The "Save 12k in 2016" Thread!

darkidoe

Wentthedaywell? wrote: »

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

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 have been commiting the sin of eating out too often too much recently. Needed abit more chill time with friends I can enjoy time with, and I think it is money well spent.

poohbear59

I know we are almost half way through the year but I MUST save £2000 by October to pay for travel and accommodation and some 'fun' money for our son's wedding in October. That is for two of us. And our aim for the year from now is £3000 savings.

Can I join you a little late please?

Mr P and I are going to do a new budget reckoner and see where we can save some money. Each month our spend exceeds our income so that our savings are seriously depleted. In fact we have just £364 in our savings account and £126 in my credit union account. I would love to aim for more but I need to be realistic. Our income is not high. We are both retired and have a small self employed business. I hope it is okay to start small like this...

Wentthedaywell?

darkidoe wrote: »

I have been commiting the sin of eating out too often too much recently. Needed abit more chill time with friends I can enjoy time with, and I think it is money well spent.

Absolutely agree Darkidoe - we have to invest in memories and friendships, not just bank accounts :beer:

It's things and stuff that are often just a waste of money and space.

geoffers4

darkidoe wrote: »

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.

Should be 5 more years in theory, DD, but with some pension money thrown into the mix my particular graph breaks-even in 3-and-a-bit years. Good luck with your own data collecting - keep us posted!

black_taxi_2

off topic----story to cheer you up

http://www.scotsman.com/news/baby-red-squirrels-abandoned-in-dundee-saved-by-dog-walker-1-4137518

Aliliva

This month has been awful for my spending: I booked and paid 700GBP for a holiday and, in the meantime, I also took 3 long weekends out :eek: The good news is that I put away my savings at the beginning of the month and I still have enough cash in my bank account to survive till the end of the month :T

Seafoam

I'm thinking about lowering my target :think:

It's my first year doing the challenge and I think I got a bit excited.

I know for certain I'll be spending £3300 this year.

But I'm thinking about a holiday to Florida as well now; I really need it to stay sane.

But it's going to set me back another £5000 :undecided

lisa110rry

Just £478 for me this month, sob! Hey ho! Needed to get my car sorted... that was £550 but it's done!

Dragon_Lily

#34 reporting £150 saving for May. Sig updated and form submitted

Westie983

Hutchch0920 wrote: »

I am not sure if I am backwards to everyone else but I report my savings as soon as I get my pay cheque and then make sure I stick to my budget rather than report the day before payday with what I have left out of my pay cheque if that makes sense? Anyway I am totally stuffed this month as I think we're going to have to put down a deposit and month in advance for rent on a new place (OH's family selling their home and downsizing so no more space for us). But this means I'll have to keep my 'savings' for this month aside for that one day the deposit paid will go back in the savings I guess but I was really enjoying reporting in every month and getting some good figures and now it's all going to be kiboshed!!

Thats okay because you have saved it, others have had to dip into the pot, but just think of the position you would be in now if you had not been saving each month, you can still report each month, every penny counts it will soon add back up again.

It may not be of the same value but even 1p you save each month is 1p more then you saved last month...

Dont beat yourself up about it, you have put yourself in a better position for the future, you savings pot will replenish even with the home move...

It was the purpose of the challenge, to spend what you have saved, not spend what you haven't got


:-)