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The "Save 12k in 2016" Thread!
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I'm so excited to watch my savings grow.
I want January 1st to arrive so I can "officially" start ebaying and saving even harder to add to my total .0 -
Tea&Biscuits wrote: »I'm so excited to watch my savings grow.
I want January 1st to arrive so I can "officially" start ebaying and saving even harder to add to my total .
I've been doing this. We got paid early for December, on 22nd, but I've been keeping my money in my normal account so I can officially count it as savings on 1st January. I asked my friend if this was cheating for the purposes of this challenge, to which the response was "................... yes". But hey ho, it's all psychological! Who doesn't want to start 2016 with some easy savings?0 -
Not long til we can get cracking. Lets hope for a bumper 2016Moving on up
SPC #382 ~ £40 banked
12k in 2016 #15. £541.91/£30000 -
Its not just me who's eager to start then?!
I feel like this with everything though; the decorations are coming down, my diet starts tomorrow, the house is being cleared early...I just cant wait to start the new year with a fresh slate!
£20k in 2023 = £2718 £2023 in 2023 = £196.41 Grocery challenge £250= £195.80 **MONEY MAKES ME HAPPY**0 -
sofarbehind wrote: »I started off aiming for 10% but after a sale fell through I'm now aiming for 25%. I'm buying on my own though so it's probably more critical for my affordability than it is for others. If that makes any sense?!
Same here. Not looking to buy at the moment but can foresee myself looking in a few years time. Want to get prepared for it!
C'mon 2016!!!:j
Save 12K in 2020 # 38 £0/£20,0000 -
I've been doing this. We got paid early for December, on 22nd, but I've been keeping my money in my normal account so I can officially count it as savings on 1st January. I asked my friend if this was cheating for the purposes of this challenge, to which the response was "................... yes". But hey ho, it's all psychological! Who doesn't want to start 2016 with some easy savings?
No fair!! :mad:
Save 12K in 2020 # 38 £0/£20,0000 -
Please could I join.
I'm aiming to save £200 per month. To add to a help to buy ISASave 12k in 2016. Member #128 aiming for £2400. 0/24000 -
Good luck saving for the deposit. Just curious, i know deposits can range from minimum 10% upwards and the best mortgage deals tend to be with deposits of around 30-40% of property value,excluding fees,etcetc. What percentage of property value would people typically aim for their target deposit?
I'm aiming for 20%. This is largely based on my projected salary in 5 years, how much I can borrow on that and house prices in the area. Of course, lots of imaginary numbers here but using today's numbers as a base, I will need 20% to be able to borrow enough to actually afford a house...! It may be that I can borrow enough with an 18% deposit or so, but if that's the case I'll likely wait it out a few months to save up to 20%, depending on what the market is doing.
So on my numbers, if I can save £60,000 in 5 years, that would be a £300k house, and I expect to be able to borrow at least £240k in 5 years' time. Massively oversimplified I know, and hopefully I'm being pessimistic (what an odd phrase), but that's how I'm doing it anyhow! When you're as far off as me, you have to start making your dream reality somehow.0 -
I've been doing this. We got paid early for December, on 22nd, but I've been keeping my money in my normal account so I can officially count it as savings on 1st January. I asked my friend if this was cheating for the purposes of this challenge, to which the response was "................... yes". But hey ho, it's all psychological! Who doesn't want to start 2016 with some easy savings?
I'm doing something similar.
I think I read it in Rich Dad, Poor Dad, that the best way to save is to "pay yourself" as soon as you receive your salary.
So rather than saving what you have left at the end of the month, pay your direct debts etc, set yourself a bit of cash and immediately transfer the rest to savings.
Hopefully that way you won't be tempted to overspend.
Anyway I'm going to give it a try and have transferred my income and bonuses to savings today ready for 1st Jan.
Then I will do the same on the 1st of every month.
Just updated my signature.0 -
lessonlearned wrote: »I'm doing something similar. rather than saving what you have left at the end of the month, pay your direct debts etc, set yourself a bit of cash and immediately transfer the rest to savings. Hopefully that way you won't be tempted to overspend.
I do something very similar to this as well, every month I transfer an optimistic amount into a separate low interest account, whatever is still there by next pay day is then transferred into my long term savings (my ISA). I find I'm less likely to spend it this way as it's not just sitting in my current account making me feel frivolous, but having it in the separate account means I can still trickle bits back into my current account if I'm in need of a bit of extra cash for any reason.£12k in 2019 #084 £3000/£3000
£2 Savers Club 2019 #18 TOTAL:£394 (2013-2018 = £1542)0
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