The "Save 12k in 2019" Thread

Tiglath

#120 reporting £3658.36 for July - also submitted a form.

Lomcevak

Lomcevak wrote: »

#6 with £4,278.15 for May, total of £40,230.63 for the year so far.

Realized that I haven't been good at updating; I managed £5,178.95 for June and £5,284.48 for July. I also messed up May, which was £4,578.15 and not £4,278.15 as above - missed a regular saver, oops. Total year to date is £51,294.06, and will tick past our 2019 target of £60k in September - stretch will be £75k, but will probably fall just short.

Currently saving about 70% of our joint income most months. What's nice is that we don't really feel particularly constrained by what we do live off, which is good for the FI/RE calculus, and we're starting to zero in on what our long-term target income would be. Slowly starting to feel a realistic goal

AlexDee

I missed declaring my July numbers so two months in one for me here.
I saved a little overzealously in July which left me a little illiquid in August. I ended up having to pull some money back out of one particular savings account (my holiday fund) in order to pay for some one off bills. As I’m updating late, I’ve simply removed it from the total!

As a result, I’ve altered when I do my saving from my pay (I’ll wait until I’ve cleared my credit card bill a few days later) and as such August is a bit lower. But it should pick up again from September.

So, declaring savings of £698.68 for July and £438.68 for August.

And now for a question.......some of the money being saved is going in the aforementioned ‘holiday fund’. That holiday is at the end of September. When you spend that money, do you then minus that from your savings for that month? Or is it ok to leave it as it was saving for a specific spending purpose? Just intrigued to see what people do here!!!
Thanks.

Al.

Gizmo70

AlexDee wrote: »

And now for a question.......some of the money being saved is going in the aforementioned ‘holiday fund’. That holiday is at the end of September. When you spend that money, do you then minus that from your savings for that month? Or is it ok to leave it as it was saving for a specific spending purpose? Just intrigued to see what people do here!!!
Thanks.

Al.

Personally I minus that from my savings, for example one of my savings pot is for annual bills (usually insurance or subscriptions). The other option would be to exclude that pot completely from my savings total but because it is just a virtual pot that wouldn't be straight forward.

AlexDee

Gizmo70 wrote: »

Personally I minus that from my savings, for example one of my savings pot is for annual bills (usually insurance or subscriptions). The other option would be to exclude that pot completely from my savings total but because it is just a virtual pot that wouldn't be straight forward.

Thanks Gizmo. I’ll probably just deduct it from my savings total then as I’ve already been counting money I save for it.
I was curious because if people are saving for a house deposit etc, they may save £20k but then minus it when they buy!!!

skid112

AlexDee wrote: »

And now for a question.......some of the money being saved is going in the aforementioned ‘holiday fund’. That holiday is at the end of September. When you spend that money, do you then minus that from your savings for that month? Or is it ok to leave it as it was saving for a specific spending purpose? Just intrigued to see what people do here!!!
Thanks.

Al.

Personally if a regular saver matures I usually have it earmarked for something I still count the interest received but do not deduct the total.

excelwizard

Declaring £425.66 for August - a little lower than expected as I've paid out for some physio and dentist appointments

kev2009

Hi,

#003 declaring £500 for August. I've submitted the form also.

Many thanks

Kev

Duckyduck

#36 reporting £1347.47 for July. A little surprised by that as while there’s been no major outlay it’s been quite a sociable month with loads of little spends which I thought would add up to more.

Suffolk_lass

Just posted my update form for August £807.93.