Hiya I'd love to join if that's OK? With a £12k target. I have read through but not sure if I add in once I have actually received the money and it's in the savings account or whether (like for overtime for example) I do it when I work the hours? Is it personal preference or is there a fixed/best way? I think I'll join a few of the other challenges to help me on my way too!
I update monthly once the money is actually in my savings account but I assume as long as you are consistent it is up to you. @slowlyfading asks for monthly updates.
I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment 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 [email protected] All views are my own and not the official line of MoneySavingExpert. Save £12k in 2023 Challenge #8 £12,000/£6500 The 365 day 1p Challenge 2023 #1 £670.00/£100.00 The 365 £1 a day Challenge for Christmas 2023 #43 £1000/£400
Please include me with a £5000 target for 2023. I was #14 last year, but I don't mind what number. I am very late responding as our visitors stayed until yesterday(!!)
Save £12k in 2023 - #50 target is £5000 OS Grocery Challenge 2023 annual budget £443.26/£3000 (plus £500 contingency) Save £12k in 2022 - #14 £9,500 £11,491.41 (120.96%) at end of November (£330.25 to be added to the final spreadsheet) OS Grocery Challenge 2022 spent £2,732.22/£3,000 annual (not incl £500 contingency)My Debt Free Diary Get a grip Woman
I'd love to get involved again this year. Can I sign up for a target of £15k please 🙏
I failed to keep up last year - the saving continued but I lost my way with sharing updates as I made a large purchase using savings and it felt wrong to keep incrementing my reported savings total when I was really just paying back what savings I'd spent.
No planned big purchases this year, so should be a more consistent one for me!
Thanks for keeping this going @slowlyfading - if I can help with the administration of all this, do ask!
Save £12k in 2020 #127 - £8,749.75/£12k (72.91%) Save £12k in 2021 #38 - £14,000/£12k (116.67%) Save £12k in 2022 #39 - £736/£14k (5.25%) - failed as I spent £13,264 from savings Save £12k in 2023 #51 - £5,848.96/£15k (38.99%)
I'd love to get involved again this year. Can I sign up for a target of £15k please 🙏
I failed to keep up last year - the saving continued but I lost my way with sharing updates as I made a large purchase using savings and it felt wrong to keep incrementing my reported savings total when I was really just paying back what savings I'd spent.
No planned big purchases this year, so should be a more consistent one for me!
Thanks for keeping this going @slowlyfading - if I can help with the administration of all this, do ask!
@steves_uk I had a similar situation. I paid for half of the cost towards the kitchen to be fitted, so for a few months I declared zero pounds and filled the form and posted.
Some people posted a minus figure.
⭐️Save 12K in 2023 ⭐️Fashion on a ration 18/66 coupons
Not reporting yet for January but after the monthly money shuffle today I transferred £3k to our joint savings and £100 to my personal savings account. Hoping to transfer some more later on in the month. Credit card bills for December used for buying some Christmas presents all paid off today as well. . The extra income we are getting from my sipp from this month is going to come in useful.
I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment 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 [email protected] All views are my own and not the official line of MoneySavingExpert. Save £12k in 2023 Challenge #8 £12,000/£6500 The 365 day 1p Challenge 2023 #1 £670.00/£100.00 The 365 £1 a day Challenge for Christmas 2023 #43 £1000/£400
#96 Save 12k in 2021, £11, 000 / £10,000 saved in 2021 #13 Save 12k in 2022, £7151.96 / £12,000 #52 Save 12k in 2023, £0 / £12,000 3-6 month emergency fund £10,000 House Downpayment £7151.96 / £20,000
Last yr I found my biggest problem was the mindset "I'll make up the difference next month/later". To overcome this, I'm going to have mini targets in year (in addition to the passive d/d in the background), for example, Jan-Mar max out LISA, Apr-Aug put money away to max supermarket Xmas schemes just before they close (unless of course savings match the bonuses, which I'll swap out in next yrs budget), Sept-Dec focus on LISA again.
What do other do to help keep on track/motivated to increase their savings to hit target?
For myself, I am saving for early retirement. Which is getting very close now. This is my main drive /motivation.
I know that for every £12k saved that is another year early I can retire.
From a day to day motivation. I always pay my future self first, Then I have a small 'spending' budget. I look at what I have saved and add small amounts to get to the next £1, £10, £25, £50, £75 and £100. These are my mini targets.
I am trying a 'no' non-essential spend month to kick start the year. During Covid lockdowns I saved much more than normal. So, I am being mindful of small amounts of money dripping out of the account.
⭐️Save 12K in 2023 ⭐️Fashion on a ration 18/66 coupons
Replies
Save £12k in 2023 Challenge #8 £12,000/£6500
The 365 day 1p Challenge 2023 #1 £670.00/£100.00
The 365 £1 a day Challenge for Christmas 2023 #43 £1000/£400
I failed to keep up last year - the saving continued but I lost my way with sharing updates as I made a large purchase using savings and it felt wrong to keep incrementing my reported savings total when I was really just paying back what savings I'd spent.
No planned big purchases this year, so should be a more consistent one for me!
Thanks for keeping this going @slowlyfading - if I can help with the administration of all this, do ask!
Save £12k in 2021 #38 - £14,000/£12k (116.67%)
Save £12k in 2022 #39 - £736/£14k (5.25%) - failed as I spent £13,264 from savings
Save £12k in 2023 #51 - £5,848.96/£15k (38.99%)
Save £12k in 2023 Challenge #8 £12,000/£6500
The 365 day 1p Challenge 2023 #1 £670.00/£100.00
The 365 £1 a day Challenge for Christmas 2023 #43 £1000/£400
#13 Save 12k in 2022, £7151.96 / £12,000
#52 Save 12k in 2023, £0 / £12,000
3-6 month emergency fund £10,000
House Downpayment £7151.96 / £20,000