The "Save 12k in 2016" Thread!

sofarbehind

Seafoam wrote: »

Really, really want my first pair of designer shoes but it's going to cost me £285:eek:

Someone save me_pale_

Bad Seafoam!!

No you don't want designer shoes, you want a house. I bought some designer shoes from ebay a few years ago for £80. I've worn them once and the gave me blisters. I need to sell them on.

If you have to do it track them down on ebay or promise yourself them after you're in your new home.

Westie983

Ill let these ones, ^^ save you, I will just hold your hand and be your accompanist haha...

Seriously, just think of how much more rewarding it will be having that money in your savings pot :-)

RichyRich

I have an answer for how I didn't know how I'd done it last month - I hadn't! I had made a calculation error in erroneously accounting for £2,000 in my TSB Regular Savings Account when in fact I only had £1,000. This makes my calculations a bit skew wiff. Declaring for May.

My current balance across all my accounts is now £12,702.50. I have not been able to save much in March because we are going on holiday and I've chucked some cash into my Metro Bank account for spending while we're away.

My *actual* (not reported) balance last month was £12,105.07. With a starting balance of £5,027.78 that means last month my year-to-date savings balance was £7,077.29. My year-to-date savings balance this month is £7,674.72 and my May savings amount is £597.43.

Still to save: £4,325.28.

Westie983

RichyRich wrote: »

I have an answer for how I didn't know how I'd done it last month - I hadn't! I had made a calculation error in erroneously accounting for £2,000 in my TSB Regular Savings Account when in fact I only had £1,000. This makes my calculations a bit skew wiff. Declaring for May.

My current balance across all my accounts is now £12,702.50. I have not been able to save much in March because we are going on holiday and I've chucked some cash into my Metro Bank account for spending while we're away.

My *actual* (not reported) balance last month was £12,105.07. With a starting balance of £5,027.78 that means last month my year-to-date savings balance was £7,077.29. My year-to-date savings balance this month is £7,674.72 and my May savings amount is £597.43.

Still to save: £4,325.28.

Still some impressive savings though :-)

RichyRich

Thank you

My savings are skewed towards the beginning of the year because I get paid my annual bonus in February.

I think I will take back what I have said before about not needing any spreadsheets. A very simple one would avoid these simple arithmetic errors.:rotfl:

jacci45

No 24 reporting, now on £4953.22, saved £1110.86 in May. Have updated.
Good luck all!

Seafoam

Wentthedaywell? wrote: »

DON'T DO IT SEAFOAM! See my previous post about all those cumulative spends - been there, done that:o

Will a £300 pair of shoes give you 10 times the pleasure/wear of a 30 quid pair? If so, buy them, if you've already saved this month, paid pension, got an emergency fund etc. We all need our treats, but only if we really, really want them and it's not just silly spending and they'll sit in the bottom of the wardrobe.

I honestly think it's some kind of genetic condition. Even my mother likes to hurriedly hand over the money and won't be able to locate her purchase a week later. She was ready to pay for someone else's shopping at the supermarket. Cashier had to warn her it's not her shopping:o

They do look 100x better than any shoe I currently own but hey ho.

sofarbehind wrote: »

Bad Seafoam!!

No you don't want designer shoes, you want a house. I bought some designer shoes from ebay a few years ago for £80. I've worn them once and the gave me blisters. I need to sell them on.

If you have to do it track them down on ebay or promise yourself them after you're in your new home.

I'm going to take your advice and keep an eye out on ebay. I've recently started selling on there too:cheesy:

Westie983 wrote: »

Ill let these ones, ^^ save you, I will just hold your hand and be your accompanist haha...

Seriously, just think of how much more rewarding it will be having that money in your savings pot :-)

Very true, thank you! I'm now £285 richer:cool2:

Thanks again guys, they're OUT OF STOCK now:T

slowlyfading

Spreadsheet updated

Twiggy_34

slowlyfading wrote: »

Spreadsheet updated

I just managed to slip my May update in before you updated the spreadsheet, so that was good timing

I think I'm about 3 updates away from achieving my years target. I won't be exceeding it as I'm hoping to finally update my car some time in 2017, only just over 2 years later than planned, so any excess savings will go towards the new car pot!

I've had a few unexpected expenses the last couple of months - in April it was my phone that packed up. I'm a bit of a nerd when it comes to techy things and like to have fairly high spec devices so that set me back £200, even though it was a reconditioned phone. Last week it was my DSLR camera that decided it no longer wanted to play. My old one was a second hand purchase which I had bought for myself from inheritance money after my dad passed away a few years ago. Given as it left me with several hundred pounds worth of redundant lenses if I didn't purchase a new one, I splashed out and upgraded to a newer model, so that set me back £550 at the weekend. Hopefully I'll get £50 cashback in the next week or so. I've put the purchase on my 0% interest card rather than take it out of my rainy day savings so that I can continue to top up my savings as well as spreading the cost over the rest of the year without feeling the impact too badly.

They say things come in 3's, I wonder what will fail next...? :eek:

darkidoe

geoffers4 wrote: »

This is a subject close to my heart, DD! My savings rate is about 72% at the moment, and there is some basic maths that translates this into about 8 years' saving before I can escape the world of work. The maths is beautifully explained on this U.S. blog;

http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/

Very Impressive. So if you started in 2013, you have 5 more years to go?? To be fair I think the MMM is a very good model. It is the model i will be using as well. I am still collecting data. Once I have a years worth of data, I can start plotting my graphs and calculate time to FI. It's all still in the early stages for me.