Tilly Tidy 2022

Naomim

Last year some of us took up the mantle of Tilly Tidying our bank accounts.  Some of you may do this already but don't realise it!  

The general idea is that daily or weekly, you round down your bank account to a nice number ending in 00 and pocket the rest into savings, off a bill, mortgage, credit card.... you choose.

Last years challenge was to tidy £1825 which is a mighty challenge to take on but that doesn't mean you have to aim for this amount. You can choose how much you want to try and achieve. There is no right and wrong with this challenge. Just a bit of fun to squirrell those pennies away to good use.

Some bank accounts have a rounding option so everytime you spend it will round it up to the nearest £1 and deposit the difference somewhere else. This is the option I use.

The aim is to get into the habit of Tillying away the little bits you don't notice but would ultimately spend.

To save £1825
Move any change less than £10 into on-line savings (I use e-savings with same bank, little to no interest but out of the Current Account).

So if your balance is £754.32, move £4.32 to savings, leaving £750...

Average will be £5 a day, which gives £1825 average at end of the year.
If super disciplined you can move lump sum into better savings accounts or premium bonds end of each month.

You can round down to £1 (£182 avg a year) or round down to nearest £5 if more affordable.

Not advised if you are in your overdraft a lot: goal then is to pay off the overdraft which is likely your most expensive debt.

£1825 should go a long way towards paying Christmas 2022 or paying debt.



If you want to join in, just jump on the thread and keep us updated of your progress 👍

Happy Tillying all!

Naomim

Its_time

Thank you for starting the thread.  I only found the last one a few weeks before the end of this year.  I am really looking forward to this challenge 🙂

Naomim

Glad to have you onboard @Its_time 👋

Fidelia

Well done and thank you for taking up the baton and continuing/re-starting the challenge for 2022. Naomim .  I wish all participants the very best of success.  I won't be joining you but know from my experiences on the current challenge that regularly tidying small sums can be a life-changer. Once the habit is established it becomes second nature and is so painless and hassle-free. Never too late (in my case anyway) for an old dog to learn new saving tricks.

Wishing you all a very happy, healthy and more 'normal' new year

outoftheviciouscircle

Good morning everyone. I found this challenge a bit late last year but would love to join this year. £1825 is a bit of a high target for me but I would love to join please. I will transfer every Friday.

Naomim

@Fidelia you were the star of last years challenge ⭐ 

@outoftheviciouscircle welcome! Do you have a figure in mind or just seeing how it goes?  

outoftheviciouscircle

Naomim said:

@Fidelia you were the star of last years challenge ⭐ 

@outoftheviciouscircle welcome! Do you have a figure in mind or just seeing how it goes?  

I think I'll just see how it goes as I suppose 1 week I may have £8 to round down and the next week only 50p

Naomim

@outoftheviciouscircle that's pretty much how it is for me too! 🤣

WinterWarrior

Hi @Naomim, I’ve been trying to tillytidy at least £30 per month (overall) to the mortgage, so will try to do that all year. 

Good luck everyone x

Naomim

Good luck @WinterWarrior sounds like a good plan!

MoneysavingmadGem

Afternoon 

I'm joining I too if that's ok, no target just interested to see over the year how much change builds up. Iv logged into spending account and set rounding up ... but will keep and eye on bill account and tidy once a week.