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The "Save 12k in 2021" Thread!
Comments
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Well done! ! It is such a good feeling...ForestBluebells said:I finally paid off my student loan this month 🙌🙌🙌
Not sure if this would apply to you but when I paid off mine from the Scottish student loans company I had to call them to confirm that they should stop taking the payments. They told me that unless you get in touch before the last payment they will continue merrily deducting for a few months before their ancient systems realise that your balance is 0! (It was a good call - the lady on the other end said I'd made her day
) Save 12k in 2014 #55: £2900/6k 48% Save 12k in 2021: £55,533/£55k 101% Save 12k in 2022: £13,600/£12k 113% Save 12k in 2023: £1975/£6k 33%5 -
Mine was only 1.1% interest so I always just paid out my salary and nothing extra as I’ll make better return from my money investing itbecky_rtw said:Well done @ForestBluebells 😎😎
I've got one going by December and my post graduate I am thinking of using my savings to pay off as a lump sum to save myself around £1,700 in interest over the likely life time of the loan. Haven't decided what's best to do yet...4 -
I swapped to direct debit payment for the final few months so it automatically stops taking the payments at the correct timeEeeJay said:
Well done! ! It is such a good feeling...ForestBluebells said:I finally paid off my student loan this month 🙌🙌🙌
Not sure if this would apply to you but when I paid off mine from the Scottish student loans company I had to call them to confirm that they should stop taking the payments. They told me that unless you get in touch before the last payment they will continue merrily deducting for a few months before their ancient systems realise that your balance is 0! (It was a good call - the lady on the other end said I'd made her day)4 -
Yep. One of the challenges with the PG loans is that its 5.6% interest and the payments are set at quite a high earnings threshold, meaning the payments themselves are low. So you end up paying a lot in interest as it accumulates.ForestBluebells said:
Mine was only 1.1% interest so I always just paid out my salary and nothing extra as I’ll make better return from my money investing itbecky_rtw said:Well done @ForestBluebells 😎😎
I've got one going by December and my post graduate I am thinking of using my savings to pay off as a lump sum to save myself around £1,700 in interest over the likely life time of the loan. Haven't decided what's best to do yet...
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Not too late! Your number is 97poshrule_uk said:If its not to late can I sign up for this year, I have a track of all my savings already so I can supply figures for each month.
Let me know my number and can I make my target £3,500 please
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
Personal Finance Blogger + YouTuber / In pursuit of FIRE
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Spreadsheet updated
Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
Personal Finance Blogger + YouTuber / In pursuit of FIRE
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Hi slowly, my spreadsheet entry is wrong somehow as the April/may is for some reason duplicated and may total is showing in Juneslowlyfading said:Spreadsheet updated3 -
#6 1428.89 for May 21.
Save 12K in 2020 # 38 £0/£20,0002 -
£250.00 - Declared for May, sorry I have had issues trying to get on here, password issues
Westie983I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%4 -
HI SF,
#51 chuffed to report positive savings as £694.43 for June.
Always find this thread inspiring and motivational - keep going everyone 2025 financial goals & challenges!
1). Mortgage (started Jan 2024) £103,899.61 / £122,400.00 Overpayment total: £1,071.14 (Inc Sprive yr 1 o/p £19.16 & £55.34 reg monthly overpayment) Equity 27%
2). #7 Save 1p a day challenge 2025 £360/£780
3). £2,249.06/£3000 in Investment ISA (35/50 investments)
4). Increase cash savings & saving pots
5). Keep debt to a minimum.
Favourite quote: 'Life is like a box of chocolates, you never know what you're gunna get!' Forrest Gump3
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