Comfy cushion - a savings diary

lilian1977

Hello all

I have decided to start a savings diary as posting on here worked wonders when I was trying to become debt free (3 years and counting now), however since then I have struggled to save any money for myself (although I am doing well with other accounts such as holidays, annual costs, house emergency account etc).

I would ideally like to get a cushion of 3 months savings behind me so as to ease the worry of redundancy or illness (nothing looming at the moment but you just never know). I work part time so this would be a total of £2800 - lets say £3000 to make it a nice round number!

I plan to do this through Ebay sales, extra work when possible and generally just saving where I can. I currently only have a personal savings balance of £120. I am giving myself until 31.12.2014 in which to save this amount - £164 a month, which currently seems a massive amount but I'm going to try my hardest.

Does anyone else want to join me? I'm always reading that it's important to have this cushion so it would be great to try and gee each other on with this.

Good luck to me, and all that follow!

hollieinbloom

good luck! I am struggling to save too. We seem to live within our means but we desperately want to save for a car. Hopefully seeing your success will give me the motivation! xx

lilian1977

Hi Hollie - thanks for the comment! Feel free to post on here to let me know how you're doing

lotti379

Good luck! Well done for continuing the MSE ways, I'll be joining you once DF!

lilian1977

Thanks lotti! Looks like you're doing really well with your DF plan, not too much to go now xx

lilian1977

Just to add to this - I have £250 to pay off a balance transfer CC so will be hitting this first then starting saving properly. So my savings journey may start slow but it will get better!

I know I'm better off paying the CC balance over the life of the 0% but I'd rather just get it out of the way, especially with savings interest rates so low.

Happybeingme

Good luck! With all the enthusiasm and support on here I'm sure you'll manage it

I'd love to save but I need to clear debts first

big_sved

Good luck, I am just starting my DFW campaign. high aspirations so will see how it goes!

lilian1977

Thanks big_sved and happybeingme - good luck with your DFW journeys and I'm sure to bump into you on NSKs thread again soon!

WantToBeSE

Hi Lilian,
i am on board, and would love to join you if that's OK.

I have just recently gone Self-Employed after being unemployed for 12 months, and really need to save up money for a car (approx £2000-incase mine breaks down, i cant get to work without it!) and 3 months wages (i also work PT, so 3 months wages will be £2000), so £5000 in all.

I will be saving approx £150-£200 a month, but it will be variable due to variable hours that being Self-Employed entails!

Looking forward to getting started I normally receive money from my business work every Friday, so that'll be the day that i can put money away

lilian1977

Great - welcome WantToBeSE! Good luck with your savings and make sure you check in on a Friday to let me know how you're doing!