"The Save £12k in 2024" challenge

Suffolk_lass

In contrast, I do include cash dividends and interest when accounts mature, on top of the squirrelled away "Tilly tidying" I do, but until my first pension payment (early April) there are no lump sums adding to our savings, and maybe not even then, as a few projects are under discussion

t2rry

I tend to work my months payday to payday,  I can't decide whether to include my savings coming from January's payday as in January or February - If I include it in January's then it will be a bumper Jan, but potentially a slow December to balance out.  That said, if I need December's to be in this year too, then I will treat it as such and know that I'm starting next year off slowly.

Might be worth mentioning that I have purposely planned for January's payday to be 'in' January as I have a deadline for some of those savings on 31st Jan (tax payment, but I'm counting it as saved nonetheless!)

enthusiasticsaver

Topscooby said:

I’ve organised payments for various bills and credit cards (including the council tax today) and as a result I don’t anticipate adding anything else to my savings for this month. However, we are only halfway through the month so it’s possible that this could change!…never say never as the saying goes!

To clarify, and after reading several other posts on this thread, I’m only including funds that I actually save for this challenge only. I’m not including interest earned from any of my savings or from money saved to any other accounts that are not associated with this challenge. If I were to do that then my total for this month would be in excess of £20,000 already!

Cheers,

Andy 

I do the same.  I only include money put away in our internet saver or regular saver.  Any interest or dividends in our stocks and shares  isa are bonuses but not included in this challenge.  They count as income instead. 

KrsyW

Good evening, 

I would like to join the challenge this year if at all possible, with a target of 12k please.

Thanks in advance.

geordiejon

#09 geordiejon
another deposit today of £361.58

enthusiasticsaver

Spreadsheet updated 

@KrsyW Welcome.  You are #59. Please read the first post on this thread as to how the challenge works. 

penny_less

Hello

Could I also join this challenge?
I intend to include all excess income from any source PBs etc), and would like to aim for 12k.
I will report at the end of the month.
Thank you to Doris17, whose diary alerted me to this challenge.

Thank you

lovemula21

#31 
I’d like to add £250 to my total please. 

Thank you 🤩

£1150/£12000

MrsCautious

Hello, it’s good to read on here what people do and don’t count towards this challenge.

I’ve taken the approach that my aim is to increase my savings so when interest is added and stays in the account I’m counting it, I have a figure in mind that I’m aiming for in savings over the next year and for following years so for me, including interest in that growing total feels the right thing to do as it’s adding to it, I’m not planning to take it out. 

I’m also counting pension contributions. 

To add to my total so far I’d like to add for January:

#56 Mrs Cautious £1636 to add to amounts previously posted. My monthly total through the rest of the year will be nowhere near that.

*Thank you and please let me know if this is outside what the challenge should be! 

Van_Girl

I count all payments into investments, fixed and regular savings, mortgage overpayments, pension, and interest payments on cash accounts, and work out the increase (or decrease!) across all accounts compared to the previous month. I don't count investment fluctuations or dividends, or mortgage repayments.

I think we all do slightly different things, but it's up to us how we work it out. I use this challenge for my long term savings goal (5 year plan) and so they are savings I am aiming not to spend. 

I do also have separate savings in a virtual sealed pot, for a different challenge (£2024 in 2024), which I don't include as I want to spend it at the end of the challenge