The "Save 12k in 2017" Thread!

geoffers4

Allotrope wrote: »

Please can I join... I'm aiming to save £4500 this year, which will be tight, but hopefully achievable.

Also, can anyone tell me how much I should have in my emergency cash stash? Thank you

Welcome Allotrope, and good luck with your saving in 2017!
I think I read somewhere on MSE that Martin recommends having enough cash to cover 6-months of day-to-day bills (rent/mortgage, council tax, water bill, gas, electricity, food, transportation). I guess emergency money can be in any types of savings accounts where you can get your hands on it fairly quickly, if the worst happened.

Buffythedebtslayer

Hello

Can I join for 5000 pounds please? I have to pay for Car insurance at the start of the year so it will be a slow start.

XX

bobobski

geoffers4 wrote: »

Welcome Allotrope, and good luck with your saving in 2017!
I think I read somewhere on MSE that Martin recommends having enough cash to cover 6-months of day-to-day bills (rent/mortgage, council tax, water bill, gas, electricity, food, transportation). I guess emergency money can be in any types of savings accounts where you can get your hands on it fairly quickly, if the worst happened.

If it helps, my (extremely small - so far) emergency fund is in a Tesco current account. My "proper savings" are gaining 4-6% interest, so I don't need the Tesco account for this purpose at the moment, leaving my emergency fund free to earn 3%. No faffing with DDs or anything. My other Tesco account is my "annual expenses" fund, in which I put money every month for car insurance, road tax, holiday etc. Interest from the annual expenses fund goes into the emergency fund, as the latter needs to grow as much as possible

Domayne

Hi SF can I join for 2017 please and I'm challenging myself with 10k next year! It will be slow saving up until May because of holidays/weddings and whatnot at the beginning but from May I'm going all out to hit that 10k!

Gem-gem

Hi SF,
I would like to join again for next year. I hope to be going away on a couple of holidays next year but would like to end the year on a plus.
Target: £6000 up after going away and paying for holidays.
Happy saving everyone.
Gem-gem

Lomcevak

Yes please, with a target of £24,000 - thank you

Psychobabble78

Hi all, signing on the dotted line 12k in '17 :beer:

Psychobabble78

Hi, I'm new to this, but feel like I need some help to make some inroads into saving and saving well - I do have a nice figure saved, but despite best efforts its remain pretty static over the last couple of years. I do all the tricks with current accounts, regular savers and have a very small sum in funding circle which sees a good return.

My question is I have 3 regular savings account which will mature in January 2017, and May 2017 providing a total of £8400 without the interest - would you count these as part of my savings or not - as technically they have been saved from last year, or just count the contributions made towards these within 2017? I'm guessing the latter?

Many thanks, and thanks for doing this!

Lomcevak

Psychobabble78 wrote: »

My question is I have 3 regular savings account which will mature in January 2017, and May 2017 providing a total of £8400 without the interest - would you count these as part of my savings or not - as technically they have been saved from last year, or just count the contributions made towards these within 2017? I'm guessing the latter?

I'd go with the latter. Personally I only count savings made during the challenge period, but count interest whenever it arrives - so if I had a £300/pm regular saver that I started in April 2016 that matured and paid £100 interest in April 2017, then i'd count £1000 towards the challenge: the last three payments of £300 in Jan, Feb, and Mar, plus the £100 interest in April.

Fruittea

Thanks - I'd like to go for the 12K next year as 2016 was really expensive for me and I need to recoup some funds. I'll also be counting saving I make by growing my own food - if that's alright.
Bring on January!