Saving £1k a month every month, can I do it.

kit77

Well as the title says my aim for this year is to save £1k a month. This is to add to the money I already have saved so OH and I can buy a house.

On paper I should be able to do this but in reality, well I never have. So this year I am determined to do it. We are lucky in that we only really need OH wages in order to survive but my wages of just over £1k a month get eaten up with one thing or another

I have a S/O set up to move £250 into our savings account on the 1st of the month. At the end of the month I aim to move £750 into the savings account.

I have yet to check all our spending this month but I think I should be able to do this :j therfore for this month I have saved the £1k.

My plan has been to take money out for Food, Petrol and to cover the Gas/Elec (on a pre paid meter) also to have £50 in an envelope for miscellaneous (SP) things. Should mean we do not need to use the debit cards and that the only money in the account should be for planned bills.

So if anyone has any ideas, tips or wants to join me please feel free to pop in.

moneypuddle

Hi Kit. You might find it easier to manage if you move the full £1k over at the start of the month. Less temptation?

kit77

moneypudle you would think that would be the easiest solution but I have tried this before but I then have to dip in and move money out later on in the month:cool:

So I am trying a different tact. Maybe i am just hopeless at saving.

I have tried a spending diary - failed:(
I have an app on my phone to help me record my spending - failed:(

New thing I am trying this month is making a note in my diary everyday for the month to check IB and I tick it or cross it depending if I checked it and I have to say so far this month I have checked it almost every day (before had I would go 2 weeks without checking)

As I said on paper and using Martins budget tool it is doable.

kit77

Actually I am just thinking about this as I make the kids their breakfast. We have in the past been very bad at getting takeaways and I am very bad at nipping out at lunch time to get lunch rather than making it at home but surley that wouldn't add up to £1k:eek:

Then of course there are the friday/sat night trips to the garage to get crisps and juice.

I have to say this month we haven't done this (well no need to still munching through Xmas chocolates).