My Saving log

savingmummy

wow well done!!
Amazing how much you`ve saved you should be VERY proud of yourself!!

Sylvia1982

Hello everyone!

Well this month has been busy.
I have been to the bank to sort out and close all redundunt accounts that i had, as they were beginning to annoy me when i would look online and i also checked my saving accounts interest rates have not changed without my knowledge.

Here goes with my savings for this month

July
Fees = £1,200
Grand Total = £9,600

Emergency Fund = £100
Grand Total = £4,129.98

Holiday Fund = £20
Grand Total = £320

Presents Fund = £10
Grand Total = £10

Newer Car Fund= £250
Grand Total = £2,265

I would of managed to save alot more this month, if i had submitted my over time form on time . Hopefully it will be in my next pay(fingers cross)

I have finally managed to work out that i don't wish to borrow more than £100k when i get my mortgage, so i can live comfortably. So i need to decide exactly how much more i need to save towards my Deposit fund, it could be another £5k - £10k.
I have a target goal for my fees fund to be met by September :j
I will then divide £1,200+ between my Emergency fund and Newer car fund

bye for now...

Sylvia

Sylvia1982

Hello everyone,

I hope you all are okay.

Well this month has been very busy for me. I have finallypulled my finger out and increased my pension contribution amount at work inJuly, as it’s a final pay scheme (it just made more sense). This has made mypay go down by about £100 after deductions too about £250 pcm going towards it.With me now turned 30 years old this month, I will need to start thinking of mylong term savings as well.

I was sooo happy to see most of my over time in my paypacket today .It has been split between my deposit fund, holiday fund and newer car fund

I have been told after October, there will be hardly anyover time for those in my department .So I will just have to treat any over time money that I receive from now on notto pretend it’s not a part of my salary and put it straight into savings (as I wasstarting to get use to spending it)

Here goes with my savings for thismonth

August

Deposit Fund = £253.40+337.82(ISA interest)

Grand Total =£39,301.68:beer:


Fees = £1,200
Grand Total = £10,800

Emergency Fund = £100
Grand Total = £4,229.98

Holiday Fund = £56.20
Grand Total = £378.10

Presents Fund = £10
Grand Total = £10

Newer Car Fund= £286.20
Grand Total = £2,552.90

II havealso met this month my end of year target for £12k in 2012 challenge, with grandtotal saved £12,182.42 (excluding holiday fund):T:T:T

Cannot wait to see how much I will manage to save end of this year, as I am doing a lot better than I originally predict.:D

Bye for now…

Sylvia

Zekko

Good job Sylvia. Keep up the good work!

Still over a year until your target date, so you should have a very nice deposit by then.

MoneySaverLog

Sylvia1982 wrote: »

I havealso met this month my end of year target for £12k in 2012 challenge, with grandtotal saved £12,182.42 (excluding holiday fund):T:T:T

Congratulations on hitting the target early, keep going :beer:

markwilkinson

Regarding your overtime. Some years ago I decided to make a bit more of an effort to save my overtime payments. What I did was after a month of no overtime I made a mental note of what my 'standard' take home pay was. It's an easy calculation now to work out the net result of overtime and bonus which I can then transfer straight into a savings account.

MiddyMum

Well done Sylvia, I just read your whole journal lol. You are an inspiration! I really like the way you split your savings between different funds and it is something I will definately do as I was wondering how to organise my savings so thank you. xx

Sylvia1982

Hello everyone,

I hope you all are okay.

Thank you Zekko, MoneySaverLog and markwilkinson for all your post.
MiddyMum, i find it really useful by splitting my funds in this way and i am able to keep track on everything.


Its that time again, here goes with my savings for this month

September

Deposit Fund = £128.80 overtime

Grand Total =£39,430.48:beer:


Fees = £1,200
Grand Total = £12,000 :beer:

Emergency Fund = £100
Grand Total = £4,329.98

Holiday Fund = £20 + £18.40 overtime
Grand Total = £416.50

Presents Fund = £10
Grand Total = £10

Newer Car Fund= £250 + £18.40 overtime
Grand Total = £2,552.90

I am happy with my savings for this month and the fact i have finally hit my Fees Fund :j. Its only sinking in with the fact i am getting even closer to buying my first home .

I will be saving towards my Emergency Fund from next month with £1,300, Newer Car Fund £250 and any overtime split as usual.


Bye for now...


Sylvia

EmSp

Wow Sylvia! You are doing so well!

Congratulations! I really need to start saving more seriously. My current savings goal is a holiday at Christmas... should really start putting more away for a deposit!

I'm looking forward to the launch of the OrSaveIt app so I can start making small savings every day. I think that will be an easy way of clocking up savings!

I saw from one of your previous posts you mentioned the congestion charge, so you must live in London. Me too and my excuse for not saving much over the past year has been: "It's so hard to save, when you live in London," but you've just proven me wrong!

Sylvia1982

Hello everyone,

Quick post, just had a look at my accounts and noticed i received £66.79 in interest yesterday so that is going towards my Deposit Fund and makes the new total £39,497.27:beer:

EmSp wrote: »

Wow Sylvia! You are doing so well!

Congratulations! I really need to start saving more seriously. My current savings goal is a holiday at Christmas... should really start putting more away for a deposit!

I'm looking forward to the launch of the OrSaveIt app so I can start making small savings every day. I think that will be an easy way of clocking up savings!

I saw from one of your previous posts you mentioned the congestion charge, so you must live in London. Me too and my excuse for not saving much over the past year has been: "It's so hard to save, when you live in London," but you've just proven me wrong!

Hi EmSp, you are right i do live in London. All i can say regarding the savings side is everyones situation is different. I am in the fortunate position to be allowed to move back to the family home around 3 years ago so i can get to my end goal even quicker. I know exactly what renting in London is like and trying to save, it didn't work out well for me as i couldn't save more than £350 pcm due to high outgoings.
Hope this helps

Bye for now...


Sylvia