Project £1k

I guess the title of this post kinds of gives away where I’m going with this! Following my last post, I’ve been making a few plans. I’ve mentioned before that I’m at my best (from a financial point of view) when I’ve got a specific goal to work towards, whether that be wanting a holiday, needing to pay something off or save a particular amount. The goalposts change as life meanders on. This time last year I was working full time and earning a good wage so I could have saved £1000 in two months. Now I’m at home on maternity leave looking after my lovely baby (which is bloody brilliant by the way) and that obviously isn’t possible. Any long term readers (bless you for sticking with me through the disjointed ramblings of the past few months) will know that I saved a chunk of cash to get me through my maternity leave. I’ve been dithering because the money I saved is my monthly contribution to the joint account and that means making a savings plan is kind of tricky because, really, I’d just be not trying to spend what I’d saved rather than saving any ‘new’ income. This might not make any sense but I, at least, know what I mean! To keep things simple I have set up a standing order so the correct amount of money goes into the joint account once a month for the duration of my maternity leave – which was the purpose of saving these funds for in the first place. This means that I can ‘ignore’ this account and focus on what I can save from my maternity allowance. This is all exceptionally dull but I wanted to be clear about what I’m doing and how I’m doing it.

I’m giving myself the goal of saving £1000. For now, I’m not giving myself a deadline for when I have to save it by – it’s just a figure to give me a bit of focus. I hope that, in the future, I’ll be able to extend this to £2k or £5k – perhaps I’ll even write a post one day titled ‘Project £50k’, who knows? My progress will probably go up and down a bit as I go along. If I need or want to spend some of it then, quite simply, I will. Over the next few months, various expenses will be coming up: my trusty leather Converse trainers have just started leaking (noooooo! Just when I’m getting used to pounding the streets with a pram instead of tottering around the office in heels), a relative from Australia is visiting for a week and we’ll be doing lots of outings, there’s the dreaded C-word (that’s Christmas by the way) and also a special piece of jewellery I’d like (more on that another time). So, while money will go into the ‘Project £1k’ fund, a bit will also be coming out here and there. The aim is to get the savings ball rolling again and to try and get into a slightly more inventive mindset.

Let the saving commence…

Categories: Money Management, Saving | 3 Comments

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3 thoughts on “Project £1k

  1. Sounds good – always important to have a plan me thinks. Good luck with your saving – have no doubt that you’ll manage it.

  2. You’re right – it’s always good to have a goal to work towards – makes things a lot more focussed, I find.

  3. Pingback: The challenges of financial motivation | Shoestring Alley

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