The "Save 12k in 2020" Thread!

longhill

N0 98 figure for feb £431.06 total for year £1426.34 form sent

Jami74

I've had to submit a minus number for February, which puts me down on the year so far It's just cash flow due to a change of job though so I'm confident by end of April I'll be back on track. My original target of £9,600 will likely be a bit of a stretch now I've changed jobs but I'm keeping it for the moment because I'm hopeful and determined.

A_Random_Man

#37 Reporting a total of £1137.14 for February, march will be much higher as I get a bonus which most of it will be transferred to savings 

KeepOnKnitting

I haven't done too badly this month, and I am almost ready to advertise for a lodger, which will help.  

bobobski

I'm checking in to report £380 for February.  It's been a very tough month so I'm pretty happy with this.

Fingers crossed March will be better - this figure is still well below my monthly target...

I joined this challenge a few years ago to help me save for a house, and it sounds like a bunch of you are currently saving for that purpose, so to help to give an idea of finances a year after house purchase (in case it's helpful for any of you!) I thought you might like to see the following:

•  Savings: The £380 this month is split as follows: £125 joint emergency fund, £155 personal savings (this is the part that's suffered this month due to various one-off "life" (not "fun"!) costs), and £100 S&S ISA.

• Loans: I've just updated our furniture-and-car-loan repayments spreadsheet to account for increased overpayments, and we're now 542 days away from being debt-free (vs scheduled date which is 1,063 days away) - hoorah!  Everything is 0% and easily affordable, but once they're all paid off our savings will soar, so I can't wait!  (In total we're paying about £870 p/m in loan repayments at the moment between us, of which £635 is mine (£400 p/m for the car @ 0%, to be paid off in December)).
• Mortgage: Overpaid by £50-odd in addition to this savings figure.
• Investments: £100 of my monthly savings has gone into my new S&S ISA - without wishing to sound callous about what's happening in the world right now, stocks and shares are currently on sale...
• Pension: I'm maintaining a 10% gross contribution to my pension (+ 5% from my employer), and the pot is growing nicely.

I have no idea if that's helpful at all, but for some reason I felt compelled to share - although perhaps this was justification to myself for my low monthly savings figure compared to some of those being reported!!

tommyedinburgh

#26 reporting £1513 for March. Out of the current account and out of sight, the strategy of getting it moved early in the month is working for us. 

sonas_baby

Hello no.60 reporting in with a saving of £431 for February, better than I hoped.

Karen's_girl

# 48 reporting £200 for March. I am not at the stage yet so far this year where I can save more but I am hopeful that will change in a few months. 

Merlin's_Beard

£988.08 for February, pretty good going though won't be able to keep it up - been a very quiet month.

ilselm

#31 here having submitted the form with a £8,855 update for March. Thanks,