The "Save 12k in 2016" Thread!

bobobski

£534.57 for me this month. Sadly still on the low end, thanks to my car, but I'm pleased to say that I'm prioritising accurate budgeting and am choosing to continue to save properly in my annual expenses fund than inflate my house savings and need to dip into them later.

Sorry SF, I just sent you an incorrect update form; re-sending the correct one now!

Pepperoni

Hi. I'm thinking of joining the thread next year and wondered if mortgage overpayments would / could count towards the savings? I intend to save £12,000 but I'd like to use some of it monthly on our mortgage. To me it's savings as its money I never had to put to overpayments before, but don't know what the general rule here is! Thank you.

Hutchch0920

#163 reporting an unexpected £2389! Co-Op bank got in touch to say one of my loans from 2010 did not comply with the CCA so as a form of apology they refunded all my interest!

Wentthedaywell?

Pepperoni wrote: »

Hi. I'm thinking of joining the thread next year and wondered if mortgage overpayments would / could count towards the savings? I intend to save £12,000 but I'd like to use some of it monthly on our mortgage. To me it's savings as its money I never had to put to overpayments before, but don't know what the general rule here is! Thank you.

There's no rules here, Pepperoni, it's how you want to count your savings. . If you are not spending money you might otherwise spend and are taking it off your mortgage rather than have it sitting in the bank earning hardly any interest, that sounds like savings to me!

I hope you join us next year, this group is very friendly and great for keeping us all on the straight and narrow.

Lolly88

#02 declaring £1089.54 for this month bringing total this year to £10,785.91.

george4064

Wentthedaywell? wrote: »

There's no rules here, Pepperoni, it's how you want to count your savings. . If you are not spending money you might otherwise spend and are taking it off your mortgage rather than have it sitting in the bank earning hardly any interest, that sounds like savings to me!

I hope you join us next year, this group is very friendly and great for keeping us all on the straight and narrow.

Wtdw is exactly right, even I managed to change my own 'rules' when I was previously excluding money set aside (automatically) for my company's sharesave plan. I used to not include it at all but after realizing/thinking about it, it should be counted towards my saved amount!

Hope to see you here next round

Pepperoni

Thank you for your kind replies, I'll be joining you all for 2017! :beer:

[Deleted User]

No 133 declaring £2000 for August. Update form filled in. What a difference being back at work makes!!

SF that's my vote submitted for The Frugal Cottage. Best of luck:D

[Deleted User]

Hi, hope everyone's well. Reporting end of month total for #176 @ £7,000. I saved £500, bit under what I wanted, but better than the previous two months of minus. Not sure I am going to make my target, but I will plough on anyway.

george4064

george4064 wrote: »

Reporting £923 for July!

HTB ISA - £200
Nationwide RS - £500
Sharesave Plan - £223

Few cool things that have happened;

- this is my record amount saved in a normal month!

- my cash saved in bank accounts has doubled from Jan 2016 to Jul 2016!

- S&S ISA has recovered from the Brexit effects so far, this was significantly helped by selling the majority of my holding in a housebuilder in April this year leading up to the EU referendum result!

S&S ISA Portfolio price/performance since 31st Dec 2013 (Click here)

Reporting £823 for August.

HTB ISA - £200
Sharesave plan - £223
S&S ISA - £400

Submitted my August figure to the google s/s.