The 'Save £12k in 2012' thread!

ILoveSaving

And she's off!

Had a £50 Christmas bonus, which is a first where I work! Also banked £35 that I managed to put away over Christmas, so I've updated my signature to reflect this. Yeah!

The brain has to kick into action now to see how I can add more to the pot, before my regular payment is transfered into my ISA from my wages paid later in the month, which isn't enough if I am aiming to stay on track and hit 5k this year.

Welcome to all the newbies.

DP1985

Well done to everyone who has already started off the year making a dent into their savings total and good luck to everyone else!

Counted up my savings yesterday so I know my starting point for the challenge now.

Think most of my savings will come from salary than anything else so will provide an update at the end of the month.

kaostheory

Added 200 to the pot by selling some junk from the garage.

Every little counts

Has anyone got any smart ideas for generating extra savings?

trixie4

kaostheory wrote: »

ILoveSaving wrote: »

ILoveSaving,

That makes perfect sense financially, however, consider this.

1. I need a 3 bedroom house.
2. How far away from london I would need to be to see prices like that.
3. How many hours I would have to spend travelling to/from work and not spending that time with my family.

In my case I have enough disposable income (even after my atrocious rent) , my issue is changing bad habits of spending it all rather than cutting back.

Thanks for your reply..

Rhys

Good luck! That's an awful lot to be spending every month, I've heard what London prices can be like! I'm in the same boat - I resent handing over cash which is going towards something temporary. Doing this challenge so that I can build up a deposit and get on the property ladder asap!

Trixie x

trixie4

I'm trying to assess how much more I can move to my ISA this month. £200 is doable to make it up to the £500 per month I need to reach my target, I'll move it just before payday so it can be included in the January figures. However, I have a rule for myself to keep £1k in my current account for car insurance/MOT/repairs and all this will be done in April so my saving will take a big hit then. I'm also hoping to move house which will cost a lot to do in itself and the next rent is likely to be more expensive.

On the plus side, my salary is going from £18k to £26k halfway through this month so I'll have about £400 extra disposable income a month (£600 total), so hoping I can make my target if I supplement it all with a lot of ebaying/frugal living/not choosing a place with rent that's a bit steep!

T

ro2778

I'd ike to join with a target of 5k because I don't start work until August and have quite a lot of student debt.

That said I have so far invested £30 in Zopa as an experiment.

snowgo

Hi - can i join please. I'm early retired, although returned to part time work last year. My job finishes at the end of this month so reduced income then. But I need to get a better handle on my expenditure and also I've a lot of things I can sell on ebay. So can you put me down for £3600 target for new savings.

nikki2804

Managed to ge my tenancy signed off (eventually) and I find out how much of my deposit I will get back on Monday. That will be added to the pot, I'm not expecting the full whack back (although after all the hassle the LA has given me they should!!) but a couple hundred would be nice.

Still awaiting a paypal decision that was due on Dec 31st. :mad:

Might start listing on Ebay later.

RetiredOne

Don't try to save too much to the point of missing out on life and some of its lovely pleasures.

kaostheory

RetiredOne wrote: »

Don't try to save too much to the point of missing out on life and some of its lovely pleasures.

Too true, however my issue the the complete converse ;-)

I think there is a lot to be said for spending a small amount of time missing out on the "lovely pleasures" if it provides a longer term of stability and ergo increased enjoyment of lives pleasures.