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The "Save 12k in 2020" Thread!

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  • #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.
  • Just submitted quite a few months worth of updates.
    #110: My total should be £21k

    Thanks!
  • danby22
    danby22 Posts: 78 Forumite
    Part of the Furniture 10 Posts Name Dropper
    edited 28 December 2020 at 10:34PM
    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.

  • 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 2
  • george4064
    george4064 Posts: 2,928 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 31 December 2020 at 12:22PM
    #21 reporting £1,098 for October.

    Nothing major to report, just continue to shuffle savings around to run away from rates dropping everywhere!
    #21 reporting £1,088 for November.

    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!!


    #21 reporting £968 for December, which means my 2020 total is £17,585 vs target of £15,000 (117%).

    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%)
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