The "Save 12k in 2022" Thread!

juststuff123

Hi, Juststuff here

I'd like to join again, £15k target please. No number preference.

Thanks

enthusiasticsaver

Goodness there are some big targets this year.  I have been fiddling about with spreadsheets to  set a budget for next year.  Our gas and electric direct debits have gone up and I have worked out how much we need to save monthly to cover car maintenance, holidays, gifts (christmas and birthdays etc) and house maintenance.  My £3k annual savings target is for unallocated savings.  We also plan to save £500 each month to cover the car/house/gifts/holidays but won't include in this challenge as we will be drawing on it throughout the year. 

So rough budget is  approx £600 per month on utilities/council tax etc.  £250 regular saver. £600 personal spends (£300 each). £500 savings pots for car/house/holidays/gifts leaving £1000 for spending on food/fuel/entertainment.  Anything left from the £1k monthly spends will also go into savings each month. 

How do others decide on how much to save? 

inkie1

Could you put me down for 15K please? Are we including just normal saving or investments and pensions? 

Jami74

Please can I join again? £3k target. 

The 2021 challenge really taught me the difference between budgeting and saving.

Shineyhappy

I’m really excited about this challenge this year. I am really hoping that we aren’t going to be spending too much on the house refurb this year as that is where the majority of our funds go. I know we have added a lot of value as we had it valued and that’s a good thing, it just means less we can invest or put into pensions.

@inkie1 I personally am happy with my current cash savings, so for me the challenge is about my S&S ISA and pension payments. 

enthusiasticsaver

I think it is interesting to see what others are saving for. @inkie I would think that pensions etc should be included if you are in the accumulation stage but I am just counting cash savings. We have set our savings target relatively low £3k as we are already early retired so don't tend to invest any more in pensions/stocks and shares isas so are in spending/drawdown stage rather than accumulation. 

Our cash savings are for large gifts to  our daughters (or loans in one case), car replacement/home improvement or long haul holidays. We keep a £10k cash emergency fund and the remainder of our  cash savings are for the above so the £3k will be added to that.  We also save during the year for car maintenance, christmas, insurances, short breaks and general household repairs  etc but don't include that in this challenge.  

Kittencat

I'm new to the savings.  We are debt free after renovating our house 5 years ago and now it's time to save. 

This is a brilliant way to keep motorvated and learn new skills. 

Please may I join with 6K to save this year. 

foxy78

Hi
I'll like to join this year 12k target please
Thanks

Munchkinsmum

Could I join? I’ve never done one of these before. Do savings into a LISA count? 

I’d like to aim for £8400

Dairydodger

Hi slowlyfading

Could I join please? I would like to save £5000

Thank you