25 and need to sort my life out

TheHappyCreative

So, I turned 25 a few months ago and can't stop thinking I should be further along in life than I currently am. I'm working towards a house deposit.
I have currently saved:

£27,883 in my ISA (getting on average £30 a month)
£5,228 in my current account (I really should do something with this)

I get just over £1560 per month after tax.
~£4000/ year after tax depending on how much overtime I work.

About £600 in various P2P companies

Outgoings total about £350 monthly.

I have given up on trying to find a home near where I live (over 200,000 for a 1 bed:()

But I am looking to move to Birmingham/ Nottingham within the next year. I plan to save ~£1000 per month, and would like to eventually get £40000 for a deposit + fees for a house worth about £100,000.

This is my Journey, feel free to come along.

savingwannabe

Hi wow to your savings well done!!!!! and Welcome. :money:

Happier_Me

At 25 you are doing fantastically well to have saved up what you have, even more so if you have saved up this amount on your own and not as one half of a couple.

I consider myself fairly clued up from a money saving/spending POV but at 25 (I'm 40 now) I wasted loads of money on 'stuff' just because I had the spare cash to do it. We refer to this time as the 'money was no object' phase our of lives - had we been as committed to saving as you at that point we certainly would be a little further on with our own MSE journey. We live in one of the areas you are planning to move to, buying at around the age you are now (back in the day when property was priced sensibly).

Good luck on your journey.

Lala2015

TheHappyCreative wrote: »

So, I turned 25 a few months ago and can't stop thinking I should be further along in life than I currently am. I'm working towards a house deposit.
I have currently saved:

£27,883 in my ISA (getting on average £30 a month)
£5,228 in my current account (I really should do something with this)

I get just over £1560 per month after tax.
~£4000/ year after tax depending on how much overtime I work.

About £600 in various P2P companies

Outgoings total about £350 monthly.

I have given up on trying to find a home near where I live (over 200,000 for a 1 bed:()

But I am looking to move to Birmingham/ Nottingham within the next year. I plan to save ~£1000 per month, and would like to eventually get £40000 for a deposit + fees for a house worth about £100,000.

This is my Journey, feel free to come along.

Welcome TheHappyCreative! :hello:

I'm 26, but I wish I had been a bit more clued up like you at 25!

Well done on saving so much! I take it you're in the SE? I'm having the same predicament as you! Similar situation, looking for my first home but finding it a bit ridiculous round here!

Can't wait to read more updates

samluke132

Wow, great work.

How do you get your out going to only £350 monthly?

Do you cycle over driving/live with others?

Sam

DaveTheGeordie

I'm curious to what you do for a living?

ebam_uk

TheHappyCreative wrote: »

So, I turned 25 a few months ago and can't stop thinking I should be further along in life than I currently am. I'm working towards a house deposit.
I have currently saved:

£27,883 in my ISA (getting on average £30 a month)
£5,228 in my current account (I really should do something with this)

I get just over £1560 per month after tax.
~£4000/ year after tax depending on how much overtime I work.

About £600 in various P2P companies

Outgoings total about £350 monthly.

I have given up on trying to find a home near where I live (over 200,000 for a 1 bed:()

But I am looking to move to Birmingham/ Nottingham within the next year. I plan to save ~£1000 per month, and would like to eventually get £40000 for a deposit + fees for a house worth about £100,000.

This is my Journey, feel free to come along.

That is a large amount to have saved up! I wish I have saved up similar amounts!

I am curious what you do for a living, I assume that you could buy something small, have you heard of the new help to buy scheme? Although further up north appears cheaper overall...