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  • FIRST POST
    • Gibberish94
    • By Gibberish94 9th Sep 16, 4:57 PM
    • 10Posts
    • 12Thanks
    Gibberish94
    The Gibberish trek to a deposit!
    • #1
    • 9th Sep 16, 4:57 PM
    The Gibberish trek to a deposit! 9th Sep 16 at 4:57 PM
    Hi everyone, I've been lurking here for a few months but thought I'd set up my own thread to help me keep track of my savings and also to provide myself with motivation from other money savers!

    So I'm 22, graduated from university a year ago and have since been in a full time job in my desired field woo! Anyhow myself and my OH are renting at the moment and saving for a deposit. We live in the South East so a realistic target for our deposit/savings I think will have to be about £50,000 taking into account extra fees and additional furniture etc that we will need!

    Current savings stand at:

    My HTB ISA: £1,150
    OH HTB ISA: £2800
    Total: £3,950 / £50,000

    So currently we are a measly 7.9% there however its a start right?!
    The initial target for savings would be to reach this target by June 2022
    This means saving over £350 a month EACH! This is certainly not achievable currently however I'm hoping as we both get pay rises in the future this should become more achievable! (My pay particularly should increase a lot over the next few years once I become fully qualified - only a gazillion exams to go !!)

    I have a credit card with a balance of £1077 (interest free until Feb 17) so thats my priority first to get paid off before I really start to focus on my savings!

    Anyhow, hope you all enjoy coming on this journey with me, I'll be here a while!!
    Last edited by Gibberish94; 11-09-2016 at 10:51 AM.
Page 1
    • Gibberish94
    • By Gibberish94 11th Sep 16, 10:50 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    • #2
    • 11th Sep 16, 10:50 AM
    • #2
    • 11th Sep 16, 10:50 AM
    So this week has been very expensive, myself and OH have both been off this week meaning we've been filling our time with fun activities to do which obviously is pricey - although we have mainly been going on nice walks so have only been having to buy lunch whilst out but nevertheless it all adds up. Additionally having time off has meant we have been spending more time in the flat and realising we have lots still to buy, we just bought a lovely chest of drawers that should be delivered on Friday and also some lovely bedsheets - these weren't the cheapest however we would both much rather spend a little more money on things we both really love and that will last us a longer time - that being said we did get a nice 25% discount off it all !

    Going to try and not spend too much more money for the rest of this month so I can put more into my credit card and get that paid off ASAP however I have a bill of £250 to pay at the end of this month so will have to see how far I can stretch the pounds!!
    • savingwannabe
    • By savingwannabe 11th Sep 16, 11:27 AM
    • 11,944 Posts
    • 44,796 Thanks
    savingwannabe
    • #3
    • 11th Sep 16, 11:27 AM
    • #3
    • 11th Sep 16, 11:27 AM
    Hello welcome. It's great that you are saving for a house and are so enthusiastic. Well done on getting bargain furniture. Everyone is really welcoming and we all inspire each other
    Kitchen Fund( Nov 2017) £5200/£8000 65%
    Christmas Fund (Dec 1st 2016) £20/£600 A Tiny%
    Note to self: DO NOT WASTE MONEY ON FLEABAY
    • Gibberish94
    • By Gibberish94 14th Sep 16, 9:17 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    • #4
    • 14th Sep 16, 9:17 AM
    • #4
    • 14th Sep 16, 9:17 AM
    Thank you savingwannabe Yes, I love a good discount, its always a perk that my OH works for the company so lots of discounted homeware etc !

    Not much to report on the spending front other than lots of spending has been happening, myself and my other half are both off work this week too so we're doing lots of nice activities keeping ourselves busy however lots of money is being spent - however its cheaper than us having gone abroad for these past two weeks! Off to London today to have a walk around and then see the football this evening -OH is a massive football fan and he hasn't been to a match in years and last night some tickets got released at a reduced price so I told him we should take this opportunity and go while we're both off work too!

    Car also went into the garage this morning - not looking forward to the call when they tell me how much all the repairs will cost me - thats an expense I think I'll have to put on my credit card however I'm not too disheartened as I've been putting off taking it to the garage for months so the cost was inevitable!
    • savingwannabe
    • By savingwannabe 14th Sep 16, 6:43 PM
    • 11,944 Posts
    • 44,796 Thanks
    savingwannabe
    • #5
    • 14th Sep 16, 6:43 PM
    • #5
    • 14th Sep 16, 6:43 PM
    Hello Gibberish94, enjoy your time off! I always think money spent on your house and car is an investment as it benefits you in the long term. Well done on reduced price football tickets. Weather is gorgeous perfect for time off I am so jealous as it is far too hot to work. I might nip out and mow some more grass. Have a good evening.
    Kitchen Fund( Nov 2017) £5200/£8000 65%
    Christmas Fund (Dec 1st 2016) £20/£600 A Tiny%
    Note to self: DO NOT WASTE MONEY ON FLEABAY
    • Gibberish94
    • By Gibberish94 24th Sep 16, 8:55 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    • #6
    • 24th Sep 16, 8:55 AM
    • #6
    • 24th Sep 16, 8:55 AM
    So as expected those two weeks off were rather expensive but they were so nice and the weather was lovely too!! Part of all this savings I'm telling myself I still want to enjoy myself, not pass up on opportunities as I think the experiences you get to spend with family and friends are so important .

    Fixing my car wasn't awful however it did cost £222.22 which went onto the credit card So credit card is up to £1300 however I was anticipating this cost and hopefully I now don't need to put anything else on it in the forceable future so can really focus on paying it off!

    Anyway been back at work this week which was fairly busy as I had bits to catch up on following my two weeks off and we're also starting to enter busy season so its only going to get busier and busier now, however I enjoy it and love my job so I've got no complaints there - I enjoy the hustle and bustle of lots going on!
    Also, in very exciting news I had an annual review yesterday and I've been told I'm getting a pay rise YAY from next month so thats going to really help me on the savings front and catch up with my OH :P! I'm really pleased as I've worked really hard this past year so its nice to be appreciated for the work you've put in!

    Anyway I'll do another update after pay day and see how everything is looking, however due to a large £250 to pay to one of my sports club this month I doubt very much will be going towards the credit card or savings but we shall see! (I'm part of 3 clubs/groups all of which are not cheap hobbies so they are where most of my spare cash goes!!)
    • savingwannabe
    • By savingwannabe 24th Sep 16, 6:27 PM
    • 11,944 Posts
    • 44,796 Thanks
    savingwannabe
    • #7
    • 24th Sep 16, 6:27 PM
    • #7
    • 24th Sep 16, 6:27 PM
    Well done on your review.

    Gosh that is a lot of money on sport. But if it makes you healthy and happy that is good. It sounds quite specialist see if you can save money by buying things second hand if you want to save more money?

    I used to be in a gym a long time ago and have recently been buying up equipment from fleabay to save money.
    Kitchen Fund( Nov 2017) £5200/£8000 65%
    Christmas Fund (Dec 1st 2016) £20/£600 A Tiny%
    Note to self: DO NOT WASTE MONEY ON FLEABAY
    • Gibberish94
    • By Gibberish94 25th Sep 16, 8:36 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    • #8
    • 25th Sep 16, 8:36 AM
    • #8
    • 25th Sep 16, 8:36 AM
    Its for competition fees and entire team new uniforms - no second hand there unfortunately savingwannabee however once I've paid that, thats it until March - it all just comes in one go which is quite a shock to the bank balance !!
    • Hutchch0920
    • By Hutchch0920 26th Sep 16, 12:52 PM
    • 191 Posts
    • 308 Thanks
    Hutchch0920
    • #9
    • 26th Sep 16, 12:52 PM
    • #9
    • 26th Sep 16, 12:52 PM
    Sounds just like my team! Our new cheer uniforms are £150!
    Save £12k in 2016 target = £9,519 / £13,000 73%

    House Deposit = £16,330 / £18,000 90.7%....so close I can smell it!!
    Engaged 12/8/16 wedding planning for August 2017
    • Gibberish94
    • By Gibberish94 16th Oct 16, 10:42 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    I know Hutch! Cheer is so expensive !!

    So I haven't updated in a while, mainly because been so busy being back at work and doing various family things e.g. weddings, going to the theatre (late Christmas/birthday present - can't remember which as these things always get booked so far in advance and it ends up pretty much every birthday or christmas is a present to see a show/do something with my family (which I love as time spend is much more valuable than physical objects I think) so I can never keep track)!

    Anyway a little payday update. I manage to pay a measly £70 into my credit card and nothing into my savings HOWEVER this is largely due to the massive £250 I had to pay to my club this month so once payday hits this month (which will reflect my pay rise too ) I'm hoping to whack a massive £250 into the CC AND maybe even manage £50 or so into my savings!

    So as stand:

    CC balance: -1230.00

    My HTB ISA: £1,150
    OH HTB ISA: £3200
    Total: £4,350 / £50,000
    Meaning we are 8.7% of the way there (no thanks to me unfortunately however I'm hoping that will soon change once I'm rid of this CC and I'll overtake my partners savings :P)

    I also have an emergency fund of £300 which in time I'm going to start counting as savings however currently as it stands I'm constantly dipping into this amount so until I have enough money to not need to use this account I will then start treating that as my savings .


    In other news this month has been EXPENSIVE - as I said had a number of family events which always come at an extra cost - I have to drive half way up the country for a wedding so that was an extra tank of fuel I spent money on that I could have done without. Till the end of this month I'm going to have to be really careful and I'm going to really try my best not to dip into that emergency fund I have however we shall see! On a positive note I did get a text the other week from a local company offering me a free haircut so I took them up on that and got my hair cut last week for free - would have otherwise cost me £40 so I'm very pleased!

    Anyhow, I'll update again after payday and see where we're at
    • Gibberish94
    • By Gibberish94 22nd Oct 16, 9:19 AM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    Small update: I just had an email this morning from our gas & electricity provider telling us that we're getting a refund of £185 next week!!! We moved into our flat at the end of last year and we got put on the same usage tariff as the people before us - they have been adjusting it gradually making it lower and lower up until now however we've still managed to over pay by that amount so that will be a really nice amount going back into the joint account AND they are lowering our monthly payment by £10 too!

    This money should go in savings however like I said we moved into our first flat together at the end of last year so we still have lots of homeware bits they we've been holding off buying as cash was getting tight having to buy so much when we first moved in but we generally use leftover money in the joint account to buy these bits so we will probably buy them using this money - On the upside it means less money from our personal accounts to pay for these bits meaning more money we can save in the long run !
    • Gibberish94
    • By Gibberish94 29th Oct 16, 12:04 PM
    • 10 Posts
    • 12 Thanks
    Gibberish94
    Payday update! Which means I've been able to make a fair dent on the CC and also managed to put some money into savings!
    So as it stands we are now at:

    CC balance: -£980

    My HTB ISA: £1265 (Managed to pay £115 into it this month!! - this is a big deal for me as I haven't managed to pay anything into it since June!!)
    OH HTB ISA: £3200

    Total: £4,465 / £50,000 8.93%

    Hopefully we will comfortably be at 10% by Christmas and my CC will be less than £500 remaining - we shall see!

    And my emergency fund is still sitting at £300
    • m_i
    • By m_i 4th Nov 16, 1:32 AM
    • 174 Posts
    • 137 Thanks
    m_i
    Well done
    Best of luck for November
    Nice to save.
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