The 'Save 12k in 2013' Thread!

fozziebeartoo

Brilliant savings on here - well done everyone!! :T

I just read this thread in awe

Regarding cydney65's post.......

Can anyone tell me how I can set up savings as a DD?

I can do it (transfer monies from A to as a SO, but as a DD.....it has me stumped :o:o

I have a Santander123 and am looking to set up the 2 x DD's, but if I can arrange to do so AND increase my savings a wee bit, that would be great.

Many thanks for any tips!

cydney65 wrote: »

Just had a look at the totals on the spreadsheet...£472,000 saved this year so far by everyone! That is just fantastic and I think we all deserve a pat on the back :T

Have been jiggling my money around again and opened up two more savings accounts to act as direct debits on my Santander current account. Will be saving another £10 into each one every month, which should add to my savings total without me really noticing it. I'm looking forward to the 15th when I get paid and then all my money does the bank account shuffle and moves around my current accounts. Have managed £106 so far this month but looking for another £180 if possible. First Direct may actually give me the £125 for switching this month, which would boost savings a lot.

OH has finally asked me to check all her income and outgoings, so I did that earlier. I found out that in April we spent £428 on groceries :eek: She's never been terribly good at cutting down when it comes to food but it really shocked her to see it in black and white so to speak. It was bad enough when I persuaded her last week to part with her beloved cheese. I gave it to one of the neighbours as it was just sitting in the fridge doing nothing...not that packets of cheese actually do anything, but you get my drift!

So, we have an economy drive in place for the rest of this month. I shall be taking her down to Aldi tomorrow to stock up on essentials for under £30. I may have to take some valium and gird my loins for that particular experience! Her temper isn't particularly even when she's on a budget.

Good luck everyone and keep it up!

lbnblbnb

I think the answer to this question might be how long is a piece of string but...
If you are building an emergency fund, how much are you planning on having in it?
I am finding it harder and harder to motivate myself to fill my emergency fund. It is at nearly £7000 now. I feel like I want to get on with the longer term savings now.

InsertWittyName

3-6 months net income, depending on how long you think it would take you to find a new job.

Then around £1k separately for those 'instant' emergencies such as new appliance, car repairs etc.

cydney65

fozziebeartoo wrote: »

Can anyone tell me how I can set up savings as a DD?

I can do it (transfer monies from A to as a SO, but as a DD.....it has me stumped :o:o

I have a Santander123 and am looking to set up the 2 x DD's, but if I can arrange to do so AND increase my savings a wee bit, that would be great.

Many thanks for any tips!

Hi fozziebeartoo, here is the thread started by the very wonderful Innovate which lists those accounts which take DD.

https://forums.moneysavingexpert.com/discussion/4168667

I have started accounts with Newcastle BS and Tesco. When you go through the application process they ask you if you want to put money in via DD and you set it up straight away. You may have to wait a few days before the money is taken out, but it's pretty straight forward. HTH

Girlatplay, what Nat21luv said and so much better than I could have.

X

youngsaver1995

lbnblbnb wrote: »

I think the answer to this question might be how long is a piece of string but...
If you are building an emergency fund, how much are you planning on having in it?
I am finding it harder and harder to motivate myself to fill my emergency fund. It is at nearly £7000 now. I feel like I want to get on with the longer term savings now.

Being only 17 I don't have an emergency fund, I just have savings, but once I start working full time, I plan to have at least 6 months of income in an emergency fund. This should be plenty of funds in case of redundancy etc to 'survive' while finding another job.

Edit: What IWT said .

girlatplay

nat21luv wrote: »

Don't worry about the £80 girlatplay, write it off, draw a line and start again. Just put it down as a treat(even if it wasn't) store how it feels to spend money impulsively in a box locked away in your memory and when youre reaching for the cc, bring out the box, open it up and embrace the feeling. It'll make you put it straight back in your purse, walk out the shop and will leave you feeling very empowered.

Thanks Nat and Cydney. I didn't NEED the £15 shoes or the £7.70 coffee for LMG, mum and me in Costa the same day but the rest of the £80 was stuff needed. I keep all my credit card statements and I go through them thoroughly, I am not wasteful and I usually only buy what I need. I'm just so sick of saying no all the time. I was in debt for so long and now I am out of it, all the pennies go to savings. I am still saying no! I haven't had new stuff for years, I look loads but just end up putting it back. I don't do this all the time so I don't need to worry, I think I just needed to get it off my chest.

Anyway, I am back on track now and looking forward to paying over my 74p tomorrow :cool: Oh and I give myself pocket money for small treats so a slapped wrist is what I need for not using that!

cydney65

Know where you're coming from girlatplay, I was paying back my debt for 4 years, which is not long when you look at some others, but I still get a bit sick of saying no to myself, to my OH and to my girls. Last month...oh the temptation to buy an iPad was so great! I love little gadgets and computers are a weakness. OH has a weakness for televisions but let's not get into that!!! But heck, why not have a coffee or two and a new pair of shoes? Ok it probably should have come out of the spends budget but you realise that, so it's alright

Someone tell me to get on with my studying...please? Ok I'll have a fag then I'll do it and I won't keep checking my bank account, not that I'm obsessed or anything
X

matttye

InsertWittyName wrote: »

3-6 months net income, depending on how long you think it would take you to find a new job.

Then around £1k separately for those 'instant' emergencies such as new appliance, car repairs etc.

Agreed, but I'd say 3-6 months of monthly expenses rather than 3-6 months income.

Roughly 69% of my net income is going into savings each month ATM so I wouldn't need anywhere near 3-6 months net income.

InsertWittyName

matttye wrote: »

Agreed, but I'd say 3-6 months of monthly expenses rather than 3-6 months income.

Roughly 69% of my net income is going into savings each month ATM so I wouldn't need anywhere near 3-6 months net income.

Very good point

fozziebeartoo

Brilliant, thanks so much!!

:beer:

cydney65 wrote: »

Hi fozziebeartoo, here is the thread started by the very wonderful Innovate which lists those accounts which take DD.

https://forums.moneysavingexpert.com/discussion/4168667

I have started accounts with Newcastle BS and Tesco. When you go through the application process they ask you if you want to put money in via DD and you set it up straight away. You may have to wait a few days before the money is taken out, but it's pretty straight forward. HTH

Girlatplay, what Nat21luv said and so much better than I could have.

X