The 'Save 12k in 2013' Thread!

quintwins

mintedmatty wrote: »

I think I have created a monster that is riddled with guilt everytime I spend money!!!!!

It is nice to have a balance tho, if i had £100 spare i would prob save £80 and keep £20 then shop around for bargains/ebay for some new clothes, i need new trainers and i should get my pay from last month this weekend at £100 that along with a cheque hubby has for £120 will be lodged i will take £20 and buy a pair of trainers while saving the rest (£200:T).

I have a standing order to my savings of £159 every monday no matter what the money goes in and i don't spend it then everything else is balanced out abit and the excess saved.

InsertWittyName

My Cash ISA matured today so ~£120 to add to the pot

Need to shop around and find a new rate as I've dropped from 3% to 1.95%.

The regular savers also went out a few days ago - another £600 there.

Looking like another good month.

mintedmatty

quintwins wrote: »

It is nice to have a balance tho, if i had £100 spare i would prob save £80 and keep £20 then shop around for bargains/ebay for some new clothes, i need new trainers and i should get my pay from last month this weekend at £100 that along with a cheque hubby has for £120 will be lodged i will take £20 and buy a pair of trainers while saving the rest (£200:T).

I have a standing order to my savings of £159 every monday no matter what the money goes in and i don't spend it then everything else is balanced out abit and the excess saved.

Agree, I just find myself going to the extreme this year, I admit I have a holiday booked and and a weekend in the Lake Dictrict at easter, but I have posted in other threads about a work/life balance yet currently this year I find myself saving pretty much every spare £!

@youngBusinessman - I'm 31, not so young anymore! Not sure where the time goes, bought my first property at 24. You seem to have your head screwed on which will get you along way!

MissE001

mintedmatty wrote: »

I'm 31, not so young anymore!

Hmm, youth is in the eye of the beholder :rotfl:

Just checking progress and looks like everyone is doing really well. I've had some e+bay sales as well some other bits and pieces saved....will update at the end of the month. I agree that saving is habit-forming....but definitely in a good way

alja

Sold another item (finally they paid!) on the bay of 'e' this evening, so that's £4 in for a shirt that was just lying around!

However, e-bay sales seem to have slowed lately, not had that many watchers/bids etc. waiting for the next free listings weekend!

Other than that, I've just been continuing with a couple of survey sites to boost things up

ccbrowning

OK, I sent an extra£300 to pay off my last debt and am now debt free!! :T So, not sure if we'll be able to save this month, but I think by the end of it we'll probably be able to save £500 or more and obviously from next month we'll be able to save large sums finally. Either way, it feels awesome to not have debt.

girlatplay

ccbrowning wrote: »

OK, I sent an extra£300 to pay off my last debt and am now debt free!! :T

Congratulations!!!:j:j:j


I just recieved my £125 incentive from F!rst D!rect for joining them! Into the pot it goes

Alex92_2

girlatplay wrote: »

Congratulations!!!:j:j:j


I just recieved my £125 incentive from F!rst D!rect for joining them! Into the pot it goes

Wish I read up more on that. I 'only' get £100.

girlatplay

Alex92 wrote: »

Wish I read up more on that. I 'only' get £100.

I think it was because I opened it before end January/February (can't remember now). It is back to £100 now. I didn't even give the extra £25 a thought it was the 8% savings rate on the regular saver that I was chasing!

Alex92_2

girlatplay wrote: »

I think it was because I opened it before end January/February (can't remember now). It is back to £100 now. I didn't even give the extra £25 a thought it was the 8% savings rate on the regular saver that I was chasing!

Yeah, I foolishly let the one slip out of my hands. Too much time spent trying to earn the money by hard work, and forgetting to spend time finding out best place to put it.

Now im trying to toss up the idea to as what is better.
1) Use 2 monthly savers (6% First Direct and 4% HSBC) and then pay leftover money into Santander 123 Account.
250+300 = £550 (monthly savers would require)
£140.08 = Monthly Interest
£550 - £140.08 = £409.92 (If I put interest into MS each month)
Saving £1500.
£409.92 (amount needed) - £409.92 (Monthly Savers) = £1090.08

So, would it still be worth it to open up 2 monthly savers, one at 6% (already open) and another new one at 4% and then deposit £1090.08 each month into a top savings account (e.g. Santander 123 3%), or would it be better to save £250 a month from not havnig 4% HSBC MS and deposit 1090.08 + 250 into the 3% account.

My mind is boggled at how is the bset way to work this out??:mad:

Surely
£250*12(months)/2(yearly average) = £1500

1) 2.40% (Best 3% account) of £1500 = £36 PA, £3 PCM

2) 3.20% (4% HSBC Monthly Saver) of £1500 = £48 PA, £4 PCM

3) 4.80% (6% First Direct Monthly Saver) of £1500 (for comparison, even though its £1800) = £72PA, £6 PCM

Quite a big difference between 2 and 3, but not a great deal of difference between 1 and 2. For the sack of £12, I really dont think I can be bothered to go through the effort of setting up a new bank account and have the faff of transferring all the money around for an extra £1 a month, despite the thread title.

Thoughts?