The "Save 12k in 2015' Thread!

Sanne

Not quite ready to declare yet but should come in at around £1250 - £1280 this month.

Really pleased with that as I graduated 200 miles away (mature student via distance learning; would have loved to be able to save that money when I was a first-time uni student years ago!), stayed at a family member for free but ate out every lunch and dinner, I took gifts, bought some photographer pics and we visited the National Space Centre... Though the tickets & gown hire came out of December last year.

Next month should hopefully be around the same as no council tax but starting my company pension with the new employer now I'm eligible.

Also got just over £100 in Amazon vouchers this month through surveys, don't count this here though as it'll just increase my savings later this year when I use them for gifts or a treat

enthusiasticsaver

Just declared £1000 for January which is my monthly target so happy with that considering I had to pay out for tree lopping and son in laws 30th birthday. According to my spending tracker monthly income was £3377, essential spending was £843, discretionary spend was £845, savings were £1031 (£1000 to stocks and shares and £31 to xmas 2015 savings pot) and £658 is being left in Santander 123 earning 3% as buffer for holidays etc.


Shouldn't have to buy anything now except milk and bread until my next weekly shop day which is Monday 2nd February. Hope everyone else has met their target and if not, well there is always next month!

boglehead

Do debt repayment counts as "savings" in the tracker? or is that tracker only covering proper savings & investing?

Anyway - I just paid down £15,000 of a home improvement loan (rate of 5.75%...!)... so I probably won't be saving much in February as a result.

I am trying to get this horrendously expensive loan off asap

mrssjs

My total for January stands at £131 not a lot! But a start

copperjar

I think I'm declaring at a nice round (not!) £637.78 this month. Still got a bit of spare cash in the current account, but I think that's going into the Xmas 2015 pot!

I'm pleased with that for Jan. Mainly made up of backpay from a payrise, savings from weekly spends/food etc and some ebay sales.

lalman

boglehead wrote: »

Do debt repayment counts as "savings" in the tracker? or is that tracker only covering proper savings & investing?

Anyway - I just paid down £15,000 of a home improvement loan (rate of 5.75%...!)... so I probably won't be saving much in February as a result.

I am trying to get this horrendously expensive loan off asap

I can't any 'net' increases in my asset base. So if you are paying 15k to pay off a loan I would class that as a positive as you have increased your net asset position.

I think its upto the individual but if you didn't do that, and instead put it into your savings account it would create the wrong incentives....

I have recently taken out a 15k loan and as I pay that off I will be counting the principal aspect off as a increase in net assets and expensing the interest component of the payment (if that makes sense).

enthusiasticsaver

boglehead wrote: »

Do debt repayment counts as "savings" in the tracker? or is that tracker only covering proper savings & investing?

Anyway - I just paid down £15,000 of a home improvement loan (rate of 5.75%...!)... so I probably won't be saving much in February as a result.

I am trying to get this horrendously expensive loan off asap

I would count it as a saving as it would make no sense to leave that sort of money in a savings account while paying 5.75% interest as you are unlikely to earn that in savings interest. That would not be very MSE at all. Congratulations on reducing your loan by that amount. :beer:

Mc_Marty

No#184 - Mc_Marty declaring £2803 for Jan.

jacci45

Forgot my son owed me £40.00 so now a total of 873! I think I am no 143.

edinburgher

Do debt repayment counts as "savings" in the tracker? or is that tracker only covering proper savings & investing?

They have the same net effect for you (more money), but as you're repaying a negative, I wouldn't count them

Totally forgot about Council Tax free months - £145 added to S&S ISA