The "Save 12k in 2015' Thread!

Wentthedaywell?

Sanne wrote: »

Can I ask what methods you've got to keep track of your savings? I'm using an iPad app (Daily Budget) to track all expenses and to see at the end of the month how much I've got left over. That way I track spendings when they occurred (e.g. on my credit card) rather than when they're paid off (usually the next month, apart from the 0% card I've currently got).

I find my savings are easy to keep tabs on (it's usually a set amount every month), It's the expenditure that's harder, so I concentrate my efforts on this.

Every payday I move my monthly living budget into a dedicated account and try to live on that. Separate (saving account) "pots" get monthly money to cover large annual spends - car, house maintenance, insurance, subscriptions, holidays etc. This is a single account, but I have a spreadsheet on which this money is divvied out under the different headings. The rest is saved straight away.

Every evening I put my spends on another spreadsheet under various headings - food, alcohol (!), large household, petrol, travel, health etc. I can keep tabs on where all my money is going. It sounds a bit of a faff, but takes seconds - I round up and approximate.

This way I know what I've got coming in, what I'm spending it on / how much is left, and when my spikes of expenditure will be. If I overspend one month, I rein myself in the next.

Having written that, I realise I'm sounding rather OCD with all my spreadsheets (I've got six!). But this is the only place I can confess to it! :D

BritishBibliophile

Paid last night so £102.50 saved to kick-start 2015!

nat21luv

Happy New Year everybody!

This will be my 3rd year on the thread and it is such a motivational tool to help savings, without this thread im sure I would have messed up a few times! Thank you SlowlyFading for your dedication, hugely appreciated xx

Today will be spent making new spreadsheets and recovering from last night

enthusiasticsaver

I am looking forward to seeing my first payment of £250 going into an investment fund on 4th January as my first foray into stocks and shares. I am aiming for a target of £1000 per month but sometimes it may be £500 per month and sometimes £2000 depending on OH's overtime and outgoings on the house, holidays and the car etc.


I use a spending tracker app on my phone to monitor income and expenditure and have set up direct debit of £250 per month to go to Fidelity Funds for the Vanguard Lifestrategy 60 fund and will add to it at the end of each month just before payday depending on how much is left. As my savings are going into investments I am not going to be touching it but we have other funds in current accounts and cash isas which we will use for emergencies, large bills, house projects and holidays. I am hoping this will work but am wary of committing more than £250 per month at this stage so we could have just £3000 at the end of the year instead of my hoped for £12k although hopefully not.

enthusiasticsaver

Wentthedaywell? wrote: »

I find my savings are easy to keep tabs on (it's usually a set amount every month), It's the expenditure that's harder, so I concentrate my efforts on this.

Every payday I move my monthly living budget into a dedicated account and try to live on that. Separate (saving account) "pots" get monthly money to cover large annual spends - car, house maintenance, insurance, subscriptions, holidays etc. This is a single account, but I have a spreadsheet on which this money is divvied out under the different headings. The rest is saved straight away.

Every evening I put my spends on another spreadsheet under various headings - food, alcohol (!), large household, petrol, travel, health etc. I can keep tabs on where all my money is going. It sounds a bit of a faff, but takes seconds - I round up and approximate.

This way I know what I've got coming in, what I'm spending it on / how much is left, and when my spikes of expenditure will be. If I overspend one month, I rein myself in the next.

Having written that, I realise I'm sounding rather OCD with all my spreadsheets (I've got six!). But this is the only place I can confess to it! :D

Sounds like a really good idea. I have set up a budget spreadsheet today allocating a certain amount of money to food, utilities, holidays, travel and entertainment and so on and will see if that works. Most of our easily accessible money is in the Santander 123 current account which pays 3% interest above £3k and I don't want to divvy up into separate pots to keep the high interest rate so will see how my budget spreadsheet works. Now if I could just get my OH onboard with budgeting and saving it would make life so much easier

Gem-gem

I am starting the year with £78.00
I will transfer more over when I get paid.
I have 3 types of savings - short term - pays for things around the house, Christmas and birthday. Medium term - car and holidays. Finally, long term saving - to fund early retirement.
Money posted on here is for medium and long term saving.

MiddyMum

Hello, can you put me down for £8000 please.

slowlyfading

And we're off!

Spreadsheet and front page updated

Please can everyone make a note of their challenger number and put it in your sig? Thanks

TheGlobe

Challenger number noted and now in my sig'.

£20.47 towards my target so far.

Starting_Again_2

Wages paid early this week so just paid first amount into savings account - £275. I get paid weekly so I'll update the total saved at the end of each month.

I've got my budgets and spreadsheets all worked out - everything I spend must be in cash, but anything left over each week will go into a cash jar until there's enough to bank!