The "Save 12k in 2017" Thread!

Lomcevak

Many congratulations, SF!

Declaring £3,889.84 for December, making a total saved in 2017 of £35,099.66. Very happy with that, it was a bit of a slow start to the year but for the last 8 months we've been saving more than 50% of our joint (post-tax) income, so our long-term goal of escaping the two-income trap is starting to feel much more tangible. We're not there every month, but over the year we almost are.

This is my fifth full year in the save-£12k challenge (I was in 2012 as well, but had to pull out halfway through when building work became much more expensive than anticipated), and over that time we have saved £136,940.65. That's a pretty amazing amount, and although not quite a life-changing amount, it is well on its way to becoming one - for example, we've gone from having no S&S ISA savings in Jan 2014 to a six-figure sum now, and from no debts but a large mortgage and no real savings in mid-2012 to a place where the mortgage will be gone by 2020 and early retirement at 55 is a very real option should we chose it. Here's to the next five years

RichyRich

Well, as promised, an end of year update. As predicted I fell short by almost exactly a grand, having saved #11,003.70 this year. If it wasn't for a pesky legal bill of #1,200, I'd have made it (actually I have a bit more to pay, but I haven't received the final invoice yet, so am going to count that as next year's expenditure).

It's not all doom and gloom, though. I upped my retirement savings into my work pension plan to 10% (to be increased to 12% next year), plus employer contributions of 8% which will mean in effect I'm saving 20% of salary from next year onwards, and I've been overpaying considerably on my mortgage by about #700 per month. So I'm fairly philosophical about falling #1,000 short in actual savings this year.

I have already set up a new Nationwide Regular and FD Regular for next year, and have about #5k hanging about while I decide what to do with it. There's no point opening a new Bank of Scotland account as Tesco has killed that off, so I'll have #10k to think about in April too. Half of me is tempted to stick it into my Nutmeg ISA, which has performed well, and the other half to stick it into Premium Bonds. I really can't be bothered with a Post Office savings account at 1.3%. I might split the cash 50/50, but I'll decide in the new year.

Well done to everyone who achieved their goals this year. And apologies for the #s - my keyboard's gone all American on me.

Onwards and upwards!

sonas_baby

No 121 reporting in with December's total of £560. Didn't meet my target this year but life is defiantly better so hoping I'll smash it next year. ��

bobobski

Wowza, some fantastic savings being reported. Well done to everybody who's met their goals and, for those who didn't, I'll bet you saved loads more than you otherwise would have done because you took part in this challenge Certainly that was me last year - I missed my target by a lot but saved more than 3x what I'd saved the year before due to this challenge (and SF's efforts in keeping it going) and use of YNAB.


My final numbers are in and I can report savings of £692.96 for December, bringing my total for the year to £12,078.82, so I've beaten my target by a whopping 0.65%! This is after an extremely expensive and off-budget December, with my self-control over Christmas spending being lost somewhere in the snow - I blame the new boyfriend for me wanting to treat him! - and further spending on the house purchase.


Onwards to the new year. I've set a higher target because my track record in house purchases is 0-2 so far so I'm being rather glass half empty about property #3 which I'm currently trying to buy, so I'm working on the assumption that I won't complete. If by some miracle it goes through I'll drop my target substantially as I still want to take part even if my target is tiny


Wish me luck

imajica37

I am finishing off with £736 for December which brings to a total of £11,759 for this year.

Bit gutted that I changed my target to £12,000 and didn't quite make it but I smashed my original target of £6,000. :j:j:j:j

Congrats to everyone who is still going with the challenge :T

black_taxi_2

ive had a bad year , saved 0

only good news , no debt

health sickness , an being self employed is a bad mix

all the best 2018 everyone

Suffolk_lass

I have just lodged my final figures for the year and I am just a smidge under £300 short of my £11,000 target. While this is disappointing, I am still pleased with over £10,000 saved, and if we add "invisible" savings in our pensions and overpayments to our mortgage, we have balanced at just under £25k for 2017

Jazee

Morning all. Popping in to declare final totals for the year as I won't find any more to save tomorrow. My target was £12k. I have saved £13449.71 and although we had to use just over £1k of this towards DSs wedding, there is still £12416.68 in the bank.

In useless accounts I might add, so I really need to get it into accounts with decent interest rates.

This thread has been amazing, I've never saved like this before. Thanks everyone for the encouragement.

Xenon

Xenon The Earth Destroyer if He Could Get Off His Lazy Backside And Get On With It

Alrighty then

Dec £ 2061

2017 £ 9464 approx

A large smidge under the £12k target but paid the council tax mostly in one go and increased pension AVC payments - so would have made it.

Either way a happy cosmic alien being

A slow year in the blowing up planets business but not bad in the saving some coin business

cathybird

Morning all, no. 38 reporting for final figure of the year, this month I can declare savings of £1,131.66, bringing my final total to £12,978.51.

I made target, and I'm happy about that, but it's not as good as previous years and while a lot of that was unavoidable expenses it's also true that there was too much careless spending on some things so that's basically something I have to bring more under control in the coming year, something to aim for.

Happy New Year everyone and many many thanks once again to Slowlyfading for all her hard work running this thread, much appreciated.