Deposits - how do you save?

PinkKiwi

bodmil wrote: »

:hello: Ok bye.

I didn't aim my post at you and I thanked your post.

The_Palmist

Two people surviving on £270 a week is a feat in itself. Well done on that, and like someone else said...start small and have patience. Good luck on your business ventures.

PinkKiwi

We do get tax credits on top of that.

The_Palmist

PinkKiwi wrote: »

I won't be using this forum anymore. Every thread gets a whole bunch of sarcastic comments. People haven't got anything else to do with their time other than take the !!!! out of other people with their funny funny childish posts. That aren't even funny. It must have taken you a while to come up with that witty remark mustn't it?

You are being a bit too sensitive here. People share their opinions and you don't have to take everything personally. In general you get a lot of useful information here. You must realise that sometimes there will be remarks you don't want to read. That's life.

Be grateful for the answers you like and ignore ones you don't.

PinkKiwi

The_Palmist wrote: »

You are being a bit too sensitive here. People share their opinions and you don't have to take everything personally. In general you get a lot of useful information here. You must realise that sometimes there will be remarks you don't want to read. That's life.

Be grateful for the answers you like and ignore ones you don't.

On every thread I post I get offensive remarks. If people have no advice or relevant input they shouldn't reply. I have not asked for anyone to help me here, I have asked for other peoples side of things. I obviously know that what we have coming in at the moment isn't enough which is why I am trying different things, if it doesn't work, then I'll have no choice but to go back to work. The post has made me look like some thick charity case! I don't appreciate it.

Soundgirlrocks

Please ignore the idiots and sarcastic sods could you get an evening job couple of night a week in a pub? not money to live but a little extra to put aside. I'm not one to talk having chosen a rubbish career that I wanted rather than one that pays well but I'm sure there are ways it ca be done. The debt free wannabe board might be a good place to look if those guys can dig themselves out of huge amounts of debt with stupid apr then it makes saving seem much more possible. Best of luck and keep your chin up Im sure you will get there

BitterAndTwisted

What a lot of people do is to live on only one salary and bank the other. This takes a huge amount of determination and plenty of self-sacrifice. It suits some and not others but I guess it all depends on how quickly you want to get where you're going. There isn't some magic formula: it takes putting a microscope to the housekeeping and lots of self-denial and that doesn't suit everyone.

I think you're achieving a massive amount just by managing on what you've got coming in at the moment so don't let it get you down.

Why not pop over to the Old Style part of the forum? It's a very friendly and helpful place. Interesting, too.

brit1234

I saved about £500 a month for about 8 years, you have to put it into a top interest account which this site recomends the best current ones. I also took out a share ISA which I put £100 in a month.

SG27

I earn £24,000 pa + overtime when I get it and i have a second job paying £50 PW. My partner earns £11,000 pa. We both live with our parents which saves a fortune on rent although this is frustrating as she lives an hour and half round trip away!! We have one cheap UK holiday a year. We rarely eat out or when we do we use vouchers, neither of us really drink much. Take packed lunches to work rather than buying lunch. Some would say this is a boring life and it can be. But you can find fun things do that are free or cheap and looking at the bank balance at the end of the month makes it all worthwhile. We have been saving for over five years (I forget exactly how long now!!) and we have £93,000 now! :j

It's not easy, but there's no choice really it's either that or stay living with our parents! Another thing that keeps me going that I read on here is that for £1 you save now it will save another £1 over the term of the mortgage. So if you borrow say £150,000 to buy a house you have to pay back around £300,000!!! So if you had £50,000 deposit that £200,000 house would have cost you a total of £350,000!!! Sounds like a con to me, which is why we want to save as much as possible. Also my partners job is at risk so we need the mortgage repayments to be easily payable on one income.

The_Palmist

SG27 wrote: »

I earn £24,000 pa + overtime and i have a second job paying £50 PW. when I get it. My partner earns £11,000 pa. We both live with our patents which saves a fortune on rent although this is frustrating as she lives an hour and half round trip away!! We have one cheap UK holiday a year. We rarely eat out or when we do we use vouchers, neither of us really drink much. Take packed lunches to work rather than buying lunch. Some would say this is a boring life and it can be. But you can find fun things do that are free or cheap and looking at the bank balance at the end of the month makes it all worthwhile. We have been saving for over five years (I forget exactly how long now!!) and we have £93,000 now! :j

It's not easy, but there's no choice really it's either that or stay living with our parents! Another thing that keeps me going that I read on here is that for £1 you save now it will save another £1 over the term of the mortgage. So if you borrow say £150,000 to buy a house you have to pay back around £300,000!!! So if you had £50,000 deposit that £200,000 house would have cost you a total of £350,000!!! Sounds like a con to me, which is why we want to save as much as possible. Also my partners job is at risk so we need the mortgage repayments to be easily payable on one income.

What % of this amount is saved by living at parents and what % by other means like packed lunches and using coupons etc. ?

I will be interested to know.