The "Save 12k in 2020" Thread!

Lomcevak

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Wentthedaywell?

Lomcevak said:

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Brilliant, Lomcevak! The feeling of one shackle off and next -FIRE! 

Sandyra

Morning everyone, payday today. I went away twice in February, so I didn’t book any holidays to get any refunds. Plus a bit of retail therapy to treat myself as I’ve spent hardly nothing over the lockdown period. So only £1000 for June. Being a bit conservative, I may come back and add to it once all my bills come out on July. 

bobobski

Lomcevak said:

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Congratulations Lomcevak!!!  That's so exciting, well done you! 

Merlin's_Beard

Lomcevak said:

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Congratulations! That's a fantastic achievement 

SuperLooperSaver

Congratulations Lomcevak on becoming mortgage free.
I've submitted my form - £711.79 for June, which includes £250 LISA bonus.  My June total is about £400 higher than last June.

Gizmo70

#25 reporting in for June (form submitted). This month I managed to save £978 (mainly due to some dividend payments). July shouldn't be too bad but I am expecting August and September to be fairly poor months for saving due to various upcoming insurance payments. Still job hunting but market seems fairly flat.

george4064

george4064 said:

#21 reporting £1,629.16 for May.

No new S&S ISA contributions but the prices have certainly bounced back from the lows in March! I'm feeling quite 'on the fence' at the moment as stocks are in a raging bull at the moment but I think that upwards movement is very fragile and can easily come back down. Therefore I continue to make small monthly contributions and hence majority of my monthly savings are held back in cash ready to move into my S&S ISA should there be another fall soon. Whilst I actively manage my S&S ISA to the extent I do as described above, I simply leave my DC pension with the normal contributions into global equities.

My final few 5% regular savers have matured and am now settling in with 2.75% as my highest regular saver rates. Currently have HSBC (2.75%), FD (2.75%) and Halifax (2.0%) regular savers in place, having recently closed the Coventry BS regular saver after it reduced the interest rate down from 2.5% to 1.85%.

I have stuck with Marcus and will continue to do so, I really like it as my instant access account and never had a problem with them. Meanwhile I have taken up HL's £25 Active Saving offer and stuck £5,000 in a Metro Bank 1 year fixed 1.20% account, having just missed out on Close Brothers 1.35% 1y fix!

Also switched my energy provider to a cheaper 1 year fix, I expect that to save us £120 a year. Every little helps!

Form submitted. Keep saving fellow MSE'ers and hope you all have a lovely weekend in the sunshine! 

#21 reporting £1,128.31 for June

Definitely does seem that my monthly saved figure has increased since lockdown, good or bad I am trying to just crack on with things. There are times when I struggle mentally with this lockdown, feeling frustrated, bored, trapped but I've just go to try stay positive. I have started a new project by creating a website/blog which will be about millenials investing for their futures, if anyone is interested please get in touch and I will send you the URL once its up and running (expect August 2020 launch).

I made my first mortgage overpayment this month which was exciting, moved some money from instant access to S&S ISA in early June and the amount I am paying into AVCs increased with my salary increase that took effect this year.

Form submitted. Happy saving everyone, keep going and we can get through this together. 

Gem-gem

Lomcevak said:

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Congratulations on becoming mortgage free. It is a big weight off the shoulders. 

Good luck with your new plans. 

Sistergold

Lomcevak said:

#27 reporting in with £3,760.42 for June. Exciting news is that i'm now mortgage-free, 12 years early, and about 8 1/2 years since I first signed up for one of the MFW challenges. Once a bit of short-term expenditure is complete to do some needed decorating and maintenance, the focus now shifts over to FIRE planning - hope to be in a position to make some lifestyle adjustments within the next five years or so.

Oh 🤩 welldone!