The 'Save 12k in 2014' Thread!

Skittles26

Adding £260 for the first part of February. I get paid weekly, so it's nice to feel like I'm constantly adding to the pot although in smaller numbers. I've set up some premium bonds which although I know don't make the most sense savings wise, it's nice having the money somewhere safe out of my spending eye line. I have a fear in general of bank accounts and interest and direct debits, cash back, overdrafts etc because I've been stung for fees in the past so try to keep things very simple and just focus on building up cash.

Does anyone else think of their savings as a percentage of their income? It's amazing hearing of people saving 4k in January, but as someone on part time minimum wage work it's a big leap! It would be interesting to know what percentage people tend to save.

Niv

Luckily the garden wall cost has not yet come out so I have managed a respectable £791 in January! Its a shame I will be posting a negative figure come next month when I have to pay for the wall booooo - But if I can be break even by March then my target should still be doable.

Niv

crennes

Does anyone else think that being paid weekly helps with saving? After being unemployed i was working for an agency whom pay weekly. I realised i was more focused and saved move by doing this. Does anyone else agree?

Shane

TrustyOven

crennes wrote: »

Does anyone else think that being paid weekly helps with saving? After being unemployed i was working for an agency whom pay weekly. I realised i was more focused and saved move by doing this. Does anyone else agree?

Shane

My father gets paid weekly. My parents don't seem to be able to budget that well or save. They have complained in the past that direct debits go out at different times of the month and this makes it hard to budget.

I get paid monthly, and I manage to save and do budgeting. Direct debits go out at different times of the month but it doesn't matter when because the whole budget is monthly.

It's quite possible that my ability to save and their ability not to, might have nothing to do with pay period. :undecided

tara747

crennes wrote: »

Does anyone else think that being paid weekly helps with saving? After being unemployed i was working for an agency whom pay weekly. I realised i was more focused and saved move by doing this. Does anyone else agree?

Shane

No, I wouldn't like to be paid weekly. I like being paid monthly as all my fixed outgoings are monthly.

sparrer

crennes wrote: »

Does anyone else think that being paid weekly helps with saving? After being unemployed i was working for an agency whom pay weekly. I realised i was more focused and saved move by doing this. Does anyone else agree?

Shane

Since changing jobs both my DD and S-i-L are now paid weekly, they seem to manage well and are putting a little away each week. When they were paid monthly they 'appeared' to have a large sum of money to play with every month but in truth the month always ran out before the money did. On the other hand I get my pension monthly and manage to put a small amount away for car emergencies, weekends away etc.

Having said which I have a problem with spending - not on myself but on my children and grandchildren. I love treating them and wouldn't dream of adding up how much I spend on them even though it's not really helping my NZ fund. It will be my holiday of a lifetime and am so looking forward to it but can't seem to find a good balance. Any ideas would be helpful but please don't suggest I stop treating my lovely family

bigbadbear

tara747 wrote: »

I'm late declaring for January, sorry! Well, for the first time ever, I spent more than I earned as I was on holiday :beer:

So my January (and year to date) total is -£298, oops! My new total is £73,289. Better get back into disciplined habits for February!!!!

Tara, I don't think you have anything to worry about after managing to save £73k I would say thats pretty good going to say the least! I have read a couple of your posts on this forum and it has really inspired me to start saving and to stop wasting my money month after month.

Nichelette

I used to get paid weekly which I actually preferred. I like the satisfaction I get from saving - it was nice to see the figure going up weekly and it encouraged me to save more. I find it harder now I only see that happen once a month though obviously I'm able to put more away...

115K

tara747 wrote: »

So my January (and year to date) total is -£298, oops! My new total is £73,289.

Wowee! Well done.:)

YoungBusinessman

Tara I think you are one that can take a wee negitive to have a holiday....I'm in Paris and still can't help myself but come on mse forums, love them!! I think I'm going to be down from £1,260 to maybe £1,000 at end of February as a result of holiday but I'm sure when weather starts getting better in march I can crack on saving 4 figure a month! To be honest saving £10k in a year would make me delighted, nevermind my £15k target. Iv got about 45 years at least until state pension age which probably won't even exist by the time I'm there if I make it, trying not to get too caught up in saving all my money too early. I have already done that so I could get my house and missed out on a lot of decent football matches, 21sts, music festivals etc I otherwise would have went to if I wasn't so addicted to saving!

May and July will be my 2 best months, last year was over £2k each of them months put away, hope for a repeat of that to make up for this slow month!!