The "Save 12k in 2016" Thread!

Frances109

I'm most definitely not going to hit my target this year but I'm still grateful to have been able to pay my car insurance off in one go! I'm declaring another £450 this month - shame I'm still paying my credit card off or I would have more!

jessy-eve

Not sure I'm going to make target this year but still trudging on! Managed to save £440 this month.

ArmyDilllo

I've submitted a dividend of £1200.00 to the end of September, for the BP shares I bought earlier this year.
Unfortunately I am not allowed to add the £12,000 they've risen in the same period as, obviously, they are re-balancing all the time.
If I were to sell up and 'realise' the growth as profit I would either declare it then, or at the end of this tax-year.
I believe that's correct procedure here(?).

As I retired on 30th September, I have no other income except investment income now.
I do not intend to draw on any pensions until 2020 and my state pension won't kick in in2026 (unless the SOBs rob me of more time before that).

{ 8-]

Kreacher

I've saved my £500 this month (spreadsheet updated!). Which now means that I've reached my target Thanks everyone for this thread, I've never had savings before and I can't believe I know have over £6k saved!

I'm strangely really looking forward to my regular saver maturing in 2 months, just need to find the best place to put that money now! I'll probably open another one straight away too

Dragon_Lily

#34 declaring just £50 for this month and sig updated. (Sorry entered the wrong date on my form - should be for Oct not Sept). I was saving £100 towards paying down my mortgage but will have to stop this as I will be starting a new job soon on much less money. It's not all gloom as I will benefit from working just 3 days a week, which will help my stress levels which were getting out of hand. I already feel better knowing that the change is imminent!:j I will be opening my saving pot next week, so will be off to a good start for Novembers monthly saving.

I might not be able to continue saving as much with the new job - (probably not even £100 per month) but I will continue saving!

Slowly Fading is a £1000 target too little for the saving challenge? Other savers have such big targets and monthly saving amounts. Mine will seem quite meagre in comparison but I suppose saving is saving I have enjoyed the incentive of posting my monthly saving with this challenge which has been a big motivating factor.

Westie983

Dragon_Lily wrote: »

#34 declaring just £50 for this month and sig updated. (Sorry entered the wrong date on my form - should be for Oct not Sept). I was saving £100 towards paying down my mortgage but will have to stop this as I will be starting a new job soon on much less money. It's not all gloom as I will benefit from working just 3 days a week, which will help my stress levels which were getting out of hand. I already feel better knowing that the change is imminent!:j I will be opening my saving pot next week, so will be off to a good start for Novembers monthly saving.

I might not be able to continue saving as much with the new job - (probably not even £100 per month) but I will continue saving!

Slowly Fading is a £1000 target too little for the saving challenge? Other savers have such big targets and monthly saving amounts. Mine will seem quite meagre in comparison but I suppose saving is saving I have enjoyed the incentive of posting my monthly saving with this challenge which has been a big motivating factor.

I can't see why not it's still saving, you are welcome to join my Virtual savings pot challenge, where you set your own target if you wish and you transfer and update me at least once a month, every penny counts in my challenge, some and have a look.

Westie983

slowlyfading

Dragon_Lily wrote: »

Slowly Fading is a £1000 target too little for the saving challenge? Other savers have such big targets and monthly saving amounts. Mine will seem quite meagre in comparison but I suppose saving is saving I have enjoyed the incentive of posting my monthly saving with this challenge which has been a big motivating factor.

Not at all - the more the merrier £1000 is fine for a target!

ArmyDilllo

Forgot that I had ended a small income replacement policy when I retired.
Just received the surplus (£2.5k) from the account, which I'm adding to my 2016 funds.

On a side note; it was a bit sad for me to end this policy.
My Grandfather started it for me in March 1960.
The month after I was born.
No point in keeping it going any longer though.

slowlyfading

Spreadsheet updated

CrabbitDutchie

#184 reporting £509 for October

As expected it was quite an expensive month.

Not sure I should even be declaring as much as that as I broke my car this afternoon and now it won't start. It's only a fuse, but the fuse is located in an awkard place in the engine bay and the plastic casing had already half melted (without blowing the fuse). On top of that, whilst investigating I removed the duff fuse but managed to leave one of the pins stuck in the fuse box! Still hoping to fix it myself, but it may end up costing a bit of time and effort.

My flatmate and colleague has moved out of the flat which has been both sad and expensive. She paid for half the petrol costs (60 mile round trip) and half of the council tax, which worked out at £130 on top of rent that I'll now be missing out on.

If I can get my car started it'll be another expensive (planned expensive) month with car insurance and MOT due. Every year this leaves me with a dilemma on what to do with my car. It's a 2000 renault megane with 117K on the clock (but probably 125K -130K actually done, the odometer broke just after the last MOT). It's got a few issues (what else would you expect from a Renault), but on the whole still drives pretty well. It's not worth anything, but it also doesn't cost me anything on top of ongoing maintenance and running costs. Last year it averaged at a smidge over £80 a month (this was tax, insurance and MOT all paid in one lump of £1000 last November) which was painful at the time, but on the whole I don't think is too bad and is still much cheaper in the short/medium term than getting a new car.
At work they think I'm completely crazy for keeping my old car going and not getting something new and shiny on a silly PCP/HP deal now that I have a 'secure' job. My next car will definitely also be a 2nd hand older car, the question is when will I bite the bullet (probably when I can pick up a well looked after, £0 road tax, low insurance bracket car for peanuts ).

There are also christmas flights home to be sorted out, so November may be a net spending month, but December should then still give me enough to hit my overall target and maybe even that magic £10,000 for the first time ever.