Pollyanna's Savings for New House/Flat!

pollyanna24

Hello, I thought I would join on here as I quite enjoy reading everyone's diaries. I don't have debt, and although I have a mortgage which we were overpaying into, we've stopped that as we will probably sell in about a year's time and I would like to have an amount in my account for moving costs.

A bit about me:-

I'm 33 and a single mum to two little girls (6 and 4).

I currently live with my brother (he bought my ex out in 2011 when he left me).

He is getting married later this year and wants to go on and buy a property with his wife. She is in a fixed rate mortgage on her own property, so doesn't want to do this until January 2016.

I am quite good with money, but thought I would like to have a record of my savings and how I am doing.

Currently I have £182.64 in savings, £6.11 left of my January budget and savings for January of £643.87. This will go down slightly as £6.11 isn't a lot left (more than I normally have at this stage) and I am going out on Saturday.

My plan is to have £10,000 by the end of 2015, so that along with my half of the equity in my house, I have a decent chance of maybe getting a mortgage and buy a two bed flat in my area (South Herts within the M25, so expensive!).

veryintrigued

Mods - can we consider having a subsection created for these 'savings diary' type threads please?

Apologies in advance to the OP for the first (grumpy) response probably not being what she hoped for!

le_loup

I asked about a year ago and was considered to have fascist tendencies - good luck.

Nocto

le_loup wrote: »

I asked about a year ago and was considered to have fascist tendencies - good luck.

:rotfl::rotfl:

pollyanna24

Oh, is it not the done thing then? Oops. Sorry.

le_loup

No Pollyanna, it's not you.
These savings threads are, some of us believe, better in a dedicated part of this forum - but currently, there isn't one.

badger09

pollyanna24 wrote: »

Oh, is it not the done thing then? Oops. Sorry.

pollyanna24 you haven't done anything wrong

Its just that some forum members get annoyed if there are multiple threads of personal savings diaries, though I don't think that applies at the moment.

Have you seen this thread? You're likely to get a warmer reception if you join it

https://forums.moneysavingexpert.com/discussion/5122817

And good luck

enthusiasticsaver

Hi Pollyanna


It sounds like a very good idea to start a savings diary. I belong to the thread mentioned above "Save 12k in 2015" and it does not have to be £12k you can put any amount and it is recorded by a very nice lady every month on a spreadsheet so you can see how you are doing. You would be very welcome on that as this savings and investments part of the forum tends to be for questions rather than diaries.


Good luck with your saving for your new flat. Hertfordshire is expensive so I am sure you will need lots of pennies

pollyanna24

Thanks everyone. I shall have a look at those other threads and see what they are like.

I just wanted a diary like what they have on the debt free and mortgage free boards, just something to keep me going and remind me why I am doing this.

And yep, Hertfordshire is expensive. My plan is to buy a two bed flat here which is convenient for my job (London), my girls' school (I never thought I'd be one of those mums about buying a house for the school - but it is so difficult to get into a school these days, that I can see myself moving, getting one of them a place, but the other not etc etc - nightmare), and my Mum lives in the outer suburbs of London and she minds my kids when I'm at work.

Then in about 10 years time, or something like that, when my boss retires and I don't have a job in London anymore (but a nice redundancy package as I'll have worked there for over 20 years), I can buy myself a nice three or four bed place further out of London.

Oh the dreams eh! A lot can happen in that time!!

jimjames

Apologies if this is an intrusive question but I'm curious about the changes you've made to be able to save £10000 in the space of a year when you have no savings at the moment.

Is there something you've recently cut out or been able to increase the amount you save for some other reason? It just struck me as going from £0 per month to nearly £1000 was a massive jump.

kidmugsy

le_loup wrote: »

I asked about a year ago and was considered to have fascist tendencies - good luck.

Nowadays, WE probably say neo-fascist.:)