The 'Save £12k in 2012' thread!

disaffected

Hello.. Fresh MSE meat so be gentle.

Without intending any cheek, what on earth does everyone do that saving £12k in a year is a realistic prospect!? I have a reasonable job with an above average (as far as I know) salary, but ordinary expenses like rental costs and other basics mean this just sounds huge! Do you all live in tents on the beach, get involved in spurious drug trials or otherwise bare-knuckle box for greasy fivers??

That said, I am saving for a deposit myself and intend to commit to 700/mth for 2012. And gimme a heads up if you know of anyone selling a tent

Hermia

disaffected wrote: »

Hello.. Fresh MSE meat so be gentle.

Without intending any cheek, what on earth does everyone do that saving £12k in a year is a realistic prospect!?

I know what you mean! Bear in mind that some of the posts on this thread use the word "we" so they could be talking about two wage packets and bills split between two. I could never save £12k even if I only paid for rent, utility bills and basic food items, but may set myself a more achievable challenge.

sweetpeas_2

disaffected wrote: »

Hello.. Fresh MSE meat so be gentle.

Without intending any cheek, what on earth does everyone do that saving £12k in a year is a realistic prospect!? I have a reasonable job with an above average (as far as I know) salary, but ordinary expenses like rental costs and other basics mean this just sounds huge! Do you all live in tents on the beach, get involved in spurious drug trials or otherwise bare-knuckle box for greasy fivers??

That said, I am saving for a deposit myself and intend to commit to 700/mth for 2012. And gimme a heads up if you know of anyone selling a tent

Hi :hello:

Myself and DH only have what I'd call 'average' paid jobs so we're far from rolling in it, but we tend to do lots of 'extra's' which we try and save towards big stuff like taking the kids on a nice family holiday etc. Things like that we wouldn't be able to afford out of our normal wages after bills and general living costs. For example, your saving commitment for £700/mth for 2012 is actually more then we have to live off after bills, from our main income, for a family of 4..! :eek: So in comparison it is only the same thing, we all have different circumstances We do alot of overtime at weekends and stuff which I try and save up so it will all go towards this challenge

xx

Humbert_Humbert

I've signed-up and am going to have a go at this but fully understand that it will be difficult.

Being single and paying a combined £1,000 per month for rent, Council Tax, utilities, food and running a car for work - the basic necessities of life - means I'm literally banking on a pay rise to get me anywhere close to £12,000 for 2012.

jamja

Can I join too please? I have been lurking over the past few years as I have cleared debts. Still got some left on my credit card which I may clear before the new year so hopefully starting the new year completely debt free. :j
Plan for 2012 is save money to put towards deposit on a new house. Will also be putting some money into overpaying mortgage. Should manage 12000 for the year so could you put this down as my target please?

I'm so happy that I will be changing my signature soon from debt reduction targets to saving targets!

My_Digital_Self

disaffected wrote: »

Without intending any cheek, what on earth does everyone do that saving £12k in a year is a realistic prospect!? I have a reasonable job with an above average (as far as I know) salary, but ordinary expenses like rental costs and other basics mean this just sounds huge! Do you all live in tents on the beach, get involved in spurious drug trials or otherwise bare-knuckle box for greasy fivers??

My DH has an above average salary, and our outgoings are average for the area we live in, so we do have approx. £1k/month left after the necessary outgoings... However we do like a certain quality of lifestyle so generally don't save this much. If/ when I do find work in my field my salary would also be above average, but we're both professionals with 10+ years experience (each) in specialized areas of our fields... which can sometimes feel like bare knuckle fighting! We also like camping holidays near beaches!

So basically income is above average, outgoings average but lifestyle tends to veer towards OS!

MyLastFiver

disaffected wrote: »

Without intending any cheek, what on earth does everyone do that saving £12k in a year is a realistic prospect!? I have a reasonable job with an above average (as far as I know) salary, but ordinary expenses like rental costs and other basics mean this just sounds huge! Do you all live in tents on the beach, get involved in spurious drug trials or otherwise bare-knuckle box for greasy fivers??

Monthly net salary £2770
Mortgage £420
Gas/Elec £100
Council tax £100
Wife's housekeeping £250
Tesco shop £140
Other bills £100 (internet, phone etc)
Annualized expenses £200
spending cash & petrol (I cycle to work part of the week) £200

= £1510

Amount left over for savings: £2770-£1510= £1260

However I never actually have this much left over at the end of the month, so some discipline is required, hence I'm doing this challenge. I'm saving in order to pay off the mortgage in the next four years (approx £70000 still owing)

rictus123

Buzzing to get going with this. Debts coming right down £6,000 next weekend. So i will have about £8,000 left...aiming for the end of year to clear it but obviously thats very ambitious.

Il be happy if i start saving by end Feb.

samhawkes

Hi count me in

im planning on saving 10k by the end of next year.

cant wait, im mid twenties and due to partly being reckless and partly issues that have come up i have nooooo savings at all.

its going to be a challange as im on a low wage (26.5k per year) but well see. hoping for 833.33 per month

tell_it_how_it_is

samhawkes wrote: »

its going to be a challange as im on a low wage (26.5k per year) but well see. hoping for 833.33 per month

That's a low wage??? :eek: I assume you must live in London then!!