Save Up To £6K by end of 2018 1 June 2018 at 2:12PM edited 1 June 2018 at 2:20PM in Debt-free wannabe challenges 9 replies 1.7K views

indigowarrior

Anyone looking for a new challenge? I was planning my budget for the next 7 months and realised I could save quiet a bit if I stopped giving into impulses. I am currently in supported housing so my costs are reasonably low but even then if I was in my own place I could save easily £8000 if I budgetted.

I will admit I do have debt but, I am not in a position to pay them as of yet due to being in supported housing (That can be next years challenge.)

Even though it does say up to £6K I am being realistic and know I wont achieve that so thats why I have set a goal of £5K.

I aim to boost my income by not buying any gadgets unless my phone is super dying. I have plenty of books and DVD series I can watch to pass the time.
Would anyone like to join me?

indigowarrior

Starting the challenge with £56.30 That I had left over from last month.

System

indigowarrior wrote: »

Anyone looking for a new challenge? I was planning my budget for the next 7 months and realised I could save quiet a bit if I stopped giving into impulses. I am currently in supported housing so my costs are reasonably low but even then if I was in my own place I could save easily £8000 if I budgetted.

I will admit I do have debt but, I am not in a position to pay them as of yet due to being in supported housing (That can be next years challenge.)

Even though it does say up to £6K I am being realistic and know I wont achieve that so thats why I have set a goal of £5K.

I aim to boost my income by not buying any gadgets unless my phone is super dying. I have plenty of books and DVD series I can watch to pass the time.
Would anyone like to join me?

Hey hey! I would like to join? Not sure about the 65k HAHA, but the £5k is doable i think can you tell me more information about your plans and how you plan to do this? happy to join, we can be money accountability partners... feel free to PM me too if that's easier.

I think regardless of whatever goal is reached at the end of the year, doing this will hopefully mean extra savings, or additional... i look forward to hearing from you

I also have some debt I'm paying off too, so we could talk about how we're paying off debt haha

System

indigowarrior wrote: »

Starting the challenge with £56.30 That I had left over from last month.

Moving this into savings? First move? I might just aim to match what you do where i can hehe.

System

Sorry just realised you said 6k not 65 haha. Yes deffo doable for me 5-6k

indigowarrior

Sweetcake wrote: »

Sorry just realised you said 6k not 65 haha. Yes deffo doable for me 5-6k

I wish I had 65K spare I wouldnt be in supported housing if I did haha :rotfl:.
My aim for the next seven months is just to put any spare cash into my savings. I worked out that I waste so much money on unnecessary stuff that I need to do this. I have worked out a reasonable budget that meets all my essentials but, not allowed for much else which is fine. I am hoping by the time I am ready to move on I will have £5K to pay a few bills straight off and buy some nice furniture.

System

Hiya. Okay cool, well I’m well on my way anyway, I save across multiple accounts, and I put spare cash into savings. So will join and match your amounts where I can. I’m currently saving to buy a house and building up my savings generally. Let’s do it

indigowarrior

Sweetcake wrote: »

Hiya. Okay cool, well I’m well on my way anyway, I save across multiple accounts, and I put spare cash into savings. So will join and match your amounts where I can. I’m currently saving to buy a house and building up my savings generally. Let’s do it

Think I am going to have to lower my goal but thats okay. I am going to start aiming for £4K. I have a few things I can sell and boost it. I dont get a payment now until the 21st so probably wont make anymore payments until then.

System

Hey hey! Okay 4K it is and any additional is a nice bonus. Well I will continue to add to my savings also from the 21st also as that’s when I get paid. I’ve added quite a lot across this pay period and continue to add to savings through standing order. So I’ve decided this goal of 4K will be for my main easy access savings account which currently stands at £454.00 and wil decrease at end of July as that’s when I go away and what I’ll use for my spending money . Okay let’s report back on payday

indigowarrior

Okay. See you then.
I have an extra £75 to pay in due to a cheque from the Taxman. I had to take some out but am now down to £30.