2013 - Deposit Saving Year!

Jes0rKah

Hi All,

I've been stalking these forums for quite a long time now, but I'm only just starting to post now! But I'm happy to say I'm here to join you in the savings diary area!

My OH and I are finally starting on the savings road in order to get a deposit together to buy our first home! :j It's been a long time coming (we've just celebrated our '10 years together' anniversary) but 7 years ago my mum passed away suddenly leaving more debts than inheritance, so until now it's been a battle for us to get our lives and finances sorted so we were stable and solvent enough to start saving! There's been a few frivolous years here and there which we've now all but paid off (as per my sig, I've got the OD to clear, but nothing else). We've been renting for most of the 7 years, gradually working our way into a place we are happy to spend more than a year and currently rent a lovely 2 bed house (been here 2/3 years now), but now we're fed up with not having the ability to change anything or really make it our own.

So, with 2013 on the way, we are planning to save at least a 10% deposit on a £100k house and if possible, even more. As my wages go into paying all the current bills and the food, OH is using his earnings to do all the major saving and aims to save between £1,000 - £1,500 a month (depending on his O/T and On call pay).

But I'm not just sitting idly by! I'm hoping to save money here and there to pay off my O/D and save an additional amount myself! But I earn a lot less than OH so it's more a case of saving the 1p-20p coins and doing a lot of extra's to earn a bit on the side (selling a few things on eBay, swag bucks, cash-back on shopping etc)! I've told him he's not to help me with the O/D payback, (as I'm determined to do this myself) as I'm pretty awful with money, so I'm setting myself the challenge to change my bad habits!

So I'll try and keep you all up dated with our month by month progress - I look forward to chatting to you all about my penny pinching year ahead! :T And reading all about yours!

Thanks for reading!
Jess x

thrifty-hayley

Hi can I join in?

I'm making 2013 my year to start saving for a deposit too although I know it will take me longer than a year. I still live with my parents and am hoping to open a Nationwide "save to buy" account, which gives me up to 3 years to save as much as possible.

I'm self employed but earn on average £1200 a month and want to save as big a deposit as possible on a 70/80k house or flat.

Maybe we can share money saving tips lol

Hayley

Jes0rKah

thrifty-hayley wrote: »

Hi can I join in?

I'm making 2013 my year to start saving for a deposit too although I know it will take me longer than a year. I still live with my parents and am hoping to open a Nationwide "save to buy" account, which gives me up to 3 years to save as much as possible.

I'm self employed but earn on average £1200 a month and want to save as big a deposit as possible on a 70/80k house or flat.

Maybe we can share money saving tips lol

Hayley

Course you can! It'll be great to have a savings buddy to keep us motivated!

I've started the eBay listing process now - it's nice to know that if it starts selling, not only am I adding to cash - I'm emptying the house ready for moving to our new house when we can eventually buy it!! :T

Good luck on your saving goals!

gothrockchic1

Good Luck in your journey. My OH and I also want a house but he has to get a permanent job first and pay off his debts so we are further away then you are.

Jes0rKah

gothrockchic1 wrote: »

Good Luck in your journey. My OH and I also want a house but he has to get a permanent job first and pay off his debts so we are further away then you are.

You'll get there! I hope your OH finds a perm job soon

ExCityGirl

Jes0rKah

This is the great idea! Can I please join too?

My partner and I decided to save for deposit too. My part is £11K.

£6K from salary
£4K from small side business I am running
£1K from thin air Selling staff I do not need and doing some extra jobs here and there.

Total £11K - never had any debt in my life apart from telephone contract when I was 20.

Last year I managed to save up but I know that sum will go on fees of various kinds like solicitor, arrangement, surveyors, removals etc.

My tips so far are:

1. Cut down on coffee. I used to spend loads, now I spend £20 only per month. I recon I saved £700 a year.

2. Have a new years resolution of buying no new clothes in 2013. Saves thousands! Last year my resolution was to cut down by 2/3 which I over accomplished as I almost bought none apart from skiing gear. It felt fab! This year it is a bit more severe. Not a penny had been budgeted for clothing.

3. Do not go out. Every time you stay in you save £50. What do you prefer? £50 towards your deposit or headache in the morning? I prefer £50! If you must go out make it count, i.e. make it special.

4. Pack your own lunch to work. I calculated that my partner and I saved £3K between us by taking lunch to work every day.

Tips to be continued...

I am starting up a blog too to share all my tips with everyone so stay tunned!

Good luck everyone!


ExCityGirl
:heart2:

newbaby

Hi can join your dairy plz.we have to save this year so we can move to bigger house. But don't have the sum right now for me 2013it's gonna be about saving as much as we can.
Good luck for you and all

Robin_TBW

Why is everyone trying to join Jes0rKah's thread? This thread isn't a "come on and join in" type thing. It's her tracking her own individual progress. Go start your own threads and keep track there guys.

Jes0rKah

So with January *finally* coming to an end the savings have had a massive input by OH! We already have £5k in the pot (thanks to a bonus) so we're well on our way to the £10k target (so it's now a £10k+ target!)
I've realised it's the 2 months where I don't have to pay council tax, so all being well with the other DD's I should be able to get at least £100 into my savings!
Got more going up on eBay, and have so far managed to earn £30 via surveys etc on swagbucks!

Lets hope the next few months bring on more savings and no big outgoings! :-D