The "Save 12k in 2020" Thread!

ChasingSunshine

Little behind but #42 declaring £1063.50 for March. Update form filled in. I'm fortunate enough to still at work and on usual pay so able to keep my original target. Hope everyone is staying safe. 

KeepOnKnitting

Jazee said:

Just posting to say I am withdrawing from the thread for the rest of this year.  Already in negative.  Hopefully things will be better next year.

Hey Jazee,
I don't think you will be alone in being in the negative at the moment. This thread is here for you if you still want to be part of it. Lots of us here are saving for a rainy day, and right now it is raining for a few people. It's all part of the savings journey, so don't feel that you need to leave the bus. Just adjust your target and keep doing your best. Others have set a savings target of zero overall for the year. You have our support whatever you choose.

cathybird

hi all, no. 10 here reporting a total of £1,769.37 for March, bringing my total for the year so far to £3,477.46. Sorry to be late with this update, not sure why it took me so long this month!

darkidoe

#38 darkidoe
Reporting
£ 1424.44 for February
£ 2410.18 for March
It's madness with everything that is going on. We just have to keep going! Stay Safe everyone!

Merlin's_Beard

Popping in to say a massive THANK YOU to everyone in this thread.

Am being furloughed. Have savings from previous years challenges. Am already spending less than 80% of my take home anyway, because this challenge and everyone on it helps me to stay accountable for my current spending. It's all contributing to me feeling a whole lot stressed about the whole thing. I might end up digging into what should have been a house deposit, but there will be future challenges to rebuild that.

So thank you all for the company in this and I will be reporting a woeful total that in no way meets my goal from next month onwards.

lantanna

Merlin's_Beard said:

Popping in to say a massive THANK YOU to everyone in this thread.

Am being furloughed. Have savings from previous years challenges. Am already spending less than 80% of my take home anyway, because this challenge and everyone on it helps me to stay accountable for my current spending. It's all contributing to me feeling a whole lot stressed about the whole thing. I might end up digging into what should have been a house deposit, but there will be future challenges to rebuild that.

So thank you all for the company in this and I will be reporting a woeful total that in no way meets my goal from next month onwards.

Yes I’m sure there are a lot of us who share your view. I am really thankful to have savings to fall back on should I need them. If you can still save that’s an achievement in itself. 

Mnd

Thank you Merlin for your post. Good to see you are remaining upbeat. I feel guilty because we are both still working as usual , spending nothing and getting refunds on my wife's birthday celebrations being cancelled. So our savings are doing OK but for all the wrong reasons 

ilselm

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

Jami74

I am in the very fortunate position of still having a job and an income. Outgoings haven't really changed much I don't think, I have probably spent a little more on food, but that is balanced out by not driving somewhere for a dog walk (seems almost absurd that I'd have done that!). I don't think my teens have realised that things can still be purchased online and delivered    I am quite pleased with the £7.70 I earned in interest last month. A little jealous in awe of the figures some people submit, I would love to be able to save an amount that is currently more than my monthly income. 

I have totally confused myself with 'savings' though, reporting an increase or decrease in cash balance rather than how much certain accounts have increased by and being switched from weekly to monthly pay, but I am learning valuable lessons along the way. 

My target was very ambitious and picked before my income was reduced and I'm currently on a minus (as in my cash balance is lower now than it was beginning of the year, my actual cash balance is still positive), but we still have 8 months left.

Mnd

Jami, no need to be jealous. Our ability to save has been the commulation of years of financial discipline. I am 66 next month and I am fortunate to have my state pension, occupational pension and still do 2 days a week work. My wife turned 60 last month and still works full time. We don't have teens! Or pet's. We have no debt or mortgage so it would be shocking if we weren't saving money for our old age. If you get the basics right then eventually you will be in a good position to make savings and secure your finances.