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Saving To Keep Ahead Of The Game

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Ordinary_Yet_Unique
Ordinary_Yet_Unique Posts: 180 Forumite
100 Posts Name Dropper Photogenic
edited 27 July at 8:23AM in How much have you saved?
Having reached my savings target for my Cash ISA for 2025, I have now challenged myself to reach another target amount for my Annual Bills and Travel Account for 2026.

The figure I have decided upon is £7000 The account currently has a balance of £4000, so another £3000 to go by the end of December 2025.

I have already put money aside for the annual 2025 Car Service and MOT, remaining 2025 birthdays and Christmas 2025.

I will decide at the end of each month what I can safely add to the account.

Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.

Comments

  • Skint_yet_Again
    Skint_yet_Again Posts: 8,444 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Mortgage-free Glee!
    Good luck with your savings OY_U. How does the £9000 breakdown for annual bills / travel ? 
    0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
    House sale OCT 2022 = NOW MORTGAGE FREE 🤗
    House purchase completed FEB 2023 🥳🍾 Left work. 🤗

    Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).

    Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1

    Living off savings diary
    https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p1
  • Ordinary_Yet_Unique
    Ordinary_Yet_Unique Posts: 180 Forumite
    100 Posts Name Dropper Photogenic
    edited 27 July at 8:23AM
    Plan is to have Travel pot at £1000 and Annual Bills at £6000 by end of 2025. I will then add about £750 a month to the account from January 2026 to keep it maintained and ahead!
    Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

    December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.
  • I will probably not be able to make any extra savings this month owing to a relative being in hospital some distance away from home. In fact the savings account will end the month at a lower balance.This anxious and rollercoaster time has required  at least £1600 extra expenditure. I do not mind this at all as family is absolutely more important than money. I also have some house improvements going on. I am just recording this on here so people can understand why totals have gone down and not up.
    Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

    December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.
  • Skint_yet_Again
    Skint_yet_Again Posts: 8,444 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Mortgage-free Glee!
    Totally understand @Ordinary_Yet_Unique best wishes to you and your relative 
    0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
    House sale OCT 2022 = NOW MORTGAGE FREE 🤗
    House purchase completed FEB 2023 🥳🍾 Left work. 🤗

    Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).

    Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1

    Living off savings diary
    https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p1
  • July turned into a very expensive month. My relative is in a hospital that requires a daily car, ferry and bus journey for visiting. It also takes 8 hours in total for journey plus several hours visiting time. Hopefully the relative will be transferred back to a more local hospital in the next few days. I stayed near the hospital when things were looking serious and that cost a great deal in accommodation. The daily cost is now about £26.
     
    Hopefully in next week or so I will be able to firm up financial expectations for August and update on here.

    The house improvements are nearly complete. They have come in slightly over budget. 
    Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

    December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.
  • Time2count
    Time2count Posts: 175 Forumite
    100 Posts First Anniversary
    At least you had your savings to fall back on. A couple of years ago I had a relative in hospital and having savings at least took the financial pressure off if not the emotional and time pressures!
  • I am pleased to report that my relative is being transferred back to the local hospital tomorrow. I am grateful for just a little slice of normality.
    Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

    December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.
  • Ordinary_Yet_Unique
    Ordinary_Yet_Unique Posts: 180 Forumite
    100 Posts Name Dropper Photogenic
    It will probably be another couple of weeks before I will know how much I can save this month. My occupational pension arrives on the 14th and my state pension on the 27th. I also have to make the final payment for the house improvements that should be completed today. I have also decided to purchase another pair of glasses next week, but have some money put by for those.

    Provisionally I hope to add £500 to the Travel and Annual Spends Account by August 31st. The plan is to add another £1000 in September and £750 in the months of November and December. This should be bring me to the total of £7000 by the end of December.

    I have not planned to add anything in October as the money will be used for the  car MOT and service, as well as any possible repairs.

    Reduced amounts in November and December are to allow for Christmas spending. I will also be using money from general spends for Christmas 2025. I have given general spends quite a generous allocation from now to the end of the year to allow for this spending.

    I had hoped the target total would have been higher but the relative's stay in a far away hospital drained resources somewhat.

    From January 2026 the plan is to put £750 a month in to the Travel and Annual Spends Account
    Saving To Keep Ahead Of The Game — MoneySavingExpert Forum

    December 2025 Target for Annual Bills and Travel Account 2026  £7000. Current Total £4000.
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