The "Save 12k in 2018" Thread!

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Comments

  • Niv
    Niv Posts: 2,468 Forumite
    First Anniversary Name Dropper First Post
    Thinking of signing up but before I declare a total I was wondering:


    - Would capital paid off mortgage count?
    - Would pension contributions count?


    I ask because I currently overpay my mortgage and will be upping my pension contribution next FY and therefore 'cash savings' will be lower than previous. If they don't count then I would need to take that into account before I could give a savings figure.


    Thanks.
    YNWA

    Target: Mortgage free by 58.
  • Merlin's_Beard
    Merlin's_Beard Posts: 1,427 Forumite
    First Post First Anniversary Name Dropper
    Sign me up! I'll aim for £10,000, though that may go to pot if housebuying becomes a reality later in the year.
    Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
    Current mortgage amount: £233.529.75
    Start student loan 2012: £29,750; current student loan: £11.400.50; OP offset fund: £750
  • redsunset
    redsunset Posts: 6 Forumite
    First Post Combo Breaker First Anniversary
    Sign me up for £8k
  • Twiggy_34
    Twiggy_34 Posts: 685 Forumite
    Count me in again please SF. I'll raise the bar slightly and aim for £3000 this year, as I've beaten my £2500 target the last 2 years.

    Thanks :)
    £12k in 2019 #084 £3000/£3000
    £2 Savers Club 2019 #18 TOTAL:£394 (2013-2018 = £1542)
  • Wentthedaywell?
    Wentthedaywell? Posts: 643 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Niv wrote: »
    Thinking of signing up but before I declare a total I was wondering:


    - Would capital paid off mortgage count?
    - Would pension contributions count?
    I used to count my AVC, which I took as a 100% lump sum cash when I retired, as savings but not my main pension. Personally I wouldn't count mortgage over-payments as that is paying down debt rather than adding to the savings pot.

    That's just me though; there's no right or wrong on this forum. You do whatever works for you Niv, it's all a good use of money! :)
    Save £12k in 2022 thread #7:

    Save £10,000 Jan-May 2022 THEN RETIRE!!
    Final total for (half) year: -£4,000
  • christiem94
    christiem94 Posts: 18 Forumite
    First Anniversary
    Could I join in this year please? I've not done a challenge like this before so I think I'll ease myself in with a target of £6000 :)
    Save £12k in 2018 #41 £8,247.60/£9,000
  • Dot_Cotton_2
    Dot_Cotton_2 Posts: 15 Forumite
    Can I also join please? My target is €12k. First ever challenge here too :j
  • Ruthy1604
    Ruthy1604 Posts: 543 Forumite
    First Post First Anniversary
    Id like to join again please.
    Could I sign up for £30K
    Thanks :D
    10lb to lose & keep off in 20204.5lb/10lb:rotfl:
  • Ruthy1604
    Ruthy1604 Posts: 543 Forumite
    First Post First Anniversary
    Niv wrote: »
    Thinking of signing up but before I declare a total I was wondering:


    - Would capital paid off mortgage count?
    - Would pension contributions count?


    I ask because I currently overpay my mortgage and will be upping my pension contribution next FY and therefore 'cash savings' will be lower than previous. If they don't count then I would need to take that into account before I could give a savings figure.


    Thanks.
    I include my pension contributions as I see that as saving for my future in a tax efficient way!
    10lb to lose & keep off in 20204.5lb/10lb:rotfl:
  • bobobski
    bobobski Posts: 771 Forumite
    First Anniversary Name Dropper First Post Chutzpah Haggler
    Niv wrote: »
    Thinking of signing up but before I declare a total I was wondering:


    - Would capital paid off mortgage count?
    - Would pension contributions count?


    I ask because I currently overpay my mortgage and will be upping my pension contribution next FY and therefore 'cash savings' will be lower than previous. If they don't count then I would need to take that into account before I could give a savings figure.


    Thanks.


    I wouldn't count either personally - mine is purely money which is put into a savings account which I can relatively easily access. A pension isn't savings and neither are mortgage overpayments. However, the beauty of this challenge is that you can make it whatever you want and I'd say it's more important to be consistent with your criteria than sticking to someone else's criteria if they don't suit you.


    I think there are mortgage overpayment challenges if you're interested in those but I'm not there yet :)
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