The 'Save 12k in 2014' Thread!

Lomcevak

Declaring £1596.76 for November, a few hundred quid better than I hoped for at the start of the month so happy with that.

Stashed away another £800 this morning too to celebrate the start of December so just past £23k, there's £1100 scheduled to go out over the next ten days so now know i'll make my new £24k target

Moneymash

I realised through reading posts, that everyone declares at the end of the month. I last declared at the start of October for October. So I am declaring for November £230.25. I will update the spreadsheet.

Only one pay day left for this year. I will be nowhere near my target as I spent the first nine months of the challenge becoming debt-free but it's a start.

gazzer666

Moneymash wrote: »

I spent the first nine months of the challenge becoming debt-free but it's a start.

Just as good a feeling as saving

roundabouthere

A day later than normal for me. Reporting £2050 for November helped to a degree by a bonus month at work.

Takes me well past my 12K target so better than last year by a fair amount with still December to go.

TrustyOven

Ouch!

I posted my update in the 2015 thread by mistake. Deleted it now.

Saved £622.88 in Nov. Good luck everyone!

slowlyfading

Spreadsheet updated

Wilkos

Number 38 reporting in for November. I've managed to save £1,350 this month, which brings me to over £12,000 for the year. I also still have December's pay to come just before Christmas.

This means I've reached my target! :beer::j

I am so chuffed that I've done this, it feels so good to have savings. I'm definitely signing up for the 2015 Challenge. Well done to everyone saving something, everyone hitting their target, all those who are now mortgage-free and those getting engaged...

nat21luv

To kick off the month I have added £60 to the savings pot from ebay sales

Tara, can I ask, what saving accounts do you have or can you recommend any? Looking at savings accounts as I've only got low paying accounts.

Twiggy_34

Banked £60 today from my £2 savings (and other shrapnel from my coin jar). I'll save it to include in my update at the end of the month but it's nice to have a little headstart for the month!

Not only have I exceeded my original target of £2k this year (by £800 not including the estimated £360 to add for December) I'll also have around £800 in my rainy day account. Not counting this officially though as it will definitely be spent on car insurance, dental bills, a new phone sometime soon and, once I save enough, a new car. Just felt the need to acknowledge it as I have never had money set aside like this before. On top of the main savings this is quite an achievement for me!!

Thanks for the motivation everyone, this thread has definitely helped me achieve this! X

tara747

nat21luv wrote: »

To kick off the month I have added £60 to the savings pot from ebay sales

Tara, can I ask, what saving accounts do you have or can you recommend any? Looking at savings accounts as I've only got low paying accounts.

Well done on your eBay sales!

I have the following:

£40,000 in a 2-year Santander 123 ISA at 3.1% (maturing May 2015)
£21,000 in a Santander First Home Saver at 3% (was 5% originally)
£18,000 in a Santander 123 current account at 3%
£4,000 in 2x TSB Plus current accounts at 5%

Plus a few quid in a couple of other non-interest accounts just to keep them active.

The First Home Saver (FHS) rate is dropping to 1.5% on 14 January I'm still wondering what to do. I might put £15,000 of it in an ISA - but ISA rates are pitiful at the moment. You can get 2% or so - but that means locking money away for 4 years!!! No way.

I'll still be able to fund the FHS each month and get 1.5% on the whole balance - so it might work out just as well as putting £15,000 in an ISA and the rest earning 0% interest.

Decisions, decisions!



I recently opened a M&S current account as they were offering a £125 M&S gift card No interest paid, though, so I'll just take the gift card and not fund the account.

I've also opened a Clydesdale current account to get the £150 switching bonus and it also pays 2% on balances of up to £3,000, so I'll be using that as well. 2% is better than nothing if you've maxed out the higher interest accounts!

Switching bonuses are as good as interest, and don't usually require you to lock money away. Just an initial application, fulfil the terms of the switch offer, and bingo

I've done them all - Halifax, Santander, Co-operative, First Direct, Danske, you name it. I've easily earned over £1,000 from them all, and they're so simple!!!