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    • slowlyfading
    • By slowlyfading 5th Dec 17, 9:10 PM
    • 12,926Posts
    • 74,232Thanks
    The "Save 12k in 2018" Thread!
    • #1
    • 5th Dec 17, 9:10 PM
    The "Save 12k in 2018" Thread! 5th Dec 17 at 9:10 PM
    So, the title is pretty self explanatory, but this is the place to be in 2018 it's that time of year, again!

    In 2018, the aim is to save £12k (or, any other amount if you like) from 1st January 2018 til 31st December 2018. I know it's early, but it gives you the time to plan for how you are going to do it.

    2012 thread:
    2013 thread:
    2014 thread:
    2015 thread:
    2016 thread:
    2017 thread:


    - This challenge starts on 1st January 2018 00:00 and finishes on 31st December 2018 23:59.
    - Everything saved MUST be done between these two dates.
    - Any interest gained during this challenge on your savings can be counted!

    Feel free to sign up but, please only sign up if you intend to go the distance - the thread tends to start off great and then people disappear

    Challenger List:
    001. slowlyfading - £10,000
    002. geoffers4 - £24,000
    003. Clare43 - £12,000
    004. george4064 - £12,000
    005. Dolly Rocker - £12,000
    006. ryath - £6,000
    007. Puddylove - £12,000
    008. bobobski - £14,000
    009. ToiletLicker - £20,000
    010. Westie983 - £12,000
    011. Lomcevak - £30,000
    012. Wanna Bee Free - £12,000
    013. tara747 - £12,000
    014. BBH123 - £10,000
    015. cathybird - £12,000
    016. fiisch - £6,000
    017. pearl123 - £1,600
    018. thewildrabbit - £12,000
    019. StarShapedPeg - £8,000
    020. CrabbitDutchie - £18,000
    021. itslulu - £12,000
    022. jessy-eve - £3,000
    023. try harder - £12,000
    024. Lolly88 - £12,000
    025. laurenturner - £7,000
    026. List Maker - £12,000
    027. letiss7 - £12,000
    028. fllsion - £12,000
    029. kindanice - £12,000
    030. _Amaryllis_ - £20,000
    031. darkidoe - £15,000
    032. vintagebrighton - £6,000

    CLICK HERE for the easy update form: PMay0g/viewform
    CLICK HERE to see the total amounts so far:
    Last edited by Westie983; 31-01-2018 at 9:15 PM.
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / June NSD - 6 / Ultimate Dream Fund - £25,646.36/£306,000
Page 10
    • denmjd
    • By denmjd 5th Jan 18, 3:36 PM
    • 76 Posts
    • 217 Thanks
    [QUOTE=bobobski;73665464]You're very welcome, just paying it forward as I've received so much good advice from these forums over the last few years My goal is buying a property - my original plan was to save up for a few more years and buy the "forever" house as my first house but for various reasons I'm currently trying to buy a starter home with the original plan still acting as Plan B in case it all falls through!

    Starter home sounds good, if you find one that needs doing up a bit, (a great time to hone your DIY skills) that should add more value too, maybe worth going round estate agents to see what they have available, plus you can tell them what you are looking for, keep ringing them, being the friendly person that you are, they will want to help you out, my DD did that & they rang her as soon as something suitable came on the market, it didn't even get to rightmove, it's usually a case of worst house best area you can afford, is where you live expensive? I have done up a few over the years & its always worked out well, went from house, sold it, better house in a rough state, done it up sold it, until i was happy in the home where i was in, until I split up, but that's another story... I also have seen on facebook, people saying they can buy a house quickly from people who are looking to sell quickly (for whatever reason) at a discounted price, maybe worth when you have had a mortgage approved in principal & are ready to go, that you post that on facebook if you are on it? maybe worth checking this out if it helps you? & if you are in my area, I am handy with anything from a drill to a paintbrush lol, good luck in your saving & the house-hunting, keep us updated xx
    • Suffolk lass
    • By Suffolk lass 5th Jan 18, 7:45 PM
    • 2,013 Posts
    • 20,890 Thanks
    Suffolk lass
    Hi all
    started the New Year in style! Recent storms have brought all our gutters down.
    January is not a good month... sigh.
    My emergency fund is depleted already.
    Hope others are having more luck.x
    Originally posted by StarShapedPeg
    At least you have an emergency fund to draw on
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save £12k in 2018 #53 - after May 45.81% £4,581.38/£10,000
    OS Grocery Challenge 2018 spent £1,021.80/£3,000 including stores so far 34.06% of my annual budget at the end of May
    My DFD is here
    • CrabbitDutchie
    • By CrabbitDutchie 6th Jan 18, 11:45 AM
    • 46 Posts
    • 262 Thanks
    I've been doing a bit of planning this past week and have come up with a to do list for 2018 that will help save a bit of money and reduce my environmental impact:

    - Keep better track of meter readings and energy use and optimise night time energy use - we have recently gone from a 3 to a 2 person flat and need to get our energy use tracked and under control. Spreadsheet set up and planning to do at the same time I declare savings.

    - Switch energy tariff - unfortunately we have a weird Storage Heater Control meter which is like an economy 7 except there's a 3rd system that provides power to the storage heaters on a slightly cheaper than night rate for 8 hours a day including an afternoon boost. Scottish Power have a monopoly on these meters and we probably won't save by switching suppliers. Should be able to get onto a cheaper tariff though and hopefully pay about the same each as we did when bills were split 3 ways.

    - Car share to work - should save at least £40 per month and one less car on the road during rush hour. Once the clocks change I'll attempt to cycle into work a couple of times a week. Really trying to get car use down to a level where one of those car club schemes would be cheaper than running our own car before the current one dies for good.

    In order to hit my target I'm also going to try to keep my total expenditure for 2018 under £10k, (was at £11.5K last year, but spent about 2K on holidays, so should be doable without any noticeable belt tightening).

    Otherwise 6 days in and so far so good money wise. Everything allocated and all bills paid, giving me £200 for food, fuel and fun to last until the end of Jan.
    Save 12K in 2018 #20 - £9,630/£18,000 (53.5%)
    Save 12K in 2017 #46 - £13,184/£12,000 (109.87%)
    Save 12K in 2016 #184 - £4,608/£4500 (102.4%)
    • AWPTheo
    • By AWPTheo 6th Jan 18, 1:35 PM
    • 35 Posts
    • 61 Thanks
    Also in the bad luck group, although mine was by my own stupidity!

    I managed to rack up quite an amount of debt with online store finance accounts before I suddenly realised "oh, this does actually need repaying" last year, so I stopped spending and started repaying. I paid off the repayments due for this month on the 1st of Jan so I could budget the next 2 weeks - anyway they've taken the whole payments this weekend too so I've skinted myself oh the learning curve!! I've essentially paid my debts twice this month. I didn't realise if you pay early they still take the whole amount for the month too! On the plus side the double payment means I only owe £160 in store finance now, so it will free up more money for savings a month earlier than expected

    To be fair, since I've had the store finance accounts I've never had the spare cash to even think of paying them early, and a double payment would have meant declined payments and a beating for my credit score. Thanks to MSE I did have the extra cash to pay it, nothing was declined so even though it's a bit tight until payday on the 16th, I'll live. That has to be some kind of progress.

    Anyway I'm not saving anything until the 16th to retain some kind of contingency until payday... Hope it's going better for everyone else
    Debts Jan 2018: £0/£1,200 personal loan, £118.29/£605.71 CC/SC Savings Jan 2018: £450
    2018 Challenges: Save £12k in 2018 #72 - £60/£2,400, Virtual Sealed Pot Challenge #17 £15.61/£100

    • vintagebrighton
    • By vintagebrighton 6th Jan 18, 1:44 PM
    • 554 Posts
    • 1,688 Thanks
    Just posting after taking stock of the finances.

    Currently I have £1300 on a 0% credit card with 24 months left to run. I also have £1000 in premium bonds and £1000 in Nationwide savings @ 5%. My savings therefore stand at £700. In addition I'm owed £325 bringing them up to £1025. I have a little saved in TSB which is earmarked for my £3000 budget to visit my daughter in Australia (so won't be touched for this challenge)

    I'm self employed but haven't worked since my second diagnosis of cancer and as I'm 56 I don't expect (nor want) to be employed again. I bring in money by Airbnb at the moment. I also do various other bits and pieces as and when which tops up my income.

    My husband also does ad hoc freelance work so together we make the budget work and get to do things that interest us.

    I won't be able to put any money away till the end of the month so in the meantime I'll keep reading and getting to know everyone. I'll also search out other ways of making a bit extra!

    Well done to all those posting money put away already And thanks to SF for keeping the challenge going

    VB x
    Australia (1% Challenge #6) ~ 0/100
    Weight Loss Challenge ~ 0/42
    Save 12k in 2018 #32 ~ 3750/6000
    • StarShapedPeg
    • By StarShapedPeg 6th Jan 18, 5:28 PM
    • 74 Posts
    • 306 Thanks
    At least you have an emergency fund to draw on
    Originally posted by Suffolk lass
    Thank goodness for small mercies, eh?
    It's all thanks to this thread!
    #138 - The "Save 12k in 2017" challenge
    #019 - The “Save 12k in 2018” challenge
    • MastG
    • By MastG 7th Jan 18, 6:56 AM
    • 70 Posts
    • 37 Thanks
    can you sign me up for £20,000

    This will be for my Isa .
    I have maxed my Isa allowance over the last few years but this could be difficult year to achieve my goal (may be no overtime at work !)

    • slowlyfading
    • By slowlyfading 7th Jan 18, 11:08 AM
    • 12,926 Posts
    • 74,232 Thanks
    Cant work out why the update form isnt working just ignore it for now.
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind - Dr Seuss
    Personal Finance Blogger / June NSD - 6 / Ultimate Dream Fund - £25,646.36/£306,000
    • lightbulb0811
    • By lightbulb0811 7th Jan 18, 3:59 PM
    • 75 Posts
    • 351 Thanks
    No number yet, but can I update £617.10 into my pot. Should have another deposit on Tuesday. Thank you.
    Save £12k in 2018 #90 £3818.48.03/£6000
    Sealed pot challenge #10 £115.16/200
    Weight Loss 14.5/60 lb challenge
    • LabRatty
    • By LabRatty 7th Jan 18, 5:21 PM
    • 73 Posts
    • 108 Thanks
    Hi SF,
    Please can you sing me up again - the discipline of having to report a figure for each month has been really helpful.
    I'll try for £25,000 but this is more in hope than expectation. Salary is reducing by OT payments being dramatically cut, and home (old, decrepit) needs some TLC which may be expensive. This is before any crises appear any bite us on the bum, but here's hoping...

    If I could have number 109 again it would be helpful, but if not, no problem

    Save In 2018 #109
    • Westie983
    • By Westie983 7th Jan 18, 8:00 PM
    • 4,354 Posts
    • 14,910 Thanks

    I think I know how to solve your issue with the update form.

    I have sent you a PM.

    Save 12k in 2018 #10 Total (£25,000)+£10,000/£12,000 = 83.33%
    Sealed Pot Challenge ~ 11 #97 Total (£410) + £40/£500 = 8.00% ( x 11)
    Xmas 2018 £1 a Day #2 Total £62.59/£365 = 17.14%
    Virtual Sealed Pot #1 Total £900/£1,000 = 90.00%
    £2 Savers Club 2018 #16 Total (£1,500)+-480/£2,000 = 51.00%

    Total £12,022.59/£15,865 = 75.78%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email
    • Suffolk lass
    • By Suffolk lass 7th Jan 18, 9:38 PM
    • 2,013 Posts
    • 20,890 Thanks
    Suffolk lass
    No number yet, but can I update £617.10 into my pot. Should have another deposit on Tuesday. Thank you.
    Originally posted by lightbulb0811
    If you look at the second spreadsheet you can find your number in there if you have been allocated one now - I couldn't see you yet
    Last edited by Suffolk lass; 07-01-2018 at 9:41 PM.
    MFiT T4 #2 update 88.72% after Q9 tiny bit ahead of where I should be
    Save £12k in 2018 #53 - after May 45.81% £4,581.38/£10,000
    OS Grocery Challenge 2018 spent £1,021.80/£3,000 including stores so far 34.06% of my annual budget at the end of May
    My DFD is here
    • agiaga
    • By agiaga 7th Jan 18, 11:19 PM
    • 163 Posts
    • 338 Thanks
    It's a good start to the challenge for me - £1,296.97 so far saved since 1st January. Later in the year it won't be so easy though...
    Make £2018 in 2018 #40 £1543.01/£2018
    Save £12k in 2018 #78 £1,925.47/£12k

    mortgage started 31st May 2011 -£59200
    mortgage overpayment started July 2011
    • PeteJL
    • By PeteJL 8th Jan 18, 7:55 PM
    • 2 Posts
    • 8 Thanks
    I've stuck the first chunk of money away for my goal £1000/12000 saved (No number yet) Should be able to add to that later this month after bills are taken out & I can see what I'll have left over.
    • fiisch
    • By fiisch 8th Jan 18, 11:44 PM
    • 284 Posts
    • 162 Thanks
    #016 reporting a paltry £100 this month into the regular saver.

    We have around £250 surplus in the current account this month, but I will be using this in March/April to make an overpayment on a PCP. I currently have a Honda Civic Type R with eye-watering monthly payments of £479.16, so intend to pay a chunk off to get it down at least below £400. The deal runs to November 2019, so by my maths I need to try and pay around £1500 off, which will then increase our regular saver quite dramatically (I am aiming for £6-700/month by the second half of the year).

    With my wife's car also costing us £210 / month, we have substantial outgoings on PCPs - something I am looking to address in the future...! Using the wife's car for work when she's free (she works part-time and looks after baby) as it's somewhat more economical than mine..!

    We are off to Cozumel at the end of this month, but that is all paid for except flight taxes (flights via family staff travel). All inclusive so anticipating a very low spend whilst we are away. Did well over Christmas and actually in better shape than I'd expected....

    Small win with EE this month - wife was on a £67/month contract which purportedly allowed her to upgrade midterm to an iPhone X. Went in store only to discover not only would upgrading extend this expensive contract by another year, but that to upgrade to an X would require an additional £200 payment. I am kicking myself for not reading the fine print, but when we took out the contract in-store I am convinced we were intentionally mis-sold. Fortunately, I managed to negotiate via the call-centre to reduce contract to £32.99 for remaining term. I am still considering complaining to store about mis-selling, as we've been paying £35/month extra for the last year for nothing (my wife's usage has been nowhere near her data allowance).

    Lesson learned - this will be our last year of mobile contracts. SIM only from now on!!
    Last edited by fiisch; 08-01-2018 at 11:51 PM.
    Save £6k in 2018: £1651.19 / £6000
    • k4ren2006
    • By k4ren2006 9th Jan 18, 9:38 AM
    • 7 Posts
    • 6 Thanks
    Can I sign up please. Will go for the 12k but hoping to achive 16k and at a push..20 if the gods are kind
    • lightbulb0811
    • By lightbulb0811 9th Jan 18, 1:15 PM
    • 75 Posts
    • 351 Thanks
    Could you add another £500 to my total so far please - so £1117.10 in total. Just checked and I've not reached the spreadsheet yet :-)
    Save £12k in 2018 #90 £3818.48.03/£6000
    Sealed pot challenge #10 £115.16/200
    Weight Loss 14.5/60 lb challenge
    • Baroness_Vee
    • By Baroness_Vee 9th Jan 18, 7:32 PM
    • 6 Posts
    • 42 Thanks
    My 2nd year of this challenge, so motivating thanks to all the participants on this forum. I'd love to sign up for 2018 Slowfading :-). Kudos to you for the awesome work on here!!!

    Roll on 2018!!! :-) Target of £20k.
    A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life - Suze Orman

    #187 - The "Save 12k in 2017" challenge. Personal target: £22,000
    Jan - August update - £14,386.63/22,000
    • KeepOnKnitting
    • By KeepOnKnitting 9th Jan 18, 11:54 PM
    • 156 Posts
    • 224 Thanks
    No savings to report here just yet, but I have been really well organised with taking lunch, instant coffee and milk to uni so far. I paid 20p for hot water twice when my break was too short to go get free hot water, but everything else was brought from home.
    Save £12k in 2018 #62
    • Cottage Economy
    • By Cottage Economy 10th Jan 18, 11:20 AM
    • 961 Posts
    • 4,044 Thanks
    Cottage Economy
    Not got a number yet but have opened up two new regular savers and transferred £500 for January

    Nationwide Flexclusive £250
    Leeds Issue 11 £250
    'Save £12k in 2018' £3000/£6,000 (50%)

    "...success in personal finance isn't about mastering the technicalities. It is about mastering yourself."
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