November 2016 House Saving Update

2nd December 2016
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This month we had such a tight budget to work with as you know its that time of the year when spending can easily go out of hand.

But I am glad to share with you that we managed to reach our monthly savings target for this month, despite all the spending on Christmas gift and budgeting for Christmas day.

House Buying

Our Savings So Far

The last 3 months we have been adding a little bit extra on our target, however, this was not possible. This month we managed to save £605 which is our monthly savings target for the house.

Here is what we have saved so far…

Count down 43 months left to reach the target.

Month £s Saved This Month Total Saved So Far Family Reward
Starting Savings

July 2016

August 2016

September 2016

October 2016

November 2016

£11500

£605

£655

£655

£650

£605

£11 500

£12 105

£12 760

£13 415

£14 065

£14 670

Family Reward

I recently shared with you here why we like to reward ourselves during our journey of saving money to buy our first house.

We have finally agreed as a family that when we manage to save £5000 we must reward ourselves.

So the plan goes like this we will reward ourselves when we reach £15000, £20 000 £25 000 £30000 and so on.

If you look are diagram I have provided above for our saving it means next month, if we managed to save money for the house we will reach at least £15000.

This means we will be due to receive a family reward.

Hooray!!!

I am so excited about this. We will discuss as a family what sort of reward we want. Of course, the reward will have to cater for both adults, and kids in the family.

I will share the details of the reward once we all agree as a family.

We believed it’s important to save money and reward yourselves when you can. This will keep you motivated.

Looking forward to sharing our next month savings update.

Over to you…

Do you reward yourself for saving money?

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