I need the money for a deposit...quick!!

crazy_jade27

Basically, i moved out from my parents house two months ago as we werent getting along and moved in with a friend and her family. They allowed me to stay rent free for two months, but now this two months is coming to an end, i need to move. I really dont want to go into a house or flatshare as i dont get along with others in those situations. I want to get my own one bed or studio flat. The monthly payments arent a problem for me and i can easily afford to sustain myself, but in the last month i had to cancel my car insrance, and they charged me £208 to do so, so now have no money saved. I do get paid this week so should have around £600 to put towards a deposit, but will need to move ASAP! I am also trying to sell my car for extra money but it wont bring in alot of money unfortunately. Any advice or help woud be great thanks!! Please note that loans and lending money is not something i want to do in any circumstance!! I am only 18 too so loans arent the easiest things to get hold of! Also, please take into account that the initial payment for a flat is going to be the deposit, month rent in advance and the agency fees, so usually comes to around £1000 at least in my area (barry, south glamorgan)

PasturesNew

You might be better off biting the bullet and going into a shared house, focussing on an end date of that, say "I'll do this, but guarantee to have saved up enough so that I can get my own place by Xmas".

Yorkie1

I can't see any way to achieve what you want to achieve, given the constraints you've put on the situation (no sharing, no loan, insufficient savings). I'd also suggest that if you've lived rent free for 2 months, and have only had to pay a relatively small amount for cancelling the car insurance, then on what you've described so far you should have accumulated some savings in the time.

I agree with PN. Go into shared accommodation and save madly for a few months.

PS Off topic, but is your car insured at all at present? If not, you need to declare it off-road /SORN or you're liable for an insurance offence since about a month ago.

dotchas

It all seems out of your reach. If you have lived rent free for 2 months and only paid out £208 to cancel your car insurance and have no savings, how can you afford market rent for even a studio?
In your own place you'd have Council tax, fuel bills and insurance to pay over and above rent.
Perhaps if you post your salary and possible rents and expenses someone can work out if your idea is viable.

G_M

How can cancelling your insurance cost you money? OK - maybe there's a fee, but aren't you saving on the premium? So you should be better off! If this is not the case, why on earth didn't you just let the insurance continue?

As others have said -0 you've had 2 months rent free. So if you are still struggling, can ou really afford your own place - it's costly living on your own.

Bottom line:
either you use savings for a deposit/1st month rent etc OR
you borrow OR
you downgrade your expectations

smartpicture

G_M wrote: »

Bottom line:
either you use savings for a deposit/1st month rent etc OR
you borrow OR
you downgrade your expectations

Or - you go back to your parents and say you've realised you took it all for granted at home and you had a pretty good deal there, you're sorry for being unreasonable, and if they'll give you another chance you'll try harder to compromise and get along with the people who are paying for your living expenses.

Just a thought.

Running_Horse

When I rented out spare rooms I once had a mother desperate to find a place for her eighteen year old son. No way I was taking whatever problems she was trying to offload. Sorry, but it sounds like you are in no position to be choosy. I started off in the grottiest bedsits and gradually worked my way up.