Saving for a Deposit in Brighton and Hove

Shuttle0027

Hi All,

An avid reader of MSE and I thought like everyone else here, I would benefit from starting this thread to keep myself accountable for saving towards this goal.

My original goal a couple of years ago was £20,000 for a flat deposit.
Based on house prices in Brighton/Hove, the extra fees and furniture required. The overall goal will be more like £35,000.

Buuuuuuut .... to keep my sanity in check I am going to maintain my £20k goal as "Goal 1" and then once achieved I will start " Goal 2: Fees Fund" etc.

So currently I am at £11,117.09 of Goal 1: £20,000 (56% Achieved)

My OH took a loan out years ago which he is still paying back, this limits his ability to save much money each month. Therefore I am only considering my own personal savings for this goal.

I have 3 days until payday with an expendable income of £1.28(!)
My OH thinks I'm mad half the time, by how much I deprive myself towards the end of the month just to squirrel everything I can into my savings.

But does anyone else get a buzz from this? :rotfl:

savingwannabe

Welcome Shuttle,

I think it is great you are saving and well done in having over 56% so far. :j:beer::money::T

I can relate to having so little at the end of the month. I only saved £20 this month and I have £3 till payday!!! usually I save more but it was due to the holidays and extra spending. I am having a pay cut at work so I am going to have to cut back on saving but I am definitely going to continue.

Gibberish94

Good luck! I'll be keeping a close eye on your thread as I live around the south east area too so I completely understand the struggle!! My savings are not going ANYWHERE near as well as yours but we all start somewhere right?!

PasturesNew

Can I just say that furniture is optional. I've rarely got round to furniture where I've lived.

There are "quick fix" cheap alternatives, while you wait around for bargains.

Shuttle0027

Gibberish94 wrote: »

Good luck! I'll be keeping a close eye on your thread as I live around the south east area too so I completely understand the struggle!! My savings are not going ANYWHERE near as well as yours but we all start somewhere right?!

Yes absolutely! Everyone starts somewhere. I started getting serious about money saving a couple of years ago and I started with about £700 credit card debt and a student overdraft account. It takes commitment every month, saving as much as you can (no matter how insignificant it may seem at times). In time it grows!

Shuttle0027

PasturesNew wrote: »

Can I just say that furniture is optional. I've rarely got round to furniture where I've lived.

There are "quick fix" cheap alternatives, while you wait around for bargains.

Yes when I have gotten to the point of buying a flat, I will definitely be shopping for bargains to furnish it. I guess I just want a little cushion there so that after I have paid out all my precious savings on a mortgage deposit that I'm not starting at Square one.

Shuttle0027

savingwannabe wrote: »

Welcome Shuttle,

I think it is great you are saving and well done in having over 56% so far. :j:beer::money::T

I can relate to having so little at the end of the month. I only saved £20 this month and I have £3 till payday!!! usually I save more but it was due to the holidays and extra spending. I am having a pay cut at work so I am going to have to cut back on saving but I am definitely going to continue.

Yes it's almost a fun little challenge figuring out what meals you can cook with the ingredients you have or the cheapest you can buy in the shop. Haha I'm a bit sad, I know! :rotfl:

I'm sorry about your pay cut at work, I hope the circumstances are allowing you more free time? Which is a great thing! You can definitely reign in your spending to live within your new means and still save money.

Shuttle0027

August Pay day has passed! Woohoo!

Another little deposit into the savings brings my current total to £11,815.41 of £20,000 deposit goal (59%).

I have had wedding in the Scottish Highlands last weekend and a mini cruise to Bruges this weekend. My weekends are rarely that busy, trust me this jet setting schedule is not a usual month for me. But months like this do require careful budgeting and seriously reigning in the urge to buy another £8 cocktail or a £4 coffee at the airport (£3.50 for the muffin as well, who am I kidding?! ) Sadly there is never much change from a tenner at a coffee shop. Having fun is one thing but a lot of the time we let our impulses carry us away from our goals.

I also got a little lucky, I found 37 Euros from a previous holiday lurking in a 'holiday purse'. I spent 7 euros on some lovely Belgian Chocolates and the rest I Traded to a friend for pounds £1 to 1 Euro. Far better than the exchange rate I would have got at a Bureau de change.

I'm hoping I can sweep a few extra £s into this total before the end of the month. Fingers Crossed.