diff --git a/Common/Thread/ThreadManager.cpp b/Common/Thread/ThreadManager.cpp
index f1224a64a8..547f13f75f 100644
--- a/Common/Thread/ThreadManager.cpp
+++ b/Common/Thread/ThreadManager.cpp
@@ -130,10 +130,10 @@ bool ThreadManager::TeardownTask(Task *task, bool enqueue) {
 
 static void WorkerThreadFunc(GlobalThreadContext *global, TaskThreadContext *thread) {
 	if (thread->type == TaskType::CPU_COMPUTE) {
-		snprintf(thread->name, sizeof(thread->name), "PoolWorker %d", thread->index);
+		snprintf(thread->name, sizeof(thread->name), "PoolW %d", thread->index);
 	} else {
 		_assert_(thread->type == TaskType::IO_BLOCKING);
-		snprintf(thread->name, sizeof(thread->name), "PoolWorkerIO %d", thread->index);
+		snprintf(thread->name, sizeof(thread->name), "PoolW IO %d", thread->index);
 	}
 	SetCurrentThreadName(thread->name);
 
diff --git a/Core/HLE/sceIo.cpp b/Core/HLE/sceIo.cpp
index 292a3eba4a..58b43b747f 100644
--- a/Core/HLE/sceIo.cpp
+++ b/Core/HLE/sceIo.cpp
@@ -675,8 +675,8 @@ void __IoInit() {
 
 	pspFileSystem.Mount("flash0:", flash0System);
 
+	const std::string gameId = g_paramSFO.GetDiscID();
 	if (g_RemasterMode) {
-		const std::string gameId = g_paramSFO.GetDiscID();
 		const Path exdataPath = GetSysDirectory(DIRECTORY_EXDATA) / gameId;
 		if (File::Exists(exdataPath)) {
 			auto exdataSystem = std::make_shared<DirectoryFileSystem>(&pspFileSystem, exdataPath, FileSystemFlags::SIMULATE_FAT32 | FileSystemFlags::CARD);
@@ -698,7 +698,7 @@ void __IoInit() {
 
 	__KernelRegisterWaitTypeFuncs(WAITTYPE_ASYNCIO, __IoAsyncBeginCallback, __IoAsyncEndCallback);
 
-	MemoryStick_Init();
+	MemoryStick_Init(gameId);
 	lastMemStickState = MemoryStick_State();
 	lastMemStickFatState = MemoryStick_FatState();
 	__DisplayListenVblank(__IoVblank);
diff --git a/Core/HW/MemoryStick.cpp b/Core/HW/MemoryStick.cpp
index 000e067289..fcfbc5b642 100644
--- a/Core/HW/MemoryStick.cpp
+++ b/Core/HW/MemoryStick.cpp
@@ -23,6 +23,8 @@
 #include "Common/Serialize/Serializer.h"
 #include "Common/Serialize/SerializeFuncs.h"
 #include "Common/Thread/ThreadUtil.h"
+#include "Common/File/DiskFree.h"
+#include "Common/File/FileUtil.h"
 #include "Core/Config.h"
 #include "Core/CoreTiming.h"
 #include "Core/Compatibility.h"
@@ -158,7 +160,7 @@ void MemoryStick_SetState(MemStickState state) {
 	}
 }
 
-void MemoryStick_Init() {
+void MemoryStick_Init(std::string gameID) {
 	if (g_Config.bMemStickInserted) {
 		memStickState = PSP_MEMORYSTICK_STATE_INSERTED;
 		memStickFatState = PSP_FAT_MEMORYSTICK_STATE_ASSIGNED;
@@ -170,10 +172,19 @@ void MemoryStick_Init() {
 	memStickNeedsAssign = false;
 
 	const CompatFlags &flags = PSP_CoreParameter().compat.flags();
+	//if (flags.MemstickFixedFree) {
+
 	// See issue #12761
-	g_initialMemstickSizePromise = Promise<uint64_t>::Spawn(&g_threadManager, []() -> uint64_t {
-		INFO_LOG(Log::System, "Calculating initial savedata size...");
-		return pspFileSystem.FreeDiskSpace("ms0:/") + pspFileSystem.ComputeRecursiveDirectorySize("ms0:/PSP/SAVEDATA/");
+	g_initialMemstickSizePromise = Promise<uint64_t>::Spawn(&g_threadManager, [gameID]() -> uint64_t {
+		INFO_LOG(Log::System, "Calculating initial savedata size for %s...", gameID.c_str());
+		// NOTE: We only really need to sum up the diskspace for subfolders related to this game, and add it to the actual free space,
+		// to obtain the free space with the save data removed.
+		// We previously went through the meta file system here, but the memstick is always a directory so no need.
+		Path saveFolder = GetSysDirectory(DIRECTORY_SAVEDATA);
+		int64_t freeSpace = 0;
+		free_disk_space(saveFolder, freeSpace);
+		freeSpace += File::ComputeRecursiveDirectorySize(saveFolder);
+		return freeSpace;
 	}, TaskType::IO_BLOCKING);
 }
 
diff --git a/Core/HW/MemoryStick.h b/Core/HW/MemoryStick.h
index 00ecfefba2..48b21e445d 100644
--- a/Core/HW/MemoryStick.h
+++ b/Core/HW/MemoryStick.h
@@ -17,6 +17,8 @@
 
 #pragma once
 
+#include <string>
+
 #include "Common/CommonTypes.h"
 
 class PointerWrap;
@@ -40,7 +42,7 @@ enum MemStickDriverState {
 	PSP_MEMORYSTICK_STATE_DEVICE_REMOVED  = 8,
 };
 
-void MemoryStick_Init();
+void MemoryStick_Init(std::string gameID);
 void MemoryStick_Shutdown();
 void MemoryStick_DoState(PointerWrap &p);
 MemStickState MemoryStick_State();