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The "Save 12k in 2020" Thread!

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  • cathybird
    cathybird Posts: 15,613 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Evening all, number 10 here reporting £885.41 for the month, bringing my yearly total so far to £6,608.99 :)
  • steves_uk
    steves_uk Posts: 50 Forumite
    Part of the Furniture 10 Posts Photogenic Name Dropper
    In the spirit of paying myself first, savings contributions for August are as follows (I've updated the easy update form):

    DD JISA - £103
    DS JISA - £103
    Sharesave Scheme - £220
    Sharematch Scheme - £30
    Personal ISA - £400

    August total - £856
    2020 total - £5,966

    Bit of a rubbish month this month. 8 months into 2020 and I'm only on ~£6k. Need to save an average of £1.5k per month now to hit my target. The saving grace might be a small bonus coming later in the year and a tiny pay rise - every little helps!

    Does anyone else count their pension payments towards this? If so how do you calculate it considering it's taken before tax?! When people talk about what a good 'savings rate' is, do they generally include any pension payments?

    TIA
    Save £12k in 2023 #51 - £20,411.96/£15k (136.08%)
    Save £12k in 2024 #24 - 
    £19,331.23/£20k (96.66%)
    Save £12k in 2025 #53 - £12,395/£20k (39%)

    I built a new salary tool to help explain deductions and tax brackets. Try it here: salarytools.co.uk
  • geoffers4
    geoffers4 Posts: 263 Forumite
    Part of the Furniture 100 Posts Name Dropper Mortgage-free Glee!
    Hi everyone, a pretty exciting month - July saw us eating out for the first time since March. Well actually just ice-creams from the local specialist ice-cream makers for the grand sum of £9.40! Don't know about you, but I still don't feel comfortable about a pub lunch indoors, so the eating-out line on the spreadsheet is looking very sparse. Which meant a saving figure for July of £2146.68.
    In other news, today marked my last day as a full-time employee - I'm reducing to 4 days a week now, all part of preparing for FIRE in two year's time. Looking forward to 3-day weekends from now on!
    Save 12k in 2013-2014-2015-2016-2017-2018-2019-2020-2021-2022 - then early-retired.
  • Betharooni
    Betharooni Posts: 480 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    Hi

    #6 reporting in with savings of £1,554.81 for July. Total for year-to-date is £9,276.69. Well on course to hit £15,000 target for the year. Annual pay rise will take effect from the payday at the end of next month so should get some backdated pay and a few extra pennies each month so am really looking forward to that 🥳

    Form sent
  • Gizmo70
    Gizmo70 Posts: 138 Forumite
    Part of the Furniture 100 Posts
    #25 reporting in for July (form submitted). This month I managed to save £511. Total for the year so far is £7,613.
    I am expecting August, October and November to be fairly poor months for saving due to various upcoming annual bills (insurance, car servicing, etc) and I suspect that I will miss my current target (£10,500).
    Still job hunting but market seems fairly down.
    Save £12k in 2023 #17: £19,085/£24,000 (79%)
    Save £12k in 2022 #5: £18,007/£18,000 (100%)
    Save £12k in 2021 #17: £18,012/£18,000 (100%)
    Save £12k in 2020 #25: £15,522/£15,000 (103%)
    Save £12k in 2019 #112: £10,963/£10,500 (104%)
  • Lomcevak
    Lomcevak Posts: 1,026 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    geoffers4 said:
     Looking forward to 3-day weekends from now on!
    3-day weekends are great - my company switched to a compressed work week a few years ago, so we have longer working days (no reduction in overall hours) but each Friday off, and i'd find it hard to go back. Four-day bank holiday weekends even better :smile:
  • Suffolk_lass
    Suffolk_lass Posts: 10,270 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 1 August 2020 at 9:59AM
    Lomcevak said:
    geoffers4 said:
     Looking forward to 3-day weekends from now on!
    3-day weekends are great - my company switched to a compressed work week a few years ago, so we have longer working days (no reduction in overall hours) but each Friday off, and i'd find it hard to go back. Four-day bank holiday weekends even better :smile:
    I used to do a compressed week with 9 in ten and every other Friday from home. It worked really well until the last year when the project I was working on went completely bonkers and I ended up doing 12 hour days every Friday, just to try and stay on top of things.

    @steves_uk Now not working my savings amounts are reduced. Just over £500 is a good month for us although £250 of this is a regular saver from my occupational pension income, the rest is Tilly tidies and dividends. I don't count anything else, just the money I actively squirrel away
    Save £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
    OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My new diary is here
  • I'm going to reduce the amount I reported earlier in the week as shares are on their way down again  :s

    Will adjust next month up or down!
    Save £12k in 2022 thread #7:

    Save £10,000 Jan-May 2022 THEN RETIRE!!
    Final total for (half) year: -£4,000
  • Well done all on your savings! keep it up!
    Due to working from home and reduced spending I have reached my target for the year! Now focusing on keeping the savings up to see by how much I can beat it!
    Save £12k in 2020 = £4,074.62/£15,000 (27.2%) #89
    Save £12k in 2019 = £13,580.52/£15,000 (90.5%) #92
    Save £12k in 2018 = £17,189.12/£15,000 (115%) #36
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