The "Save 12k in 2016" Thread!

Ruthy1604

The DD for my SS ISA was paid out today so I'm off the starting blocks. Yay!


Number 26 £400 for January so far

enthusiasticsaver

Last year I calculated my savings as the amount I transferred into my stocks and shares isa and regular savings account and ignored current account surpluses and money saved for holidays etc on the grounds it may well be spent later on during the year. This year I am going to have to do it differently as I have entered the realms of multiple current account and regular saver holders and am recycling minimum payments around accounts making it harder to keep track of what is actually being saved and what is just being transferred between current and savings accounts. So I am going to use my spending tracker app to keep track and my monthly savings figure will be my transfer to my S and S isa plus the difference between income and expenditure each month. Should be interesting!

black_taxi_2

fund manager invested today

£834

Eco_Miser

enthusiasticsaver wrote: »

my monthly savings figure will be my transfer to my S and S isa plus the difference between income and expenditure each month.

Sounds as if you are double counting your ISA, unless that's going in expenditure too.

ArmyDilllo

enthusiasticsaver wrote: »

Last year I calculated my savings as the amount I transferred into my stocks and shares isa and regular savings account and ignored current account surpluses and money saved for holidays etc on the grounds it may well be spent later on during the year. This year I am going to have to do it differently as I have entered the realms of multiple current account and regular saver holders and am recycling minimum payments around accounts making it harder to keep track of what is actually being saved and what is just being transferred between current and savings accounts. So I am going to use my spending tracker app to keep track and my monthly savings figure will be my transfer to my S and S isa plus the difference between income and expenditure each month. Should be interesting!

Could you not total your holdings up now and then realise the difference with your total holdings at the end of the year?
That would account for further investment, transfers, changes in value, and interest payments.
New total = your savings for the year.

Wentthedaywell?

black_taxi wrote: »

Fund Manager invested today

£834

I've got the same fund as you, Black Taxi. I bought at the peak unfortunately and am currently £500 down. I'd lost a grand at one point.

Now's good time to buy more of course, like you are doing.

black_taxi_2

im just pound cost ave monthly wenthedaywell and hope in 10+ years I have a decent next egg


all the best

enthusiasticsaver

ArmyDilllo wrote: »

Could you not total your holdings up now and then realise the difference with your total holdings at the end of the year?
That would account for further investment, transfers, changes in value, and interest payments.
New total = your savings for the year.

I could total up at the end of the year but for the purposes of this monthly challenge I don't want to put the value of the S and S in as it changes every day and is irrelevant unless I intend selling it which I don't. I would rather therefore just put the amount I invest every month as it is a regular amount and then the difference between expenditure and income. I count interest as income so that would be included and ignore transfers between accounts as they are not actual expense or income.

enthusiasticsaver

Eco_Miser wrote: »

Sounds as if you are double counting your ISA, unless that's going in expenditure too.

I normally do log the monthly transfer as expenditure but thinking about that I don't suppose I need to do that.

george4064

Just opening my Nationwide 5% RS, £500 transferred to there, and £200 to HTB ISA.

So far £700 this month, not sure there's anymore room to save more but will have to see.