The "Save 12k in 2016" Thread!

Lolly88

# 002 Declaring £1285.11 for this month. My target is currently set at £8000 due to knowing that I'll be unemployed from October. The plan was for the first half of the year save towards my house fund which is savings I don't dip into and then the rest of the year create a savings pot to keep myself afloat until I find a job which I wouldn't count as part of this thread...however I am secretly hoping that I'll be able to get a job by October and achieve 12k savings by the end of the year but I didn't want to set to high of a target and then feel like I've failed.

However since my current savings is just over 1k from my original goal, I think it's time to set the 12k saving target I'm secretly hoping for and just hope for the best financially for the rest of the year.

tara747

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!!

I set a budget, and save into several regular savers each month, but I also try to save extra on top, so I report every penny I've saved. Whatever works for you though

tara747

May update from me:


I saved £1,054 this month, which makes my 2016 (to date) total £4,721 and my overall total £99,928.


So close yet so far!!!!!!!!!!!!!!!!!!!!!!! Can't wait to hit the magic £100,000 next month


Keep up the good work folks

kitjos

Wow Tara!! Congratulations for when you hit the 100k mark!! That's an insane amount of money to have as savings! :T. I remeber seeing your posts from years ago when you were sub 50k so huge pat on the back for your achievements. What an inspiration.

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Unfortunately nothing saved this month for me as had a couple of CC to pay off and husband had some unpaid sick days at work.

Think we are back on track for June. Hoping to get to 10k by Aug/Sept

Thanks SF xx

sofarbehind

£2200 for May, which is great. Finally been paid for some overtime.

tara747

kitjos wrote: »

Wow Tara!! Congratulations for when you hit the 100k mark!! That's an insane amount of money to have as savings! :T. I remeber seeing your posts from years ago when you were sub 50k so huge pat on the back for your achievements. What an inspiration.

---

Unfortunately nothing saved this month for me as had a couple of CC to pay off and husband had some unpaid sick days at work.

Think we are back on track for June. Hoping to get to 10k by Aug/Sept

Thanks SF xx

Aw, thank you for the kind words, kitjos, how lovely of you

Well done on paying off debt, that's a weight off your shoulders :beer: I'm sure you'll be right back on track with savings next month.

sofarbehind wrote: »

£2200 for May, which is great. Finally been paid for some overtime.

Well done, sofarbehind!

tempus_fugit

Only £224.03 for this month as we have had some things that needed fixing in the house.

mummytummy

Have just updated for May £839, June/July may not be so good as a few outgoings coming up




Must not panic - yet!

[Deleted User]

Not done too great this month and not sure how I am going to do in June either, as its my twins birthdays, but a saving is a saving. Total so far is £6,900. #176. Good luck everyone.

savings_my_hobby

£775 for me in May - the lowest of the year so far but...
I have paid my car insurance off in full as I always try to do and would recommend everyone tries to aspire to (take that 16.5% monthly charge)

AND, I saved a ridiculous amount last month (ok, not ridiculous but more than expected) whilst getting my car through it's mot.

The way I have planned to get to £10k is to save at least £950 in months with five Fridays and at least £775 in months with four Fridays as I get paid weekly. This year December has five Fridays but I should only need four, the fifth can be for xmas presents or whatever.

31 pay days left in 2016 so only need to save £166 per week, down from 192.30 at the start of the year. Will continue to save as mach as possible as we never know what is around the corner

I only count wages, not interest, interest is a bonus.