The "Save 12k in 2021" Thread!

longhill

No 98 in 2020 can i please join again will have to be a smaller amount this year as i am living of saving so £4000 for me if thats ok

jen49

slowlyfading said:

jen49 said:

Was seriously thinking of finishing work next  year but I'll join again if you'll have me

Of course! What do you want your target to be?

I'll stick with 12k for now

try_harder

Please could i join in ..My target is £20,000..Many thanks

greent

Hi sf - I'd like to join this year, please We have several savings things going on but some will have withdrawals this year due to some work being done on the house. Do I report my.monthly figure as the net increase in savings in our accounts for the month? - otherwise if I did gross but then took out 20k for the building works it would be a bit skewed? And are SIPP contributions included?  

I'm probably overcomplicating this for myself ......  Will set target when I figure out of I'm doing net/ gross figures x

george4064

greent said:ŵ

Hi sf - I'd like to join this year, please We have several savings things going on but some will have withdrawals this year due to some work being done on the house. Do I report my.monthly figure as the net increase in savings in our accounts for the month? - otherwise if I did gross but then took out 20k for the building works it would be a bit skewed? And are SIPP contributions included?  

I'm probably overcomplicating this for myself ......  Will set target when I figure out of I'm doing net/ gross figures x

It’s completely up to you, there are no set rules so to speak. 

If it helps, here’s what I do;

I count my net increase (or decrease) over a month, so includes negative balances such as credit card balances. However if I have specifically saved some money for a holiday for example, I tend to not mark the payment for said holiday (reduction in savings balance) as a negative. I consider that planned healthy spending, whereas something like a spontaneous meal out or a randomly buying a new PS4 game I would let that ‘eat away’ at my savings.

Pension contributions - I don’t count my core contributions nor employer contributions, I only count AVCs towards my savings goal.

garfield33

Hello SF, please sign me up again! I finally achieved my target this year so I'll up it for next year - £9k please.

imajica37

Hi, can I please go again with £6,000. Thanks so much for doing this for us all, it is appreciated.   

geoffers4

greent said:

Hi sf - I'd like to join this year, please We have several savings things going on but some will have withdrawals this year due to some work being done on the house. Do I report my.monthly figure as the net increase in savings in our accounts for the month? - otherwise if I did gross but then took out 20k for the building works it would be a bit skewed? And are SIPP contributions included?  

Hi greent - the rules are pretty simple and laid out on post 1/page 1.  Lots of people report negative figures in the months they have big spends like your building work, and then other people prefer to have separate pots - a "savings pot" and a "building work pot". On pensions - I don't include my PAYE pension deduction because I never see that in my bank account, but I do include AVCs.

letiss7

Thanks for running this again Slowlyfading. I would like to take part with a target of 12k.
Sorry I see I have already  been added to the 2021 challenge so please ignore my request but the thanks is still the same

kierrasofia

Hi slowlyfading, can I take part? My target is 12k. Thanks