brenda10 - £15,000
    124. nat21luv - £10,000
    125. Leeruddecology - £6,000
    126. fabforty - £12,000
    127. Domayne - £8,000
    128. r0ckyd0g - £2,400
    129. lol omg wtf - £6,000
    130. user1168934 - £18,000
    131. 166million - £5,357.69
    132. ipie - £12,000
    133. allie23 - £5,000
    134. loopy53 - £12,000
    135. SusySweden - £14,450
    136. aNom - £18,000
    137. FlacosFloozie - £5,000
    138. GTR King - £4,000
    139. Bryando - £5,000
    140. e4rly - £4,000
    141. NectarCollector - £2,000
    142. ffacoffipawb - £
    143. ArmyDillo - £20,000
    144. gazzer666 - £40,000
    145. RichyRich - £12,000
    146. jacquelinestar - £9,000
    147. Ben91 - £13,000
    148. emincosi - £8,000
    149. ahX - £12,000
    150. There Is A Light - £14,400
    151. JamesFews - £12,000
    152. SilverFox89 - £6,000
    153. lolo06 - £6,000
    154. Stickleback27 - £14,000
    155. scratched - £16,000
    156. mattdeeks - £5,000
    157. Ashers92 - £12,000
    158. Cambia - £12,000
    159. Born_Free - £12,000
    160. Bruce Bumba - £6,000
    161. kitjos - £12,000
    162. Galenzorz - £6,000
    163. Hutchch0920 - £7,150
    164. kitty_ - £9,000
    165. sweetpeas - £18,000
    166. BelfastFTB - £10,000
    167. Candyapple - £12,000
    168. Me! Me! Me! - £4,500
    169. darksoul - £6,600
    170. myteeduck - £2,500
    171. Seafoam - £22,000
    172. Tiglath - £10,000
    173. SusanneCape - £12,000
    174. Anavand - £30,000
    175. PoorGuyNextDoor - £10,000
    176. Save Dosh - £12,000
    177. Downes2013 - £5,000
    178. Aliliva - £7,300
    179. vicky_ - £12,000
    180. -Selene - £6,000
    181. Susuzak - £5,000


    CLICK HERE for the easy update form:
    https://docs.google.com/forms/d/1cfJVWP62Cmn-rnS3TEfSIQJ9uAkxFHdFHPyf3vLZr4s/viewform


    CLICK HERE to see the total amounts so far:
    https://docs.google.com/spreadsheets/d/13i1sj4B3PnNpa-77U9EEGjWMqLiej9W0LGvvBo7vKIY/edit?usp=sharing



    Last edited by slowlyfading; 31-07-2016 at 9:34 PM.
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / Dec NSD - 0/15 / Ultimate Dream Fund - £10,417.97/£306,000
    Engaged 14/08/10 // Married 31/03/12 // DS born August 15
Page 78
    • emincosi
    • By emincosi 3rd Oct 16, 6:27 PM
    • 14 Posts
    • 91 Thanks
    emincosi
    Hi Westie! Not sure how yours works, but ours comes directly out of the payroll (I save 300pm into it) - at the end of the savings period (3,5,7 years) you can choose to take the cash, buy shares and hold them, or buy shares and immediately sell them for a profit (if at loss you'd just get the cash back). The only drawback is that you don't get any interest on your savings. The total for the year for me will be 3600 - but I didnt count that towards the challenge hehe - I guess it's up to you if you wanted to!
    Saving £8k in 2016!! #148 - £4800/£8000

    An additional £30k in savings by 30 goal - End of September 2016:
    Total Savings: £9,797.66/£38069.73
    Total Wealth (incl. Pension and Emergency Fund): £44,156.98
    • Westie983
    • By Westie983 5th Oct 16, 5:17 AM
    • 3,214 Posts
    • 12,573 Thanks
    Westie983
    Hi Westie! Not sure how yours works, but ours comes directly out of the payroll (I save 300pm into it) - at the end of the savings period (3,5,7 years) you can choose to take the cash, buy shares and hold them, or buy shares and immediately sell them for a profit (if at loss you'd just get the cash back). The only drawback is that you don't get any interest on your savings. The total for the year for me will be 3600 - but I didnt count that towards the challenge hehe - I guess it's up to you if you wanted to!
    Originally posted by emincosi
    Mine works in exactly the same way apart from we only have a 3 year option, I dont include it in this challenge as I cashed in my 2016 one as the option price was at the higher figure and the new 2017 one was at a lower option price so I cashed in so I could put more in 2017 one, and it had only been going for 8 months out of 3 years.

    Not due to start again till January so Ill give it some thought if I include it, as I suppose its still savings, coming out pre tax from wages.

    :-)
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • TheBanker
    • By TheBanker 5th Oct 16, 6:22 AM
    • 489 Posts
    • 1,259 Thanks
    TheBanker
    Hi Westie! Not sure how yours works, but ours comes directly out of the payroll (I save 300pm into it) - at the end of the savings period (3,5,7 years) you can choose to take the cash, buy shares and hold them, or buy shares and immediately sell them for a profit (if at loss you'd just get the cash back). The only drawback is that you don't get any interest on your savings. The total for the year for me will be 3600 - but I didnt count that towards the challenge hehe - I guess it's up to you if you wanted to!
    Originally posted by emincosi
    Ours works the same, and worth adding that the price of the shares is the price at the start of the scheme (or 20% less than the price at the start of the scheme in our case). Used to be an almost guaranteed profit but recent years have not been kind to bank shares.
    Make £10 a day challenge: Oct-16: £88.79 / £310
    • cathybird
    • By cathybird 5th Oct 16, 2:16 PM
    • 2,340 Posts
    • 6,376 Thanks
    cathybird
    It looks as though we are collectively getting very close to the million mark - I wonder if we have actually reached it? ... Or if it will be end of October
    No. 11 in Save 12K in 2016: £18,915.68/£15,000. Target reached 1 August.
    Amazon/eBay July '15 to end Aug: £4,283.59. MB: £406.67 Total: £4,690.26
    December AFDs: 3/21 2016 AFDs: 196/200
    Savings goal for 2015: £10,000. Saved: £25,464.86
    • Kreacher
    • By Kreacher 5th Oct 16, 2:56 PM
    • 66 Posts
    • 85 Thanks
    Kreacher
    My trusty £500 saved again for September. Takes me to £5900, just £100 off my target!!
    Save 12K in 2016 #110 £6400/ £6000 (100%)
    • Westie983
    • By Westie983 5th Oct 16, 8:07 PM
    • 3,214 Posts
    • 12,573 Thanks
    Westie983
    Ours works the same, and worth adding that the price of the shares is the price at the start of the scheme (or 20% less than the price at the start of the scheme in our case). Used to be an almost guaranteed profit but recent years have not been kind to bank shares.
    Originally posted by TheBanker
    agreed which is why I sold 2015, shares and re-bought again at the lower share price minus 20% so I think I should get into profit in 3 years but wasnt sure with the old share price as it was at 75p.-
    Save 12k in 2016 #16 Total £14650/£12000 = 122.08%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£13/£300 = 88.33% ( x 10)
    Xmas 2017 £1 a Day #6 Total £34.00/£365 = 9.31%
    Virtual Sealed Pot #1 Total £800/£800 = 100.00%
    £2 Savers Club 2016 #104 Total (£1060)+£386/£2000 = 72.30%

    Total £17195.78/£15465 = 111.18%
    • emincosi
    • By emincosi 6th Oct 16, 10:04 AM
    • 14 Posts
    • 91 Thanks
    emincosi
    Yours comes out of pre-tax wages? That's amazing! Ours is post-tax!

    But yes to the 20%, same in our case - however, it's a bit useless, as our shares have lost more than 50% this year in value...
    Saving £8k in 2016!! #148 - £4800/£8000

    An additional £30k in savings by 30 goal - End of September 2016:
    Total Savings: £9,797.66/£38069.73
    Total Wealth (incl. Pension and Emergency Fund): £44,156.98
    • Sanctioned Parts List
    • By Sanctioned Parts List 6th Oct 16, 4:53 PM
    • 294 Posts
    • 764 Thanks
    Sanctioned Parts List
    I'm late to the party again! I didn't know this thread even existed having spent most of the year on the DFW boards, but have been diligently saving away nonetheless.

    So... is it better just to set a target for the last two months, or shall I report the year to date as well?

    • Hantsman
    • By Hantsman 6th Oct 16, 8:58 PM
    • 89 Posts
    • 502 Thanks
    Hantsman
    I'm late to the party again! I didn't know this thread even existed having spent most of the year on the DFW boards, but have been diligently saving away nonetheless.

    So... is it better just to set a target for the last two months, or shall I report the year to date as well?
    Originally posted by Sanctioned Parts List
    I think it's probably up to you, this is a fairly relaxed thread, it might be easier to post a goal for the last 3 months of the year then start afresh in 2017 but like I say, it's up to you
    12K in 2014 No.214: £19090.48/ £16,500 (115%)
    12K in 2015 No.038: £17442.34/17000 (102%)
    12K in 2016 No.028: £18306.68/ 17000 (108%)
    £80,000 by Jan 2017: £81419.91/ £80,000 Achieved 01/10/2016!
    £100,000 by Jan 2018: £84278.81/£100,000 (84%)
    • slowlyfading
    • By slowlyfading 6th Oct 16, 8:59 PM
    • 12,900 Posts
    • 73,198 Thanks
    slowlyfading
    So... is it better just to set a target for the last two months, or shall I report the year to date as well?
    Originally posted by Sanctioned Parts List
    Feel free to report year to date, if you know it! I always like to add numbers to the pot
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / Dec NSD - 0/15 / Ultimate Dream Fund - £10,417.97/£306,000
    Engaged 14/08/10 // Married 31/03/12 // DS born August 15
    • slowlyfading
    • By slowlyfading 6th Oct 16, 9:11 PM
    • 12,900 Posts
    • 73,198 Thanks
    slowlyfading
    Apologies for the delay in updating, I have done that now. I'm struggling a bit to be honest (see my diary on mfw if you want).

    However, we've passed the £million mark saved well done everyone!
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / Dec NSD - 0/15 / Ultimate Dream Fund - £10,417.97/£306,000
    Engaged 14/08/10 // Married 31/03/12 // DS born August 15
    • Sanctioned Parts List
    • By Sanctioned Parts List 6th Oct 16, 10:39 PM
    • 294 Posts
    • 764 Thanks
    Sanctioned Parts List
    Feel free to report year to date, if you know it! I always like to add numbers to the pot
    Originally posted by slowlyfading
    Thanks!

    To end of September '16, including company-matched pension deposits but excluding interest and home equity following mortgage payments, I've saved £26,151. I reckon I should hit £30k plus a bit by the end of the year in deposits - especially as I've just increased my pension savings rate.

    • tara747
    • By tara747 7th Oct 16, 9:31 AM
    • 9,952 Posts
    • 26,408 Thanks
    tara747
    Apologies for the delay in updating, I have done that now. I'm struggling a bit to be honest (see my diary on mfw if you want).

    However, we've passed the £million mark saved well done everyone!
    Originally posted by slowlyfading


    Wow!!!!!!!!!!!









    Well done to all of us - and most of all to slowlyfading for keeping this amazing thread going
    Get to 119lbs! 1/2/09: 135.6lbs 1/5/11: 145.8lbs 30/3/13 150lbs 22/2/14 137lbs 2/6/14 128lbs 29/8/14 124lbs
    Save £110,000 by 31 Dec 2016! Dec 2011: £54,342 * Dec 2012: £62,200 * Dec 2013: £74,127 * Dec 2014: £84,839 * Dec 2015: £95,207
    eBay sales - £4,559.89 Cashback - £1,811.15
    Be a nicer daughter, sister and friend
    • boglehead
    • By boglehead 7th Oct 16, 10:32 PM
    • 156 Posts
    • 361 Thanks
    boglehead


    However, we've passed the £million mark saved well done everyone!
    Originally posted by slowlyfading
    Awesome!

    Good job to everyone... All put towards creating a good future for ourselves.
    Total Debt (inc. mortgage)
    12/2012 - £893k
    12/2015 - £723k
    • bsms1147
    • By bsms1147 7th Oct 16, 11:34 PM
    • 1,920 Posts
    • 3,421 Thanks
    bsms1147
    Awesome. How does that compare with last year?
    • bobobski
    • By bobobski 8th Oct 16, 6:59 AM
    • 395 Posts
    • 1,015 Thanks
    bobobski
    Awesome. How does that compare with last year?
    Originally posted by bsms1147
    If I'm reading the table correctly, they hit £1 million in August last year. But y'know, Brexit or something

    Also there were more participants last year.
    #86: Save £12k in 2016: £7,792.18 / £10,000 (77.92%)
    House deposit by 31/12/2020: £10,763.60 / £60,000 (17.93%)
    Emergency fund by 31/12/2020: £294.91 / £5,000 (5.89%)
    • black taxi
    • By black taxi 8th Oct 16, 2:01 PM
    • 1,792 Posts
    • 6,230 Thanks
    black taxi
    fund manager invested yesterday £834
    cash isa £200

    g/l all
    £48515 interest £181 (2009)debt/mortgage-MFIT/T2/T3
    debt/mortgage free 28/11/14
    vanguard 60/40 accum isa £9822
    holiday/emergency fund£800
    #81 save 2016 £10k
    • e4rly
    • By e4rly 9th Oct 16, 1:47 PM
    • 38 Posts
    • 349 Thanks
    e4rly
    Hi all, I have been absent from the board for a few months. I have not been good while I was away - in fact my money spending habits probably deterred me from posting. But now I am back to get into better financial shape again!

    So I need to reset my savings, as my year-to-date total is now lower. I have also sat down and analysed my spending in my "lost months" and can see exactly what the cause was, so I should be able to get back on track. Unlikely to make my target, but hopefully will be healthier by the year end, plus I have received a small pay increase so will allocate more to saving.
    Save £12k in 2016: £3,258 / £4,000 (No: 140)
    MFW: £5,600 / £6,000 (No: 67)
    • SpekySquarehead
    • By SpekySquarehead 10th Oct 16, 9:03 AM
    • 915 Posts
    • 7,129 Thanks
    SpekySquarehead
    Huge well done everyone. Let's keep on saving!!!
    Debt Free Date: 29/09/16
    Savings Target by June '17 = £1,350/£4,000
    NSD (18/20)
    • darkidoe
    • By darkidoe 10th Oct 16, 8:03 PM
    • 638 Posts
    • 682 Thanks
    darkidoe
    Been busy busy busy, moved houses, attended funerals, and then weddings. So I missed out doing accounts for past few months. But now I can claim a net balance of +2196.55 for the past few months that flew by. Poor saving standards by my standards. But anything positive is a positive.
    Save 12K in 2016 # 8 £16 253.55/12 000 (135.45%) Achieved!
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