The "Save 12k in 2020" Thread!

ForestBluebells

It’s so interesting to follow this thread. I’m excited for the end of the month so I Can total up my savings 🙌

Jami74

darkidoe said:

I count difference in balances. I record cash balance at beginning of each month and subtract the latest figure from the number from the month before. To me, a positive  addition to the total cash balance is savings. 

That's how it's counted on my spreadsheet which is updated daily so fluctuates throughout the month. It would be the simplest way to record it here, however at this point in time (due to job change and weekly to monthly pay) my savings for the year so far would be minus 

Miss_Blackstone

I’m going for £12k this year too.  I already have £3k so £15k in total by 31/12/20.

I’m saving to give me some buffer if I decide to start a family and if not... a new house!

funkymonkey

payday this week and a few pounds in my wallet to last me until then. So number 113 reporting:
£2516.50 added this month. Brings my total to £7100. Lots of high cost spends coming up such as car insurance which i like to pay for in one go so will probably only be reporting my LISA interest and government bonus next month but its all good
Form submitted

Mnd

Always something isn't it. The coffee machine packed in today.. 3 months old so have to chase up to get our money back. On the savings front I will do a check tomorrow which should give me a provisional figure for February 

funkymonkey

Mnd said:

Always something isn't it. The coffee machine packed in today.. 3 months old so have to chase up to get our money back. On the savings front I will do a check tomorrow which should give me a provisional figure for February 

yup there is always something! although its nice to know there are savings in the bank for when these things happen

slowlyfading

tommyedinburgh said:

My wife and I were chatting again last night how helpful and motivating this seems to be for us, can't thank everyone and especially Slowlyfading enough.

You're welcome

slowlyfading

Spreadsheet updated

darkidoe

Jami74 said:

darkidoe said:

I count difference in balances. I record cash balance at beginning of each month and subtract the latest figure from the number from the month before. To me, a positive  addition to the total cash balance is savings. 

That's how it's counted on my spreadsheet which is updated daily so fluctuates throughout the month. It would be the simplest way to record it here, however at this point in time (due to job change and weekly to monthly pay) my savings for the year so far would be minus   

I do it manually monthly. I admire people who can update it daily but it's just not so worth the effort for me at this point. I think knowing that you are in negative balance is a good starting point. It is where you are aware of things has to change before it gets out of hand. I see that as a strong positive point. Hence the importance of recording balances regularly.

Queen_of_the_Hive

Darkidoe - I'd agree with you re the negative balance. I'm just at the beginning of getting myself straightened out financially after not working to raise my kids & although I'm recording very minor savings or £57 last month, I'm also tackling debt too which is just as exciting. I must admit I keep my spreadsheet updated daily. It's a bit of an obsession.