The "Save 12k in 2016" Thread!

CrabbitDutchie

Number 184 checking in.

Reporting £1500 for August thanks to finally getting the £950 I was owed from last year.

Now off on a much needed holiday for 2 weeks. Rewarding myself for lasting a year in my current job and being about 7.5K better off than I was this time last year (on a net salary of 17K a year). I don't tend to save sepatately for a holiday (no fancy holidays for me yet), it will just impact how much I can put away this month and next.

This going on holiday right at the turn of the month has made me realise how much I still need to automate my finances. At the moment I still do everything manually (a hangover from my MSc year where everything was so tight that I frequently needed that buffer of a couple of days). This means I've paid council tax and rent for next month already out of this month's wages (get paid on the last working day of the month).

Westie983

Gem-gem wrote: »

Hi Westie, what is Kent Reliance dropping their RS to?

Think it's going to 3.25% from 4%, can't remember but it's happening from the 1st.

There_Is_a_Light

Really got to grips with things this month and sold a ton of junk that I had been holding on to for years. £1894.05 for the month of August brining my total to the year to £11223.09

Westie983

There_Is_a_Light wrote: »

Really got to grips with things this month and sold a ton of junk that I had been holding on to for years. £1894.05 for the month of August brining my total to the year to £11223.09

Not to be sniffed at, just think of all that money that was just sitting there well done :-)

Ghostgirll

Hi,
Just want to say what a brilliant thread, it's wonderful to see how people out there are being so positive, and actively motivating each other to improve their financial situation, particularly in the current climate. Bravo!! You've really cheered me up - and possibly belted me over the head with a brick - of COURSE I can do something to improve my financial situation, you all have done it, and if you can then ...so can I!

Thank you

Westie983

Ghostgirll wrote: »

Hi,
Just want to say what a brilliant thread, it's wonderful to see how people out there are being so positive, and actively motivating each other to improve their financial situation, particularly in the current climate. Bravo!! You've really cheered me up - and possibly belted me over the head with a brick - of COURSE I can do something to improve my financial situation, you all have done it, and if you can then ...so can I!

Thank you

Just think every penny you save is a penny more then yesterday and will be a penny more in the future...

The only way is up :-)

Frances109

Hello! Not the greatest of months for me with only £323.85 added to my savings, BUT i have just spent out on a holiday of a lifetime to Canada, Mexico and New York which I cannot wait for! Yes it will take a massive dent out of my savings next year but I am still on track to hit my target for the year!

enthusiasticsaver

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.

It is entirely up to you. Some include pension payments or debt or mortgage payments. I personally take the difference between monthly income and monthly expenditure and ignore transfers between savings accounts. I would imagine so long as you are consistent there is no reason why you cannot include your overpayments. Makes sense with interest rates so low.

letiss7

I've been absent from this thread all year but finally managed to get back to it.
I've updated my monthly figures upto April and then rounded the rest up into August, hope that is ok.

Sorry for the extra work SF.

slowlyfading

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.

It's totally up to you how your structure your own challenge