The "Save 12k in 2018" Thread!

Suffolk_lass

StarShapedPeg wrote: »

Hi all
started the New Year in style! Recent storms have brought all our gutters down.
January is not a good month... sigh.
My emergency fund is depleted already.
Hope others are having more luck.x

At least you have an emergency fund to draw on :T

CrabbitDutchie

I've been doing a bit of planning this past week and have come up with a to do list for 2018 that will help save a bit of money and reduce my environmental impact:

- Keep better track of meter readings and energy use and optimise night time energy use - we have recently gone from a 3 to a 2 person flat and need to get our energy use tracked and under control. Spreadsheet set up and planning to do at the same time I declare savings.

- Switch energy tariff - unfortunately we have a weird Storage Heater Control meter which is like an economy 7 except there's a 3rd system that provides power to the storage heaters on a slightly cheaper than night rate for 8 hours a day including an afternoon boost. Scottish Power have a monopoly on these meters and we probably won't save by switching suppliers. Should be able to get onto a cheaper tariff though and hopefully pay about the same each as we did when bills were split 3 ways.

- Car share to work - should save at least £40 per month and one less car on the road during rush hour. Once the clocks change I'll attempt to cycle into work a couple of times a week. Really trying to get car use down to a level where one of those car club schemes would be cheaper than running our own car before the current one dies for good.

In order to hit my target I'm also going to try to keep my total expenditure for 2018 under £10k, (was at £11.5K last year, but spent about 2K on holidays, so should be doable without any noticeable belt tightening).

Otherwise 6 days in and so far so good money wise. Everything allocated and all bills paid, giving me £200 for food, fuel and fun to last until the end of Jan.

AWPTheo

Also in the bad luck group, although mine was by my own stupidity!

I managed to rack up quite an amount of debt with online store finance accounts before I suddenly realised "oh, this does actually need repaying" last year, so I stopped spending and started repaying. I paid off the repayments due for this month on the 1st of Jan so I could budget the next 2 weeks - anyway they've taken the whole payments this weekend too so I've skinted myself :rotfl: oh the learning curve!! I've essentially paid my debts twice this month. I didn't realise if you pay early they still take the whole amount for the month too! On the plus side the double payment means I only owe £160 in store finance now, so it will free up more money for savings a month earlier than expected

To be fair, since I've had the store finance accounts I've never had the spare cash to even think of paying them early, and a double payment would have meant declined payments and a beating for my credit score. Thanks to MSE I did have the extra cash to pay it, nothing was declined so even though it's a bit tight until payday on the 16th, I'll live. That has to be some kind of progress.

Anyway I'm not saving anything until the 16th to retain some kind of contingency until payday... Hope it's going better for everyone else :laugh:

vintagebrighton

Just posting after taking stock of the finances.

Currently I have £1300 on a 0% credit card with 24 months left to run. I also have £1000 in premium bonds and £1000 in Nationwide savings @ 5%. My savings therefore stand at £700. In addition I'm owed £325 bringing them up to £1025. I have a little saved in TSB which is earmarked for my £3000 budget to visit my daughter in Australia (so won't be touched for this challenge)

I'm self employed but haven't worked since my second diagnosis of cancer and as I'm 56 I don't expect (nor want) to be employed again. I bring in money by Airbnb at the moment. I also do various other bits and pieces as and when which tops up my income.

My husband also does ad hoc freelance work so together we make the budget work and get to do things that interest us.

I won't be able to put any money away till the end of the month so in the meantime I'll keep reading and getting to know everyone. I'll also search out other ways of making a bit extra!

Well done to all those posting money put away already :T And thanks to SF for keeping the challenge going

VB x

StarShapedPeg

Suffolk_lass wrote: »

At least you have an emergency fund to draw on :T

Thank goodness for small mercies, eh?
It's all thanks to this thread!:)

MastG

Hi
can you sign me up for £20,000

This will be for my Isa .
I have maxed my Isa allowance over the last few years but this could be difficult year to achieve my goal (may be no overtime at work !)

Gary

slowlyfading

Cant work out why the update form isnt working just ignore it for now.

lightbulb0811

No number yet, but can I update £617.10 into my pot. Should have another deposit on Tuesday. Thank you.

LabRatty

Hi SF,
Please can you sing me up again - the discipline of having to report a figure for each month has been really helpful.
I'll try for £25,000 but this is more in hope than expectation. Salary is reducing by OT payments being dramatically cut, and home (old, decrepit) needs some TLC which may be expensive. This is before any crises appear any bite us on the bum, but here's hoping...

If I could have number 109 again it would be helpful, but if not, no problem

Thanks
LR

Westie983

SF,

I think I know how to solve your issue with the update form.

I have sent you a PM.

Westie983