The "Save 12k in 2020" Thread!

YouWithTheSadEyes

Hi SF
Could you add me with a target for this year of £8,000?
Many thanks in advance.

HCIMbtw

ermm i'd like to be involved please.. Providing nothing unexpected happens plan to save £10,800 but hoping for more!

tommyedinburgh

Really looking forward to this starting, does anyone have a definitive list of what counts, for example do folk include work based pension contributions etc?

garfield33

Hello, please can you put me down for £7k? Nowhere near it this year, maybe next year!
Thanks again for running this

Wentthedaywell?

tommyedinburgh wrote: »

Really looking forward to this starting, does anyone have a definitive list of what counts, for example do folk include work based pension contributions etc?

There's no rules on this forum, Tommy, right rebels we are!

Everyone counts things differently. Personally I don't count pensions, mortgage overpayments, or money that's earmarked for particular spending later on, but others do.

Just be consistent to yourself and do what makes sense to you

Suffolk_lass

tommyedinburgh wrote: »

Really looking forward to this starting, does anyone have a definitive list of what counts, for example do folk include work based pension contributions etc?

Wentthedaywell? wrote: »

There's no rules on this forum, Tommy, right rebels we are!

Everyone counts things differently. Personally I don't count pensions, mortgage overpayments, or money that's earmarked for particular spending later on, but others do.

Just be consistent to yourself and do what makes sense to you

Yes, I echo this. Whatever works for you. I did not count my pension contributions (deducted before tax and before it reached me) or the growth in my investments or savings - just the "active" bits I squirrelled away from my received income, be it regular savers, S&S ISA or Tilly Tidying (rounding down to the nearest £10 in my bank accounts).

Now we are not working I am going to include loyalty payments, cash-back, interest and dividends but not the shuffling of capital into saver accounts (only the bit they increase by). Once I have counted it as savings it is up to me what I do so I do make some OP to mortgage from accumulated bits and pieces and don't take it off.

tommyedinburgh

Suffolk_lass wrote: »

Yes, I echo this. Whatever works for you. I did not count my pension contributions (deducted before tax and before it reached me) or the growth in my investments or savings - just the "active" bits I squirrelled away from my received income, be it regular savers, S&S ISA or Tilly Tidying (rounding down to the nearest £10 in my bank accounts).

Now we are not working I am going to include loyalty payments, cash-back, interest and dividends but not the shuffling of capital into saver accounts (only the bit they increase by). Once I have counted it as savings it is up to me what I do so I do make some OP to mortgage from accumulated bits and pieces and don't take it off.

This is exactly what we will do! We are determined to get off to a good start, however, January is likely going to be a total pain in the neck!

pip2468

Hi, I'm another long time lurker who would like to sign up for this challenge! I'm aiming to save £5,000 in 2020.

Thank you, slowlyfading, for running this thread

geoffers4

Wentthedaywell? wrote: »

There's no rules on this forum, Tommy

...well...apart from the 3 rules stated on post #1 at the top of the page!

Wentthedaywell?

geoffers4 wrote: »

...well...apart from the 3 rules stated on post #1 at the top of the page!

:rotfl:Touche Geoffers! Though I'd prefer to see them as parameters!