"The Save £12k in 2024" challenge

Suffolk_lass

Heading towards my embarrassingly small declaration for February - the first three to four months of the calendar year are always the worst, and then it normally picks up. Having had a shocking house insurance renewal through, the point where it clears will severely dent our running costs this year. Approximately the same amount as Council Tax.

I suppose I am a case in point that you can be in the challenge, even when your savings achievements are a lot less than £12000 for the year!

enthusiasticsaver

Suffolk_lass said:

Heading towards my embarrassingly small declaration for February - the first three to four months of the calendar year are always the worst, and then it normally picks up. Having had a shocking house insurance renewal through, the point where it clears will severely dent our running costs this year. Approximately the same amount as Council Tax.

I suppose I am a case in point that you can be in the challenge, even when your savings achievements are a lot less than £12000 for the year!

Every savings amount is worth declaring. That insurance premium sounds shocking if it has run into thousands?!!

I am sure you tried price comparison sites on the house insurance? Could you not get it much lower?  All of our insurances have increased over the last few months  so I have moved both our car insurances and our house insurance. I know the cost of materials has risen which is their justification but our renewal quotes all more than doubled. 

Suffolk_lass

enthusiasticsaver said:

Suffolk_lass said:

Heading towards my embarrassingly small declaration for February - the first three to four months of the calendar year are always the worst, and then it normally picks up. Having had a shocking house insurance renewal through, the point where it clears will severely dent our running costs this year. Approximately the same amount as Council Tax.

I suppose I am a case in point that you can be in the challenge, even when your savings achievements are a lot less than £12000 for the year!

Every savings amount is worth declaring. That insurance premium sounds shocking if it has run into thousands?!!

I am sure you tried price comparison sites on the house insurance? Could you not get it much lower?  All of our insurances have increased over the last few months  so I have moved both our car insurances and our house insurance. I know the cost of materials has risen which is their justification but our renewal quotes all more than doubled. 

Our house is a modest 3 bedroom house of non standard construction - timber frame, thatched roof, several outbuildings,  and if you can get the comparison sites to provide quotes they are £2-3k more than going via a broker. Most say you have to call. Hence the specialist broker

Kim_13

#33 Kim_13 Final check in for February and £20.20 added.

Total for the month £851.81

george4064

george4064 said:

#4 declaring £1,761.24 for January. A good start and here's hoping that I can continue this momentum through the year!

#4 declaring £1,473.60 for February.

Part of our mortgage come up for its renewal and is now fixed at 5.12% for two years (previously 1.84%). Rates not yet high enough to start diverting savings to paying off the IO mortgage vs keep investing, but I am increasingly thinking about it more! If we reach a point where OH and I are making decent contributions to pensions and ISAs then might give it some more thought.

Added some more to S&S ISA this month, buying more Small Cap ETF as it was underweight its target. Emerging markets is now most underweight so thats probably next asset class to top up, likely next tax year now.

Macsidia

#41 Declaring £360 for February.

Would of been £860 but my mother wanted £500 to book a holiday, also paid £200 for BNPL and my injury at work cost me £260 for the time off I had. So yeah a bad month but was expected.

March however is expected to be much better since I get paid 5 times rather than just 4 for the month.

Toastie2018

#22 declaring £502.94 for February.

Had a few extra expenses including new tyres and books for a short course. 

Thanks for updating. 

MrsCautious

#56 MrsCautious adding a final £140 for February from some interest added.

Angelica123

#48 - 1150 for March

My regular savers have come out.  Did some overtime so I should be able to put more in a bit later in month once that gets paid. 

Caeraugirl

#19 - £1195 for March

The money shuffling to regular savers has been done, and from this month the £250 allocated for S&S ISA has been diverted to my SIPP. I've also got the money from the second "free" month of Council Tax so have saved an extra £195 on top before it gets swallowed up in the household spends.