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  • FIRST POST
    • Debtnomoreplease
    • By Debtnomoreplease 7th Aug 18, 5:12 PM
    • 170Posts
    • 393Thanks
    Debtnomoreplease
    Savings Plan
    • #1
    • 7th Aug 18, 5:12 PM
    Savings Plan 7th Aug 18 at 5:12 PM
    Need to keep focussed on some serious saving plans now.

    I'm taking the mother out to a restaurant tonight (her b-day treat) so will get some ideas down when I get back. If it's written down, I will be more focussed!

    However, so lovely to be able to treat the mother to tea and not have to stress that I'm in my overdraft-huge leap from this time last year!!

    Will update more later after some yummy food!
Page 1
    • Debtnomoreplease
    • By Debtnomoreplease 7th Aug 18, 5:14 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    • #2
    • 7th Aug 18, 5:14 PM
    • #2
    • 7th Aug 18, 5:14 PM
    Sorry, I've posted in the wrong section. Please could someone move it to debt free diaries? I would, if I knew how to! Oops.

    Thank you
    • Debtnomoreplease
    • By Debtnomoreplease 9th Aug 18, 6:42 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    • #3
    • 9th Aug 18, 6:42 PM
    • #3
    • 9th Aug 18, 6:42 PM
    Got distracted with savings plans!

    So first of all I really need a good emergency fund behind me. I want 2000 as an emergency fund (minimum this year) before Christmas! I currently have 1000 emergency fund...1000 to go. I've worked overtime this month, so that will go towards my emergency fund. I'm hoping to throw at least 400/500 minimum at the end of this month. so hopefully by the end of Aug, I should have 1400/1500 out of 2000 emergency fund.

    Secondly, I need a healthy car fund of ideally 1500 minimum. Reached by Christmas too. Nothing for this yet, but I do have my emergency fund-but I really want a seperate fund for car.

    Thirdly, small Xmas fund-luckily I don't go over the top for Xmas so 400 will cover gifts, works do, drinks out etc. I will try and add 100 each month from Aug to Nov for this.

    Once those are saved for and started 2019. I want to save for a deposit for a house. I need to look at this in more detail etc.

    Also in 2019 savings plan will be a holiday fund.

    I don't want any of these funds to go below, so if I use some out of one fund I will look to replace it the month after-if that makes sense.

    After living for so long in debt, I need to feel secure more money wise, as I never intend to get back into debt!!!

    Feel free to chip in if you think his is all wrong and I should plan to save for other things etc.
    • Mnd
    • By Mnd 9th Aug 18, 7:30 PM
    • 840 Posts
    • 1,024 Thanks
    Mnd
    • #4
    • 9th Aug 18, 7:30 PM
    • #4
    • 9th Aug 18, 7:30 PM
    Good for you, sounds very exciting
    • Willing2Learn
    • By Willing2Learn 9th Aug 18, 7:39 PM
    • 1,836 Posts
    • 1,419 Thanks
    Willing2Learn
    • #5
    • 9th Aug 18, 7:39 PM
    • #5
    • 9th Aug 18, 7:39 PM
    Feel free to chip in if you think his is all wrong and I should plan to save for other things etc.
    Originally posted by Debtnomoreplease
    Why don't you try doing a savings snowball? Instead of debt snowballs, why not list all of your savings goals in order of priority, then just start a snowball...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Debtnomoreplease
    • By Debtnomoreplease 9th Aug 18, 8:03 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    • #6
    • 9th Aug 18, 8:03 PM
    • #6
    • 9th Aug 18, 8:03 PM
    Thank you Mnd.

    Willing2learn....what a blooming fabulous idea!!! That's exactly what I'm going to do! Treat it as 'debt' in my head, but it's actually savings! Thank you!
    • Debtnomoreplease
    • By Debtnomoreplease 19th Aug 18, 10:15 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    • #7
    • 19th Aug 18, 10:15 AM
    • #7
    • 19th Aug 18, 10:15 AM
    So after my small melt down the other day-I've got a savings plan in place for my wage at the end of this month.

    I've carried on doing overtime and working second job (yes, I currently have no life!) ha ha. But want to be able to relax a little more money wise, so these savings plans will help me do that.

    Emergency fund is currently at 1000, I will add another 500 this month bringing it to 1500/2000. (500 to go next month then target met.)

    Xmas fund-I will add 100/400 (300 to go) Sep-100, Oct-100, Nov will meet my target. Next year I will be much more organised, as will put money away every month. Luckily, I buy gifts during the year, so 400 will be plenty for gifts and works do etc.

    Car fund-already got 400, so will try and add 500 which will bring total to 900/1500.

    Hopefully all these will go to plan!

    Next month I will look at adding another 500 to emergency fund which will meet my target of 2000.

    Add another 100 to Xmas month making me half way there 200/400.

    Car find will aim for 300-500 (depends how much work I can get)

    When these saving goals have been met, I will relax a little more.

    The melt down the other day I think is through fear of not having a large emergency back up, as I will never go back in debt again-spent far too long in it!

    Next month may be a little tighter, as unsure of how much extra work I'm able to get.
    • pidge04
    • By pidge04 20th Aug 18, 12:04 AM
    • 538 Posts
    • 1,475 Thanks
    pidge04
    • #8
    • 20th Aug 18, 12:04 AM
    • #8
    • 20th Aug 18, 12:04 AM
    Wow! That emergency fund is growing and growing.
    CC1 2400/267 CC2 3000/2580 LOAN 13,000/4643
    • MovingForwards
    • By MovingForwards 20th Aug 18, 10:38 AM
    • 422 Posts
    • 511 Thanks
    MovingForwards
    • #9
    • 20th Aug 18, 10:38 AM
    • #9
    • 20th Aug 18, 10:38 AM
    Not sure if you have used the 1p a day and 52 week savings challenges? I have been using them the last two years and have been able to build up cash pots (I am also getting out of debt and saving for a deposit).
    • Debtnomoreplease
    • By Debtnomoreplease 23rd Aug 18, 10:56 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    I will have a look moving foward-I love a good little challenge.

    So a few days to pay day. Hoping all goes to plan with the pots. I'm going to do another budget plan tonight-slightly obsessed!

    It's actually my day off, but been up since the crack of dawn and on a mission to make some cash! I've sold a couple of things on Facebook-made 14. My friend has a new shed, but is so busy working she hasn't got time to paint it. She has asked me if I want to want some cash (she knows about how I've been paying off debt etc and wantonf to save) So she said if I could do it for her it would be a massive help and she'd throw in 20 and tea tonight, as she's only pay so one else to do it. So that's my day sorted and 34 up and a free tea before 12!! Going to have a look in the loft and see if I've got anything else to sell-want to try and make and extra 50 this week-every little helps as they say!
    • Debtnomoreplease
    • By Debtnomoreplease 26th Aug 18, 1:46 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    So I have spent the morning with my Monopoly money and sorting budget for when I get paid next week.

    The emergency will stand at 1500 out of the 2000 I would feel comfortable at. So budgeted to allocate another 500 to that'll pay (already at 1000)

    My 1000 parcel took at dip so restarting that as (my car fund) but will keep it as 1000 parcel. That will stand at 270.

    I will aim for some wiggle room towards some more being paid to 1000 parcel.

    Got a few nights out planned in Sep, so won't be putting away as much as I intended to do, but I've told myself that is ok. I've missed out on tons of things, so it's ok. I'm putting 700+ into savings so it's ok. I'm not in debt, so can go out for birthdays etc without going over the top.

    I haven't budgeted for Xmas fund in this months wage, but will do in Sep and add more.

    Aug will see emergency fund at 1500.
    Car fund-270, maybe more.

    Not 100% happy with this, as I could add more if it wasn't for the nights out etc but think I've punished myself enough with missing out on things.

    Sep will be, emergency 2000 out of 2000-target met.

    Car-not 100% sure yet will have to re-budget.

    I know it may seem I'm repeating myself, but need to get clear in my head where money is being allocated. Not 100% focussed these last couple of days and seem too much money wasted!! No more slipping! Targets need to be met, then I can relax.
    • Debtnomoreplease
    • By Debtnomoreplease 3rd Sep 18, 7:52 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    Re-done saving plans for this month...always something isn't there! My Hoover broke and car needed a new tyre....again!!!

    But the good thing is, I haven't gained a penny of debt to fix these problems, which once upon a time would of had me in absolute melt down at the thought!

    However, my saving plans have had to take a slight dip.

    Emergency fund now stands at 1500 out of the 2000 I want before Xmas. Really happy about this as it's nice to have a cushion!

    Car/parcel fund looks rather poorly at 156-will try and add some more into this at the end of the month, but at least I had a fund to fix my tyre I suppose (just wanted it higher than this by now, but small steps)

    No Xmas fund yet, but I have looked in my Xmas box and I've bought a lot more than I thought over the year. The odd bit here and there really adds up when you put it all together.

    Going to have to replan next months budget after work tonight, as hardly Any overtime this month-something I've become to rely on! Although, I'm so glad I used that 'extra' overtime money to pay off debt or I wouldn't be debt free. Did that far too many times, 'oh I've earnt the money, I'll spend how I want.' Blah blah blah
    • Mnd
    • By Mnd 3rd Sep 18, 10:56 AM
    • 840 Posts
    • 1,024 Thanks
    Mnd
    This all sounds great, I will follow you with interest ifvtgats ok
    • Debtnomoreplease
    • By Debtnomoreplease 16th Sep 18, 3:56 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    Half way through the month already.

    Had a very spendy weekend this, but getting sorted for Xmas so I don't panic.

    Emergency fund stands at 1800 out of 2000 at the moment, as was able to re-jig and move some money.

    At the end of the month, i will add 200 to emergency fund so will of reached 2000/2000.

    I'll then start with my car fund and Xmas.

    Car I'll add 300.

    Xmas I'll add 100.

    Not too worried about the Xmas fund as I have got most things sorted.

    Next year I will do a standing order to seperate account of 50 per month for Xmas. So that will stand at 330 by Nov, which is plenty- I don't go mad at Xmas.

    And I will continue to add to car fund until i reach 1500.
    • Debtnomoreplease
    • By Debtnomoreplease 23rd Sep 18, 8:58 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    Been looking at wiggle room for pots, as it's payday next week.

    Emergency fund=will be 2000/2000

    Car fund I can put 500 into this month.

    Xmas fund I'm aiming to put between 150/200 in.

    I'm owed money from work so need to tally up exactly what it is I'm owed, as I will also get that next week. Just a very brief draft of where hoping money can go this month.

    Not had my coffee yet, but keep writing on here keeps me on track, so will add more detail when get final money owed.

    Happy Sunday!
    • pidge04
    • By pidge04 23rd Sep 18, 9:25 AM
    • 538 Posts
    • 1,475 Thanks
    pidge04
    Really impressive!
    CC1 2400/267 CC2 3000/2580 LOAN 13,000/4643
    • Debtnomoreplease
    • By Debtnomoreplease 29th Sep 18, 8:59 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    Emergency Fund stands at 2000/2000 now :-)

    Car Fund (1000 parcel one) stands at 500.

    Xmas Fund 150, but I don't need to add anymore to this as I've bought most of my gifts. So this will go towards Xmas days out etc.

    I'm making sure I full car up at the beginning of the month and including that in my out going. Also, with nice weather trying not to use it as much to save of petr etc...all about the little savings. Ha ha.

    I've got a coin jar with about 22 on change in (I usually end up spending this to be honest!) but going to try and not touch it until 1st Dec and then change it into notes for the Xmas period :-)

    After Xmas I will continue with change jar and parcels.

    By Dec 31st I'm
    Aiming for:
    Emergency Fund to be at 3500.
    Car Fund at least 1500.
    I will start the Xmas fund properly in 2019 and put money away every month into separate account.

    Happy Sat peeps! A day with the family for me-perfect and something money can't buy-quality time!
    • pidge04
    • By pidge04 30th Sep 18, 12:32 AM
    • 538 Posts
    • 1,475 Thanks
    pidge04
    Wow, you are doing brilliantly with your savings. I hope I will do the same one day soon.
    CC1 2400/267 CC2 3000/2580 LOAN 13,000/4643
    • Debtnomoreplease
    • By Debtnomoreplease 16th Oct 18, 6:41 PM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    16th Oct 2018-where does time go?!

    Candles lit and budget planner out-I've slacked abit this month!

    Emergency fund stands at 2000/2000-goal reached before Xmas! :-)

    Car fund (1500 parcel 1) stands at 800/1500. With Oct wage I will add another 500 to this pot taking it to 1300/1500. Nov I will add the final 200 to make 1500-aim to reach goal by Nov/Dec of 1500 car fund.

    Xmas fund was 150 and been used-all Xmas gifts bought (apart from the odd stocking filler, whiz I'll buy nearer the time-so I don't eat them! Ha ha!

    Nov I would like:
    Emergency fund to still stand at 2000.
    Car fund to stand at 1500.
    To have started a new 1000 parcel.


    Dec-my emergency fund will hopefully still be 2000.
    Car fund 1500.
    1000 parcel I hope to have between 300-500 in.

    Jan 2019 I plan to have other pots-holiday pot-it's been a while!!
    Xmas pot to start from Jan through to Nov.
    House deposit fund-still need to look into detail.

    Overall, by the end of 2018 I'm aiming for between 4500-5000 saved altogether between pots. Hoping for more the 5000 area, but not had much overtime lately.

    Also joined the 2 savings club on here (I think-if its not too late!) and got 20 2 coins saved-40, but aiming for 100 worth before the end of Dec 2018.
    • Debtnomoreplease
    • By Debtnomoreplease 22nd Oct 18, 10:30 AM
    • 170 Posts
    • 393 Thanks
    Debtnomoreplease
    Joined 2 savings club-25 coins so far= 50. Aiming for 100 before Xmas!
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