The "Save 12k in 2016" Thread!

garfield33

Wentthedaywell? wrote: »

Blimey Garfield, your employers don't exactly rush themselves do they?

Haha no they don't! It was all "oh Mr A needs to sign this bit and Ms B needs to sign this bit", and then the person in finance was away and when they got back they couldn't find me on the system despite them having paid me every month for over 10 years... but we got there in the end.

enthusiasticsaver

bobobski wrote: »

Question for the big savers: Did you find it easier to continue to save well once you'd built up a solid base sum? Whether that's in pure numbers or percentage terms of the total you wanted to save. I'm finding it really hard to imagine that my measly under-£8k total will ever turn into the approx. £80k that I'd like to save before buying...

I think that when you are saving for a specific target amount it gets easier the closer you get to target and you try and pull out all the stops to get to it asap. I am dumbfounded though that you need a deposit of £80k to buy your first house. Is that a 10% or 20% deposit on a typical ftb property in Cambridgeshire?

Wentthedaywell?

It's an ill wind and all that, but since Brexit and the fall in the pound, I've made £3,000 on my S&S ISA and my AVC in a week. :eek: This is after a year or so of having less than I'd actually paid in.

I'm not going to count it though, in the same way that I don't count the tax saving on my AVC. I like to have a bit of latitude in case shares tumble so when I cash in on retirement next year, I won't get any nasty shocks. I will have to reconcile what I get then to my more conservative estimate.

Hopefully it will be a nice little bonus, but who knows what will happen to anything in these scary, uncertain times?

Anouchka

Hello

I am number 65 reporting my savings for June.

From online earnings, overtime and a generous gift I have been able to save £650.00 this month.

bobobski

enthusiasticsaver wrote: »

I think that when you are saving for a specific target amount it gets easier the closer you get to target and you try and pull out all the stops to get to it asap. I am dumbfounded though that you need a deposit of £80k to buy your first house. Is that a 10% or 20% deposit on a typical ftb property in Cambridgeshire?

The £80k would cover "ancillaries" too, including furniture, SDLT, fees, emergency fund etc. But this is based on what I expect my salary will be at the time and what I think house prices will be like. House price minus what sort of mortgage I think I would be able to get = crazy deposit. Cambridgeshire is an expensive place to buy but Cambridge itself is ridiculous. The only person I know who's bought by themselves (i.e. not as a pair) in Cambridge was extremely lucky at the time he bought, and in his own words he "stopped having a life" for 5 years to save up. And he had family help and a first house in Ely that he sold well.

With my figures, I'm looking at a 13% to 15% deposit.

Oh, and I'm not looking at what you might consider a first time buyer's property. For my own reasons, I'm looking for a "good" house for my first house, not a dingy one bedroom flat in Arbury to get on the ladder. I'm still focused on the cheapest parts of the town, but not necessarily the lowest of the low properties on the market.

Ashers92

Number 157 for June.

Glad to report an on target £700. Taking my total to £7750.

July should hopefully be a good month for me. Paying off credit card for our Bruges weekend away, MOT and insurance on one of my cars. However, 30 hours overtime, a pay rise and £150 due from my girlfriend should give a reasonable boost.

Still on target so far

freezspirit

reporting £600 for July no: 013. However from no on will be very low as have no money coming in.

darkidoe

Right. so
£1226 for May and
£2276 for June
Tough 2 months for me. Not financially but loads of travel and paperwork and unnecessary worries. #Lifeofapawninthesystem
What's my total again?

Kreacher

#110 = Just my usual £500 again this month. I really wanted to have just a little more this month but car insurance and other bits to pay instead. I've started to feel really disappointed when I only save my usual £500 but I need to remember that £500 is so much better than nothing and so much better than being in debt like I was before.

Don't think I'll be able to get over £500 this month as the car needs some work done to it and I have no idea how much it will cost. We will see.

Still on track to beat my original target Total so far is £4400

tara747

June update from me (drumroll please):

I saved £1,615, which makes my 2016 (to date) total £6,336 and my overall total £101,543.

I did it!!!!!!!!!!!!!!!!!!!!!!! I finally hit £100K!


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