The "Save 12k in 2019" Thread

KeepOnKnitting

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!!!

I am going to go contrary to some others. I am saving for a big holiday, which I have booked for December. Holiday will cost me about £2,500. I have been careful and done extra work all year to work towards this. The fact that I am spending the savings as planned in December, doesn't make it any less of an acheivement for me to have saved that up. I am not counting the holiday as a minus on my savings goal.

Wentthedaywell?

Bit of an expensive month for me, so £1000 saved. I have been decorating and it involved new lighting and curtains, moving a radiator and other odds and sods so it's cost over a grand - it really adds up.

I'm also off on holiday this weekend, and though the flights and hotels are paid for, the spending hasn't been set aside, so September might be a slim month too, especially with the state of the pound!

clsmooth48

#179 declaring
July £161.85
August £2,544.06

skid112

Morning all, #88 reporting £1188.89 for August, spent money (again) on upcoming holiday, really this retirement thing is expensive to start with

bioboybill

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.

I add the money as I save it. I then deduct it as I spend it. For instance I have a holiday in October, so when I spend money on that holiday and pay my credit card off I deduct the amount from my savings.

Suffolk_lass

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.

I add in everything I move to savings plus the regular move to the ISA - so the money that is not in a pot already but comes from our income. If I then do something with those pots I don't deduct it, but I also don't include interest or dividend increases in our savings totals. Once it is in Savings it is counted. For instance I have three regular savers at £250 a month each that I don't count because the cash is being shuffled, not increased from what we receive.

I probably do it this way because that is how my spreadsheet tracker is set up. To be honest though, holidays we generally fund as we go from current, and only raid the savings if a particularly horrendous CC bill has to be paid.

Lomcevak

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!!!

My take is that I only include money that I have no direct plans to spend - it's for the longer-term financial independence goal - so if I'm budgeting for something I know i'll need to pay for (like a holiday) I wouldn't include it. As another example, i'll need to replace my car in the next couple of years, so have a couple of regular savers running for that. They aren't included in the savings that I list in this thread. But I don't think it matters, and as the varied responses show, there are many possible approaches.

Anyway, #6 calling in £5,184.49 for August, making £56,478.55 for the year so far. Settling into a routine at the moment, and reckon every month like this brings me another couple of months of early retirement

Xenon

#55 Xenon The Slightly Annoying

August £1438

Mortgage Deposit/Costs £124259

geoffers4

Lomcevak wrote: »

My take is that I only include money that I have no direct plans to spend - it's for the longer-term financial independence goal - so if I'm budgeting for something I know i'll need to pay for (like a holiday) I wouldn't include it.

Same here really - I wouldn't want to include a number in savings then immediately spend it. Generally I just pay holiday deposits etc as I go along, out of that month's salary.

This month, for example, has seen big bills for: my car's MOT, OH's car blew its water-pump on the M62 and needed fixing, and work on the house. So only reporting a modest £193.40 for August, but still on track for the year as a whole.

Happy saving everyone

Merlin's_Beard

- £1768.74

That's the planned holiday spend dragging me into minus figures (which I guess answers what I do with that). But there's also a lot of other spending hidden in that, so hopefully next month will be better.