We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The "Save 12k in 2020" Thread!
Options
Comments
-
#43 declaring £954 for Dec and since I realised I had not updated for a while have included several months of update forms. Thanks @slowlyfading for all the work you put in on this thread.
2 -
Just submitted quite a few months worth of updates.
#110: My total should be £21k
Thanks!4 -
Hello Slowly, signing off the year with an additional £400 apart from the the £950 that I managed to save at start of December. Looks like am a v tiny bit short of my target, but given the way the year has panned am grateful to get to this place. Hope 2021 turns out to be a better year for one and all!
And please do sign me up for the next year. I'll leave a message on the new thread as well.
Happy New Year to all!
Cheers!
My number is #141.
3 -
#93 declaring for December. £287.30 form submitted. Haven’t met my target but grateful to have saved anything during this challenging year. Also first year I’ve saved anything at all ! So a good start5
-
#52 reporting £1000 for December - form submitted. Just missed my target, but very grateful for all I have managed to save this year despite some big spends on our house. Will head over to the 2021 thread shortly to sign up!
Thanks slowly for running this challenge!
Save £12K in 2020 #52 £11625.33/£12,0005 -
Hi everyone,Reporting £1497.47 for December, making a total saved this year of £22,898. Very happy with that, particularly as I went part-time in August so wasn't sure exactly how much difference that would make to the savings picture. In the end the reduction in income was balanced out by reduction in holidays, for obvious reasons. Working from home since March has also saved a chunk of money on petrol - about £700. On the flip side, we've spend about £230 more than last year on groceries - when we took advantage of the socially distanced 'click & collect' service at a big supermarket for a few months, rather than my beloved Aldi frugal shop.One landmark we've reached rather unexpectedly - the total interest on savings plus returns on investments this year have equalled our basic household costs (council tax, utilities, insurance, maintenance, groceries). So a basic version of 'financial independence' I suppose.That's 8 years completed in this savings thread... and probably just 2 more years to go until I reach FIRE hopefully.So...I'll see you on the 2021 thread!Save 12k in 2013-2014-2015-2016-2017-2018-2019-2020-2021-2022 - then early-retired.8
-
£3500 for December, giving a total of £26,000 for the year. In addition, but not counted, were the planned spending of £5,000 for a deposit on a new car, £3,000 in various 'pots' and my new pension savings (which aren't much as I'm only part time).
So a good year, despite the panic as shares tumbled in March.
Thanks Slowlyfading as ever for organising this, and to Geoffers for keeping the spreadsheet archive. I hope to 'see' many of you in the new thread, it's such motivator to read your commentsSave £12k in 2022 thread #7:
Save £10,000 Jan-May 2022 THEN RETIRE!!
Final total for (half) year: -£4,0006 -
No 60 will final figure for 2020. £351.76 saved for December form is submitted and I've already signed up for 2021 so see you over there.It is the job that is never started that takes the longest to finish. Tolkien.Save 12k in 2025 No 18 365 1p challenge 2025 No 24
-
Evening all,
#42 reporting £1167.75 for December, leaving me with a total of £12,551.25 for the year, just shy of 90% of my target.
I would have got a lot closer had my car not died at the start of the month. New car + tax + MOT and increased insurance premium was not cheap all in all, but at least my fairly new-found savings habit meant I haven’t had to lose sleep over it!
Even though I’ve fallen a bit short I’m not disappointed at all, as I’ve really had a thorough root and branch review of my finances this year with the following achievements:
1) I negotiated a substantial pay rise in January, with four more years of additional increments to come (good timing... dont think I would have got it had I asked in August...)
2) Set up and maintained an automated “savings ladder” of the best paying regular saving accounts, with one maturing every few months. My emergency fund is being held at a weighted 1.74% interest, easily beating inflation and the best easy access rates.
3) In February, I transferred an old works pension into a SIPP and restarted contributions.
4) I managed to not do anything stupid with my LISA in March/April. I need fact, I sold some gilts and bought some more equities near the low point, which looks like a good decision. My first experience of volatility, pleased and fairly surprised that I never felt too uncomfortable?
5) I decided to make extra contributions to my LGPS pension, which started in October.
Many thanks for all the hard work put into this by the OP. It has certainly been a massive help to me this year.Save £12k in 2020 #42 £12,551.25 / £14,000 89.65%5 -
george4064 said:george4064 said:#21 reporting £1,098 for October.
Nothing major to report, just continue to shuffle savings around to run away from rates dropping everywhere!
Same as last month really. Shifted NS&I Income Bonds to Marcus (now earning 0.7%, but soon dropping to 0.5%), and on a brighter note my S&S ISA had a stonker of a month up 6.3% over the month of November! (I don’t any investment gains/losses in this challenge, just what I save).
Great to see others keep going with their challenges and always so motivating to be saving alongside so many of you, nearly there guys!!
October, November and December all slightly lower figures due to general Christmas expenditures, but pleased the figure has remained relatively constant without large swings. Working-from-home has definitely been a factor to my savings, a number of things I no longer do which has been saving me;
- Travel (c. £100pm)
- Buying lunches at work (c. £50pm)
- Reduced socialising, saving on drinks, eating out etc...
S&S ISA had another bumper month producing a +4% return for December and 11.5% total return (17.9% XIRR) in total for 2020, however this figures aren't included in this challenge. FTSE Global All cap (which my LISA will be shortly invested in) returned 11.5% for 2020.
Have just opened my first S&S LISA which I will be using as a backup/side pension pot to act as a sort of 'hedge' in case pension rules are drastically changed in the future which makes pensions much less attractive (and hence LISAs more attractive) as a retirement option. Going forward I will still be contributing much more to my pension pot than the LISA pot. Will keep the LISA pot 100% passive whilst I continue actively managing my larger S&S ISA portfolio.
I remember reading somewhere that unprecedented (never done or known before) is the word that has seen the biggest increase in use this year, and that does sum up this year very well. This year certainly saw the biggest market volatility I have ever experienced (February and March 2020 both down 10% each), whereas before then the biggest monthly drop I had experienced was back in June 2016 where my ISA was down 4.3% (remember that thing we all voted on to leave that European institution!?) Thankfully I held my nerve and bought into the dips, which have certainly proved fruitful (I wish I was bolder and bought more! haha) but I do feel extremely grateful for having a job and have pulled through 2020 relatively unscathed. I know many people have lost loved ones, their jobs etc, we must all try stay positive as we pull through this together.
Now hopefully a distant memory as we look forward to 2021 with an agreement with the EU done & dusted, and vaccines rolling out across the world. Massive thank you to SF for organising the thread and thank you to everyone else who participated, for your support, encouragement and kind words. Here's to 2021!"If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)4
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards