PLEASE READ BEFORE POSTING

Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

The 'We're saving for a deposit' thread

Options
13567…517

Comments

  • moomin_white
    moomin_white Posts: 156 Forumite
    Options
    don't want to disclose too much about how much deposit i have-except that in 5 years since quailifying as a dental hygienist i have saved alot! In fact,my first year i saved half my salary every month as my rent was very cheap and i had no social life!

    Not so easy now as i rent a studio flat (cheaper than a 1 bed-see! frugality in action!) as i'm 31 and can't deal with all the crap that comes with sharing anymore(especially when you dare to actually live in the accommodation or have a boyfriend!)
    Still manage to save around £300-£400 a month though.
    Money goes into NS&I direct ISA and a e-savings account.
  • Ivana_B_Rich
    Ivana_B_Rich Posts: 599 Forumite
    First Post Name Dropper First Anniversary
    Options
    Hello :wave:

    I'll be number 7. I'll be back with figures soon

    *leaves to update signature*
    Saving a house deposit. Member no.7 100% of target :D

    He is your friend, your partner, your defender, your dog.
    You are his life, his love, his leader. He will be yours, faithful and true, to the last beat of his heart. You owe it to him to be worthy of such devotion.
  • RoxieW
    RoxieW Posts: 3,016 Forumite
    Options
    Hi Ivana - the more the merrier.

    Are people generally saving a fixed amount each month or is anyone in the same boat as me and meant to save a set amount each month but it keeps getting eaten in to? Latest thing is hubby wants a shower installing which means paying a plumber and electrician, plus a plasterer to clear up the mess!
    MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!:j
    £10 a day challenge Aug £408.50, Sept £90
    Weekly.
    155/200
    "It's not always rainbows and butterflies, It's compromise that moves us along."
  • Bf109
    Bf109 Posts: 634 Forumite
    First Post First Anniversary Combo Breaker
    Options
    Reckon we're scraping along at the £150k level. Which is a healthy sum but massively frustrating to think this could have bought us a 3-bed semi with a large garden and garage in a modest outer london borough five years ago.

    Now it wouldnt even be a 30% deposit.
    [FONT=Arial, Helvetica, sans-serif]Rise like Lions after slumber
    In unvanquishable number -
    Shake your chains to earth like dew
    Which in sleep had fallen on you -
    Ye are many - they are few.    [/FONT]
  • RoxieW
    RoxieW Posts: 3,016 Forumite
    Options
    Bf - wow - swap ya! Um, i kno, if we'd have bought when we first started thinking about it we'd have a heck of a lot more equity - but hubby was convinced a crash was coming and wanted to wait :(
    MANAGED TO CLEAR A 3K OVERDRAFT IN ONE FRUGAL, SUPER CHARGED MONEY EARNING MONTH!:j
    £10 a day challenge Aug £408.50, Sept £90
    Weekly.
    155/200
    "It's not always rainbows and butterflies, It's compromise that moves us along."
  • chelseablue
    chelseablue Posts: 3,303 Forumite
    Name Dropper First Post First Anniversary
    Options
    Just transferred £1600 from bf's account into savings, new total in sig

    We save whatever is left in our current accounts the day before pay day
  • dannyboycey
    dannyboycey Posts: 1,060 Forumite
    Options
    chelseablue wrote: »
    Just transferred £1600 from bf's account into savings, new total in sig

    We save whatever is left in our current accounts the day before pay day

    Depends how hardcore you want to be about it, but you can do this in reverse. That is, pay yourself first as it were, (a fixed amount each month) then live off the rest come what may. Then, if towards the end of the month, things get tight - you just cut back and struggle on till payday. I didn't articulate that very well. Hope it makes some sort of sense.
  • Ivana_B_Rich
    Ivana_B_Rich Posts: 599 Forumite
    First Post Name Dropper First Anniversary
    Options
    I save £750 as soon as I get paid, I then live reasonably frugally (without it hurting) for the rest of the month. Anything that's left over at the end of the month goes to the deposit fund. If I'm totally honest I could save more, I'm hoping this thread will encourage me to try a bit harder

    I have an ISA with Icesave, which is maxed for this year. The rest is with Firstsave.
    Saving a house deposit. Member no.7 100% of target :D

    He is your friend, your partner, your defender, your dog.
    You are his life, his love, his leader. He will be yours, faithful and true, to the last beat of his heart. You owe it to him to be worthy of such devotion.
  • oldMcDonald
    oldMcDonald Posts: 1,945 Forumite
    Options
    RoxieW wrote: »
    Hi Ivana - the more the merrier.

    Are people generally saving a fixed amount each month or is anyone in the same boat as me and meant to save a set amount each month but it keeps getting eaten in to? Latest thing is hubby wants a shower installing which means paying a plumber and electrician, plus a plasterer to clear up the mess!

    We save all of my part-time wages, money I get for doing a leafleting round once a month, 10% of all other income as soon as it comes in, any income gained by selling stuff (we have hundreds of books and are slowly working our way through them, dividing them into keep and sell - they are bringing in a good income through Amazon at the moment), any money (even if it is pennies) saved through BOGOFS / vouchers, cashback on credit cards, money earned through Quidco....it sounds like lots of small amounts but can add up to a fair bit! Last month we boosted our deposit fund by £1500, this month we have already had a couple of good book sales so I hope that we will manage roughly the same again.

    We also put anything left at the end of the month into the house deposit account - we live on as little money as possible, I try to keep food costs down to £30 - £60 a week for the 7 of us, we have the heating on a little as possible, slow cooker stuff as much as poss to save on fuel, walk / cycle if we can, foraging food...all these little things add up to more savings and us getting nearer to getting a home we want.

    :)
  • kunekune
    kunekune Posts: 1,909 Forumite
    Options
    OK, us too.

    DH: ISA 6300
    Me: ISA 3060
    Joint savings account: 10,000

    Goal: 40,000

    Savings target: minimum of £1000 a month plus any extras from my contract work and DH's bonus

    The earliest we can start looking is probably this time next year, as we are on an AST until mid October and from September to May my job is completely manic. We moved in October last year and it took me weeks to get back on top of things.
    Mortgage started on 22.5.09 : £129,600
    Overpayments to date: £3000
    June grocery challenge: 400/600
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards