How much can you save?

lilyflower25

Hi there,

new to this, been a member for a while just haven't posted. The bf and I want to buy our first home at some point next year. We decided this at the beginning of the year, but probably didn't start hardcore saving until March. We have about 5k and we're aiming for 9k by the end of the year.

We're not exactly sure how much we'll need to save though. We know we want to have a 10% deposit . Think we need to go to someone who will sit us down and talk to us about solicitor fees, what we'll be able to get and how much we'll need. Don't even know where to start... any suggestions?

jessy-eve

lilyflower25 wrote: »

Hi there,

new to this, been a member for a while just haven't posted. The bf and I want to buy our first home at some point next year. We decided this at the beginning of the year, but probably didn't start hardcore saving until March. We have about 5k and we're aiming for 9k by the end of the year.

We're not exactly sure how much we'll need to save though. We know we want to have a 10% deposit . Think we need to go to someone who will sit us down and talk to us about solicitor fees, what we'll be able to get and how much we'll need. Don't even know where to start... any suggestions?

Hi! Me and my boyfriend are in the same position! We aimed to save 10% of we considered our top budget for a house, we then are saving for fees. We have had different amounts from different people (from £3k to £5k) so we are saving £5k just to be sure! anything we don't need to spend on fees or if we buy a cheaper house will go towards doing it up and furniture. Hope this helps. Happy saving.

ViktorOnopko

I've had a really up & down time with saving over the past 18 months. I've found Jan-April have been good for saving but then the summer months become difficult due to holidays, a clutter of birthdays etc. This year I set a target of £7k but then paid out nearly £2k due to a car problem in April which really sucked and undid a lot of what I'd saved prior to that.

I then found I had two months where I didn't save anything so realised I needed to get a hold of my finances again. What I've now done is download a utility called Banktivity on my Macbook and I've setup a google spreadsheet to track my finances in a way that I know what money I have spare after rent/bills etc and then I can budget appropriately through the month a know roughly what I'll save based on what's remaining. Before I've just operated frugally but that got a bit lax so now I'm monitoring my money VERY closely and this is working for me.

I've also setup my own business to generate additional revenue as I realised that the amount you can save is limited but the amount you can earn is endless (a great quote i came across last year!).

tara747

July update!


It was an expensive month including the aforementioned expensive holiday booking :rotfl: But that's my reward for reaching my £100k target, it'll be worth every penny and I'm really looking forward to it.


So I'm declaring a negative figure of -£377 for July, £5,959 so far in 2016 and £101,166 in total.


Back on it next month!

jacci45

tara747 wrote: »

July update!


It was an expensive month including the aforementioned expensive holiday booking :rotfl: But that's my reward for reaching my £100k target, it'll be worth every penny and I'm really looking forward to it.


So I'm declaring a negative figure of -£377 for July, £5,959 so far in 2016 and £101,166 in total.


Back on it next month!

I think you have earnt that Tara....holidays are my passion too!!:cool::cool:

SalarySlave

Wow Tara, I just read your saving story on here, it is amazing and hugely inspiring. I have been saving hard lately too, I want to buy a house someday but just haven't seen the right one come along yet.
Congratulations!!

tara747

jacci45 wrote: »

I think you have earnt that Tara....holidays are my passion too!!:cool::cool:

Thanks jacci45. Yeah, can't beat a holiday, it's the only thing I splurge on!

SalarySlave wrote: »

Wow Tara, I just read your saving story on here, it is amazing and hugely inspiring. I have been saving hard lately too, I want to buy a house someday but just haven't seen the right one come along yet.
Congratulations!!

Thanks SalarySlave You will get there, I have no doubt.

tara747

August payday update!


I only saved £290 in August (holiday spend took a chunk out of my money this month). That's £6,446 so far in 2016, and £101,656 overall.


Hoping for a better performance in the last four months of the year

savings_my_hobby

snowqueen555 wrote: »

anyone care to give any pointers?

Keep going!

tara747

September update!


It's a big one. I had a really lucky windfall this month so I'm declaring £5,133 for September, £11,582 so far in 2016 and £106,789 overall!


:beer: