The "Save 12k in 2020" Thread!

danby22

#141's savings for the month of May £850.  Thank you!

longhill

No 98 total for May 434.92
Running total 2599.30 
Form sent

Marina1506

Number #52 reporting £1074.87 for May.  Submitted my form and updated my signature to reflect my new total.

Still a bit behind but will hopefully make up the deficit.  I'm finding it hard to control food spends though - fewer own brand items available in some cases, and I'm sure prices have gone up too.

tommyedinburgh

Number 26 reporting £2194.71 for June. We made a steady start in Jan/Feb then when things started to go south during early March with all the COVID chat we made the decision well before the lockdown to sell one of our cars to pay off all our debt, excluding our mortgage - this gave our 'Save £12K in 2020' a turbo boost of about £3k at that time. With no debt to service we have really managed to ramp it up during Apr/May/Jun, the biggest boosts being no childcare costs due to lockdown and a wee lotto win/premium bond win.

We have booked in a landscaper to re-do the back garden, just waiting on a date so we won't be adjusting our target for now despite reaching it with June's savings.

Reg_Smeeton

Morning all, #42 calling and declaring £990.05 into the accumulating machine for May - this total was boosted with tax relief into my SIPP and a LISA bonus which has dropped in this morning after I made a contribution on the first day of the tax year. So that’s a shade under 33% of my annual target with seven months to go!

Great to read all of the other positive stories and comments. Thanks to the OP as always for their hard work administering the challenge! Form submitted.

ForestBluebells

#142 reporting £1,570.05 savings for May! I didn’t get any commission this month (and barely any coming in my next pay slip tomorrow either 😫) but I’m proud of how well I am doing. For someone who only saved £100 a month last year I've really turned things around and I’m very focused on my goals. I will smash my target this year! 

Being in lockdown has helped a bit as although I didn’t spend much on going out before lockdown i’m now not spending on petrol and it’s been a time to reflect on my future goals. 

Total is made up of contributions into my LISA (my main savings focus for the next 5 years), LISA bonus, cash savings to top up emergency fund/replacement car fund and interest earned. 

I have updated the spreadsheet 

Sandyra

Morning #147 here.
Payday today, so I’ve paid my credit card bill which is hardly nothing these days, leaving a chunk for mortgage and mortgage OP. As I’ve reached my MFW target I’m gonna keep any spare cash and put into the savings going forward. This means I can put £1000 plus £250 regular saver and £175 NatWest switching reward into the savings pot. 

I’m also contemplating doing what someone on MSE suggested of putting everything into my savings account and transferring it out for bills to maximise interest, as I leave £900 in my main current account to tide me over to the savings and bills that go out before payday. I’ll look into that as I have a few current accounts on the go. Form updated. 

Have a great weekend x

skid112

#19 reporting in for May, £1,291.80. Much better than anticipated as the house build has slowed down and expenses have become minimal now. Minus point is that storage costs will come into effect after July, though this is more than compensated for by lower monthly expenditure. Here is Spain lockdown is easing and now restaurants and bars are open so maybe a little more spending coming up. I have upped my target from £6,000 to £10,000, a challenge but should get there.

Wentthedaywell?

£6,000 saved in May, which was partly shares recovering a bit, cancelled events and an under-reporting from the end of last year. 

I started this year with a £25,000 target, lost £20,000 savings so reset my target to '0' (i.e to try get back to where I was at the beginning of the year before the loss). I've exceeded that already so will set a new (third!) target next month. I still haven't recouped all my S&S loss, and it could just be the dead cat bounce, but I'm almost there. 

slowlyfading

clarissa62 said:

Hi, #51 reporting £325.29 for May. I think this will be my best savings for the foreseeable future as I have lost my job and finish in two weeks. Future is daunting but grateful for having some savings. Sending best wishes to anyone else in the same or similar predicament. We can do this! 

I'm really sorry to hear that - I hope you find something soon and glad you've got some savings to fall back on in the meantime