The "Save 12k in 2016" Thread!

enthusiasticsaver

bobobski wrote: »

Personally I will be using completely separate accounts and only counting money going in there, rather than also including the money remaining in my current account just before pay day ("the money I don't spend"). I.e. I'm only counting money designated as savings. Then if I have to dip into it, that is a negative savings sum, so is subtracted from money put away. I have no idea if that makes sense?!

That is what I do too as almost 50% of my savings go into a stocks and shares isa which changes in value constantly and I do not want to include the general ups and downs of this in my savings figure tracking. I therefore am putting £750 per month into regular savers and £500 into my stocks and shares isa. My savings target is therefore dependent on me making these monthly payments and not withdrawing from any of these accounts. I have other savings accounts for emergency money, holidays, home improvements, car etc and do not count the amounts going into these as these will be spent over the year.

Dird

#96 my mortgage company agreed to increase my term from 9 to 30 years. Please increase my savings target to £20k...catching you up boglehead

Interesting fact: According to http://listentotaxman.com/ this would mean saving 78.6% of my net annual salary

monochome_blue

I'd like to join this please - became debt free about three weeks ago and as it happens starting a new job in January that should for the first time ever give me some excess.

I'll set my target at £8000.

darkidoe

Merry Christmas MSEers! :rudolf::xmastree:

lynnejk

Happy 25th everyone.


Would you please take me off the challenge slowlyfading as I will not be participating here in 2016


Good luck with the challenge one and all and probably 'see' you around the boards
Lx

Wilkos

Hello Slowlyfading,


Please can I join in this years challenge? I would like to save £10,000 in 2016.


Many thanks,


Wilkos

bobobski

Spreadsheet made, hoorah! I've also made a budget for the first time. Now it's up to me (with your good selves' help) to stick to it!

The big numbers on here are both inspirational and terrifying; I keep reading around the forums but I haven't yet found the secret to big money

imajica37

I'd love to join this too, such a great challenge. I will set myself a target of £6,000 for 2016.

Short-n-Sweet

I would love to Join please - Put me down for £5,000

I am determined to try harder in 2016

benbenandme

Can I join too please, I'm going to aim for £6000 :money: