It's all about the rationing

Percy1983

IveSeenTheLight wrote: »

Good luck with your deposit saving.
With £4.38 added to your fend in the last two months and currently £6.48 towards your 10% deposit, I can see why your hoping for reductions and will need to have a frugile year to meet your target of buying in 11 months time.

Thanks, already had frugile years in debt clearing so nothing is changing, just going into savings rather than clearing debts.

As it is my spetember figure will be behind target as I am investing some money which should see a x3 return with some work.

Anyway if you look at that as a percentage increase its massive :rotfl:

IveSeenTheLight

Percy1983 wrote: »

Thanks, already had frugile years in debt clearing so nothing is changing, just going into savings rather than clearing debts.

As it is my spetember figure will be behind target as I am investing some money which should see a x3 return with some work.

Anyway if you look at that as a percentage increase its massive :rotfl:

Like I said, I wish you well.

Out of interest, what's your deposit target?
How does that compare with your previously monthly achievement in paying off your debt?
i.e. are you planning to save £1000 per month or more or less.
A 10% deposit is quite an achievement in 11 months.

P.S. your percentage increases are likely to becoming dramitcally smaller each month

Percy1983

Looking at saving as least £1300 a month, looking at £130k for a house so £13k deposit.

September won't be a full month as such but there will be other cash injections from my investments.

I will admit we may miss the August 2012 target for buying as it might be months before we find the right house, but with that the deposit should be in place and will just keep getting bigger.

The sums do work, yes its ambitious but possible.

IveSeenTheLight

Percy1983 wrote: »

Looking at saving as least £1300 a month, looking at £130k for a house so £13k deposit.

September won't be a full month as such but there will be other cash injections from my investments.

I will admit we may miss the August 2012 target for buying as it might be months before we find the right house, but with that the deposit should be in place and will just keep getting bigger.

The sums do work, yes its ambitious but possible.

At tr#hat rate you could be mortgage free in around 8 years.

Percy1983

IveSeenTheLight wrote: »

At tr#hat rate you could be mortgage free in around 8 years.

Very true, but once we have a house our ability to save will be cut down massively, yes we could just keep saving for another 8 years as you say but life is too short for that as we want to get on with life and no house is currently holding us back.