The "Save 12k in 2019" Thread

Clare43

Hello No 28 reporting £1532.34 for March

bobobski

Happy new financial year all

A bit of a strange March for me as I've spent some of my savings on what they were saved for. I've decided to include additional savings in those categories this month and exclude the spending as the money was always intended to be spent - I just hadn't expected it to be so soon.

So, I'm declaring £485.24 for March (plus a whopping £5.02 mortgage overpayment ). However, having now bought my "new" car (on a 0% credit card, whoop!) and with a warranty to pay for, my savings going forward will be decreasing as I reallocate future savings to debt repayment. So I'm changing my target from £7,000 to £4,500 - all of which is intended to go into the emergency fund and not be spent (hopefully!!).

By the way, I'm very jealous of those saving £1,000s every month - teach me please!!

kev2009

Hi,

#003 declaring £500 for April.

I've submitted the form also.

Many thanks

Kev

slowlyfading

juststuff123 wrote: »

If I can join:

Jan = £1181
Feb = -£777 (Not a good month!)
Mar = £3388

Thanks

Your challenge number is 173

slowlyfading

gfults234 wrote: »

Hello,

I was just wondering if I could join this thread? I have been recieving daily email alerts since January.

Could I make my savings target 10k please? I can add in my savings amounts for January and Feb, last month didn't manage to save anything with a few big bills going out!

Thanks

Not too late! Your challenge number is 175

slowlyfading

Spreadsheet updated

I'm sorry that this is so delayed - life has been so hectic lately and our household has also been ill, so I haven't had much time to myself. Two young boys + illness = no sleep. Fingers crossed we're out the other side now.

Also, I'd love your help with something. I started a YouTube channel in March, just to do with budgeting things. I'd love it if you could check it out and subscribe!

I won't let it go so long next time, promise

CrabbitDutchie

March update for #58

Great month for savings - £2020 putting me at 23.5% of target for the year, so pretty much back on track despite buying a car in January. Didn't feel like I went without anything in February and March, but obviously the lack of council tax helped bring the savings up. April should be pretty good (bonus paid at the end of March), but from then on we'll be losing our flatmate (mutual decision) so my expenses will go up a bit.

darkidoe

#5 Update

£2182.3 for the Month of March. Average month. Whoohoo! I'm more than 50% there already to the goal! Next month would be a bummper month i am predicting.

Speaking about cars, I have always thought of it but can't justify it as of it. And people around me say I think too much about it!

CrabbitDutchie wrote: »

March update for #58

Great month for savings - £2020 putting me at 23.5% of target for the year, so pretty much back on track despite buying a car in January.

Wonder how much you spent on your car?? Obviously put a small dent to the savings which I am always slightly wary of.

darkidoe

bobobski wrote: »

Happy new financial year all

So, I'm declaring £485.24 for March (plus a whopping £5.02 mortgage overpayment ). However, having now bought my "new" car (on a 0% credit card, whoop!) and with a warranty to pay for, my savings going forward will be decreasing as I reallocate future savings to debt repayment. So I'm changing my target from £7,000 to £4,500 - all of which is intended to go into the emergency fund and not be spent (hopefully!!).

By the way, I'm very jealous of those saving £1,000s every month - teach me please!!

Oh do share a bit more about the car buying experience. How much less do you think you are saving less due to the cost of the car??

bobobski

darkidoe wrote: »

Oh do share a bit more about the car buying experience. How much less do you think you are saving less due to the cost of the car??

It'll be £7,000-ish over the next 2.5 years in terms of the cost of the car itself, but there's savings to be had elsewhere as it's more efficient than my old banger so cheaper fuel and tax. Insurance about the same. And I suspect at least £1,000 savings on repairs etc than the old banger, as its MOT/service was between £500 and £1,000 a year and the newer car is in better nick and covered by the warranty. And when I get round to it I'll sell the old banger - should fetch somewhere between £500 and £1,000.

All that said, I didn't buy it in any way because it was the sensible financial choice I got it (a) because we now live out in the sticks so I need a more reliable car, (b) because we are growing up and may be looking to expand at some point and that will require a bigger car, and most importantly (c) because I wanted to.

Ultimately, I spent years depriving myself of what I wanted as I was saving for a house, but now that I have the house and our finances are settled and we're still saving, it got to the point that we said "why not?". As my boyfriend put it to me, the old car was a student's car and it was just not suitable for where we are and where we're going.

I would point out, though, that I went over the maths 100 times and made sure I could afford the car and keep saving. The decision may not have been driven (haha) by good financial decision-making but that doesn't mean I wanted it to be a bad financial decision.