The "Save 12k in 2015' Thread!

mintedmatty

Month 1 and managed to save £1,550 - We haven't much planned this year apart from possibly a new kitchen so its a real opportunity to reduce the mortgage balances and considerably increase our savings! Great start to the year everyone!

I may have to sneak the odd holiday in though somewhere though!

Gilbo_Baggins

Well 46 here reporting in for January.......

Although I have "saved" about £1400 this month I didn't envisage buying a new build flat this month. So with the flat deposit with the building company and the initial payment to the solicitors my actual saved amount is £200!

I think I will have to adjust my total for this year, but as yet I'm not sure what. Thinking £3k over the year is achievable. But once all is settled and I'm in my new place I will then see what is left over for savings.

boglehead

Twiggy_34 wrote: »

There's a group on here for paying off as much debt as you can in the year which might work well for motivation alongside this group for saving. I used it for 2 years before becoming debt free

There's also a Mortgage Free in Three (years) group which you could join (although this is the last of the 3 years for the group I'm in) too if it would help. You don't have to be clearing your mortgage in that period, just a goal to reduce it by, e.g. I'm making overpayments on mine and set a goal to reduce by £8k in my first 3 years. I will only have had a mortgage for 3 years later this year, so I wasn't sure what to aim for and that seemed a safe bet and I'm currently set to overshoot my goal.

Good point will look into that, thanks. As soon as i cleared that loan (15k left on it after what i just paid), I am going to overpay my mtg by 15k a year as well.

I could pay more off, but 75% of my networth is tied in my home equity, so i want to diversify a bit and save/invest on the side as well. And my mtg rate is at 1.9% so, the incentive are not as high as if the rate was higher

nat21luv

This has been just the worst month for me; stupid amount of birthdays including DS and my car broke down(on DS' bday!) The car cost me £145 in total (£80 upgrade cost as my car wasnt 1/4 mile away from home ontop of the £35 I paid for the year!)

Feeling demotivated and hadnt been on MSE for nearly 2 weeks- thats a record for me! I've just finished catching up with the thread and feeling fired up again! Feb will be better, it will

cheexy

£722 transferred for the month of February. Off to update form

edinburgher

Feeling demotivated and hadnt been on MSE for nearly 2 weeks- thats a record for me!

Chin up, things can only get better

Do you budget for car repairs? I lowballed for the first year we had a car, had to add something like 20%/mth on to the new budget spreadsheet :eek:

My favourite from last year was two new tyres, an MOT and service all within a week.

colinjd

January is done - £1331.53 / £12,000 (11.1%)

Not sure how I managed that, though work commitments means my week-night social life is non-existent these days!

Goodbye January, I'd like to say you'll be missed...but you won't.

nat21luv

Yes, I budget for car repairs but the kitty was cleared out by replacing 4 tyres in december! Its hasnt put me in debt or anything, just wiped out this months savings.

yorpington

Another £300, so £600 total for this month. I've never saved a penny in January before! Next month should be a bumper month but really pleased with this for a start

s1ipmatt

I just entered my January amount, not a lot at £160 such a long month. However I didn't know that the spread sheet was updated manually by the original poster for each persons updates. I assumed that when each person enters there amount saved, and the system would automatically update the spread sheet.
Wow that's a lot of work but thank you.