Happy New Year everyone! We are back and well rested, ready to smash another year of saving and investing. As we mentioned in our December Update, we have set ourselves the ambitious target of saving £40,000 in 2020. What this means in reality is that we need to save/invest an average of £3,333 per month to hit our goal. Let’s have a closer look at how we performed in January.
January is notoriously a tricky month and Christmas certainly took its toll on our monthly savings. Christmas presents, meals out and flights back home to the UK meant that we started the year already short of our monthly savings target, whoops, nonetheless we are hoping to bounce back in February.
Despite investing less than expected, our portfolio grew by over £9,100 due to the stock market hitting all time highs. As always, a booming stock market leaves us with mix emotions as it is always fun to see your portfolio grow, however this early in our accumulation phase we would prefer not to be buying at record highs!
What are your savings goals for 2020? How do you intend to achieve them? Let us know in the comments below.