The 'Save 12k in 2013' Thread!

new_leaf_88

Hi Everyone

Can I declare please for April as I don't think I will be adding anything further this month. I have managed £411.24 bringing my total so far to £1545.34 :j:j:j I'm not quite on target but still delighted with my progress so far as every little helps. I have completed the form to have the spreadsheet updated.

Happy saving everyone.:T:T

Saving_NOW

Saved £150 this month......better than nothing I suppose, back on track next month. Had to buy new tent and camping gear so at least it's an investment of sorts lol

girlatplay

I have been overpaying my mortgage for the past few months and I just made a payment and sent them too much! Some of it was allocated to go in my savings I don't declare the mortgage overpayments on this thread for various reasons (nothing bad ) So I am now ready to declare April's total, albeit £66 short of what it would have been. Still, £66 less that I have to pay mortgage interest on so I shouldn't be too hard on myself.

April total = £410.61 made up of the following:

£384.31 saved from salary
£5 current account reward from BoS
£0.93 of interest
£8.08 shaved off my weekly tax credit (to round down to even number)
£7.29 shaved off two accounts (to round down to even number)
£5 from Swagbucks which ended up accidentally being used for cat food

Off to update front page

Peonie

Anagran wrote: »

Hi everyone,

I have been reading this and am inspired! My partner and I are trying to save up for the future and also I am hoping to save up to repay my student loan and I was looking for some advice from you savers. I am in the situation where I have a large student loan from years ago, which I have only repaid a very small amount of through my wages.

I am currently under the threshold to repay and probably will be for the next few years anyway. There is a good chance my loan will be written off eventually. BUT I want to pay it back. I have started a savings account for this as I know it is better to put the money in here rather than make voluntary repayments as it will earn more interest.

Anyway, really was wondering if anyone in a similarish situation could tell me - what is a fair amount for me to put away to repay the loan in comparison to how much I contribute towards joint savings with my partner? We don't really have my/Your money, everything is joint, but I feel this is my debt only that I should repay, but don't think it is fair that all money I can save goes to this as then only my partner is saving for 'us'. Any ideas?

Thanks A

Hi A,

I paid off my student loan but looking back I should have looked at the different interest rates first. Since finding MSE I made a list of all my accounts and bills with interest rates. Then looked to see if I could get a better rate on any of them. Finally, I put my money into whatever is the highest rate.

As you don't have separate accounts I don't know how you could pay off the loan without your OH contributing to it.

Good luck.

lula_moneybaggins

Just popping on to declare April's savings of...tadah!...£1500. Had a quiet month so managed to put a bit more away than usual this month.

Interested to hear if anyone else has thoughts on Anagran's Student Loan query. I must admit that like Masomnia they're not getting any more money out of me than the flat payments they take out of my salary each month! If I had a fab high-powered, big salaried job I might consider settling my loan, but at this stage of my life I need that money to live on as well as save for a deposit on a house. I also think that if I were to pay more off my student loan, I would spend less money generally, and surely putting money back into the economy is the best way to repay the investment? Plus, when I took the loan, there wasn't supposed to be interest on it, but they soon went back on that! Now, despite the fact that I have been repaying it for 7 years, my loan amount is still going up because of the interest! It might sound strange, but I don't even consider my Student Loan to be a *real debt* as it's not one that appears on my credit report. Credit cards, loans etc - they're real debt to me, and that's the kind of debt I don't want to get back into! That's probably not the best way to look at it, right?!

cydney65

I am declaring savings of £264.19 for April. I was hoping to save more than last month but to be honest April has been a terrible month and I just want to see the back of it.

But Star Trek is out next week yay. Can't wait to see that and also I have been awarded a badge by MSE Badger!

Will now update the spreadsheet

Thriftyfashionista

Declaring totals for March and April - following the car repairs only £163.53 went into the pot in April, but managed a total of £1014.98 in March so not too far off track! Sig updated.

RevolvingDoor

Is it too late to join up? I have been overpaying on our mortgage but I'm going to switch to saving instead.

This is probably a stupid question but is it better to open two ISAs or just use one savings account?

JustinCredibleGillespie

Congratulations to Amy! I've just seen the good news

JCG

xx

eviekins

I've completely neglected this thread - but I've been saving away and updating my sig even though I haven't posted on here!
Over £5500 so far, which means I'm currently on target for the 12k
Well done to everyone on their savings so far!