The 'We're saving for a deposit' thread

juniordoc · 21 December 2017 at 1:41PM

I've also recently completed on my first home having been saving for a deposit for 6 years! So good to stop giving our money to a landlord and letting agent every month. The pain of saving is worth it! And remember at this time if year when there's so much pressure to spend, that Christmas is about people, not about stuff.
Happy Saving

compbren · 22 December 2017 at 8:54PM

I haven't posted on here in a good few months so I think it's time for a little update.

I am so hoping that this time next year I'll be in my own home. I'm currently back to £33,000 in savings as of now, despite reaching £40,000 earlier this year. I ended up buying a new car which slowed me down a bit.

Anyway, I'm determined to get back up to £40k again next year. It shouldn't be too difficult, but that last few months my savings have gone out the window a bit. Anyway, onwards and upwards.

Missmoneygirl · 23 December 2017 at 12:01AM

Hello, first time posting but inspired by all these savers! You guys have done/still are doing amazing. My gf and I have been saving for a house deposit for around three years and have just hit £50000 which I am so excited about. My goal is £80000 by the end of next year which will be tight but doable, so I thought posting here might give me some accountability along with inspiration. Looking to buy somewhere between £200000 to £230000. This will be our first home and we are so excited!

Lolly88 · 29 December 2017 at 8:35PM

Lolly88 wrote: »

I've decided to increase my target from £25,500 to £35,000 which will be 30k deposit and 5k for fees. This is because I want to buy a property at the top end of my affordability and I will be moving to a new area in the new year where houses are slightly more expensive.

I've saved £23,000 so far and very proud I've done this in 2 years. I've never had this much money in my life and never dreamed it would be possible. If I save 12k over the next year like I plan to then I will have reached my 35k target and this time next year I can start seriously looking at houses to buy! This time next year I will come back to this thread and quote this very post and update positively or negatively whether I've reached my target and if I have put the wheels in motion to buy. It feels too good to be true and I don't believe it will happen but we will see.

I am a woman of my word - one year on and i've not quite reached my target of £35,000 due to an unexpected bereavement earlier this year which meant expensive funeral costs to pay for. However, I've come back swinging and with a total standing at just over £32,000 I'm not far from where I wanted to be.

More significantly, I am officially in the process of buying a house - my fingers and toes are crossed that it all works out well after being mucked around in November with a previous seller. 3 years of saving and now the finish line is so close. :j

WodaSodowa · 10 January 2018 at 12:49PM

Can I join please?
My savings as of today are £3510, my target for 1st of July is to have £13500 (aiming for 10%). It will be really hard to achieve it considering that we have a couple of family celebrations (wedding, stag and hen abroad etc), 2 of our kids have birthdays and generally life always throws something our way. I had a look at our expenses and cut out whatever I can:
- slashed our food bill from £140 a week to £55 (tesco everyday value snacks and I'm cooking a lot in slow cooker, to be honest we are eating nicer, tastier food than when we spent a lot more money)
-my phone contract is due for renewal but I'm going to go for Sim only 12 month contract so I will pay £6 instead of £32 a month)
-got rid of Now TV (only left kids package which is £2.99 a month)
-I try not to turn on heating at all until kids are back from school and do only full loads in dishwasher and washing machine
-don't buy anything unless it's absolutely necessary
All in all I want to save around £400 per week. Some weeks I will not be able to save much (for example when rent comes out), some weeks I will be able to save almost all money coming in.
I put on the fridge door an estate agents leaflet about the house that would be absolutely perfect for our family. I really regret that we are not able to buy it at the minute and I hope it will help me to stay focused as I don't want to be disappointed again. I know I can do it- short term sacrifice to achieve my dream&#55357;&#56842;

juniordoc · 18 January 2018 at 8:29AM

Welcome Soda, how is your saving going this week?
I love the idea of having an inspirational pic on the fridge.
Also make sure the savings you already have are earning the best possible interest in a help to buy ISA and high interest current accounts. Good luck working towards your deposit!

WodaSodowa · 19 January 2018 at 11:40PM

Thanks for the welcome juniordoc:D
I forgot to post on Sunday but had all the figures written in my notebook.
08.01-14.01 I saved 444.65 and as well got back £300 that I lend to someone. So it's extra £744.65 in our savings.
My overall house deposit stands at £4244.65/£13500.
This week was very good savings wise so hopefully will be able to add another £500 or £600:j
I already set up HTB ISA for my husband (it was quite straightforward as he has his current account with Nationwide), I have to go to the branch to get mine sorted but I was so busy this couple of weeks that I completely forgot about it. I will go next Friday- thanks for reminding me juniordoc:D

WodaSodowa · 21 January 2018 at 9:52PM

Just a quick Sunday update:D
This week saved £619.25 so a very good week:j
Together in deposit pot we have £4863.90- getting closer and closer.
For being so good this week we got a cheeky burrito (just one between us two:rotfl:)

BritOnABudget · 22 January 2018 at 11:49AM

WodaSodowa wrote: »

Just a quick Sunday update:D
This week saved £619.25 so a very good week:j
Together in deposit pot we have £4863.90- getting closer and closer.
For being so good this week we got a cheeky burrito (just one between us two:rotfl:)

I am enjoying reading your updates and I think that its fab you are able to save so much :T

WodaSodowa · 22 January 2018 at 9:18PM

Glad you enjoy my updates BritOnABudget:D Unfortunately in the past even though we had good money coming in we somehow always managed to spend it:embarasse I'm so happy I changed it. Main reason for this was my oldest son- he has autism and changes of house really affect him badly... Last time when our landlord decided to sell the house and we moved to the house we currently live in, he didn't even want to come in here- he was so heartbroken that he can't be in his old house that he loved and was used to. Recently I started thinking what's going to happen if we are forced to move again and decided that our next move is going to be the last one!

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