The "Save 12k in 2018" Thread!

Kez2511 · 15 January 2018 at 2:28AM

Hi.

I can't open the spreadsheet to find out my number.

tori.k · 15 January 2018 at 11:23AM

Westie983 wrote: »

£150 a month goes into my S&S ISA and the rest of my savings are in multiple regular savers, which mature after each year but I have set it up so I have at least two maturing each month till January 2019. Pay off my credit cards and then put into S&S ISA and repeat.

Westie983

That's where we are somewhat trying to be, only managing 4 at the moment but found it was the best way of making a little extra off the household bills money that needs to be paid out anyway.

Tales17 · 15 January 2018 at 1:00PM

Hi there, would love to join in this please, can you put me down for £12,000 please. We are likely to use some of our savings this year for some home renovations but as long as I am still putting the money aside every month (approximately £10k for the year) into our savings accounts I am counting that as saved out of our monthly income!!

Other £2k I am including Cashback & Competition Sites, Interest / Dividends, Shopping Savings, Selling, Surveys, Tesco Vouchers, Daily Saving Challenge.

Thank you! x

Merlin's_Beard · 15 January 2018 at 3:07PM

Martinslovechild wrote: »

I'll be very interested to see how you get on with this - and also why you've decided to select the particular cryptocurrency which you've purchased (Bitcoin, Ripple, Etherium, Litecoin etc).

I personally wouldn't touch cryptocurrencies, mainly due to the inherent volatility, but providing you're happy to potentially lose the entire £3K then that is completely your call. Good luck.

On a slightly different tangent, I'm also very interested to know if any other people here are using a Stocks & Shares ISA as the vehicle for their 2018 savings target - or whether most people are using simple old-fashioned savings accounts / Cash ISAs. I ask because I've been investing in shares for around 18 years and people always seem to be amazed when I tell them this - like I'm some kind of financial expert. It would be nice to see if there are others like myself who prefer to invest than save.

I would guess it depends on what people are saving for... I don't save in S&S but I'm either going to want to buy a house in the next 12 months, or I'm going to be moving area, so with my short timeline S&S aren't really a good idea.

Once I hit long term savings post-buying, then it's something I'd be thinking of doing with a proportion of my savings.

macdady29 · 15 January 2018 at 3:57PM

On a slightly different tangent, I'm also very interested to know if any other people here are using a Stocks & Shares ISA as the vehicle for their 2018 savings target - or whether most people are using simple old-fashioned savings accounts / Cash ISAs. I ask because I've been investing in shares for around 18 years and people always seem to be amazed when I tell them this - like I'm some kind of financial expert. It would be nice to see if there are others like myself who prefer to invest than save.

I'm currently putting a portion of my savings in a stocks & shares ISA using VLS 100. I'm holding some cash back in regular savers for when a crash happens so I can buy more in the sales.

Ive only been investing for a year so bracing myself for the next crash. If I could get 7% return over 20 or so years I would be more than happy at aged 55.

WodaSodowa · 15 January 2018 at 5:10PM

Thanks so much for the welcome

Martinslovechild · 16 January 2018 at 12:21AM

macdady29 wrote: »

I'm currently putting a portion of my savings in a stocks & shares ISA using VLS 100. I'm holding some cash back in regular savers for when a crash happens so I can buy more in the sales.

I've only been investing for a year so bracing myself for the next crash. If I could get 7% return over 20 or so years I would be more than happy at aged 55.

There will likely be several crashes & corrections over the next 20 years. My advice? Don't worry about it - if you're depositing regular sums into your S&S ISA then "smoothing" or "pound/cost averaging" (i.e. buying more units for your money when stock prices are falling) takes care of things over such a long timespan.

tashar__ · 16 January 2018 at 2:57PM

After initially feeling very doubtful about reaching my target this month, I’m on track to save £500 and may even exceed my target! Will check in again soon

a_silver_lining · 16 January 2018 at 8:58PM

I've moved £100 into an ISA in order to try and get the £100 bonus. So £1650 saved so far. Before payday I need to visit London to help a friend and am going for a lunch with another this weekend so I'm really hoping I have calculated right and have enough spare to not dip into savings.

KeepOnKnitting · 17 January 2018 at 1:56PM

I am feeling all sorts of frustrated at the moment as I cannot squirrel anything just now. Just doing the not-spending bit which takes the effort, rather than the exciting bit of transferring money to savings which feels good but is effortless. Instead I have booked some work for the next few weeks, shuffling my schedule and working out when I can do uni work or paid work.