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The "Save 12k in 2020" Thread!

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  • imajica37
    imajica37 Posts: 162 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I'm gutted to be so late to the party, I got number 13 last year lol

    Can I please join again and be put down for £6,000

    Thanks so much for your hard work slowlyfading. I have surpassed my target every year that I have done this challenge and I am sure that it is helping me lot to have something to aim for.
    Save £8,000 in 2023 #10: £49,148/ £8,000 :j
  • slowlyfading
    slowlyfading Posts: 13,429 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    savingmore wrote: »
    thanks, how do i discover my number?
    If you click on the link in the first post that says about totals so far, you're near the bottom :)


    ETA: your number is 84 :)
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
    Personal Finance Blogger + YouTuber / In pursuit of FIRE
  • slowlyfading
    slowlyfading Posts: 13,429 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Spreadsheet updated - sorry about the lack of updates form. I can't remember how I do them :o so it will be added as soon as I work out how!
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
    Personal Finance Blogger + YouTuber / In pursuit of FIRE
  • bsms1147
    bsms1147 Posts: 2,274 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Let's try and guess how much we'll save by the end of 2020? Whoever's closest gets the drinks in.

    I've taken a look back over all the years since 2012 (data below) and interestingly the general trend is the average amount targeted per person is increasing year on year, as is the amount actually saved per person come the end of the year.

    The total amounts targeted each year and the amount actually saved come the end of the year is generally trending upwards, despite the number of users slightly falling with time.

    M7rjodj.png

    NXKaKgP.png

    So with that all said and based on a few assumptions I estimate we'll end 2020 on £1,133,495.27, but I'll claim a win if its a few pence either side of that...
  • Mnd
    Mnd Posts: 1,699 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    Good day today, about £10 in interest received, worked today so that's £55 in the pot, and 54p on my solar panels.:T:T
    No.79 save £12k in 2020. Total end May £11610
    Annual target £24000
  • gien
    gien Posts: 1,649 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Hello, I’m late to the party but can I join please? I have a number of savings goals and 12k would cover them all I think.
    We have been away but all back to normal tomorrow so I’ll
    Be doing my new year financial stocktake and make a first transfer to my savings.
    Trying to keep in budget.

    2270
  • Hi
    Number 71 checking in with a quick update
    £300 to savings. Hoping to top up at the end of the month
    Thanks
    On a mission!

    2018 & 2019 MFW #138

    On babystep2 (#DR)
  • apau77
    apau77 Posts: 28 Forumite
    Fifth Anniversary 10 Posts Name Dropper
    Hi Slowly fading,

    Can I join the challenge please?

    My target is 12k
  • Can I join, please.

    I am aiming for £50K. As I am self-employed, I am going to count regular savings as well as grossed-up contributions to my SIPP.
  • geoffers4
    geoffers4 Posts: 263 Forumite
    Part of the Furniture 100 Posts Name Dropper Mortgage-free Glee!
    bsms1147 wrote: »
    Let's try and guess how much we'll save by the end of 2020? Whoever's closest gets the drinks in. I've taken a look back over all the years since 2012 (data below) and interestingly the general trend is the average amount targeted per person is increasing year on year, as is the amount actually saved per person come the end of the year. The total amounts targeted each year and the amount actually saved come the end of the year is generally trending upwards, despite the number of users slightly falling with time.

    So with that all said and based on a few assumptions I estimate we'll end 2020 on £1,133,495.27, but I'll claim a win if its a few pence either side of that...

    Interesting analysis bsms! I'm surprised at the no. of savers slightly falling each year - anyone got any ideas why?

    The other big factor is the no. of people who start a year but don't finish it. Obviously this can happen for lots of reasons, and generally we never hear from these people again so don't know their particular reason. But if I can be bothered(!) I might try to see if there is any underlying trend for completion rates.
    Save 12k in 2013-2014-2015-2016-2017-2018-2019-2020-2021-2022 - then early-retired.
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