Do i have any options?

littlemissbliss

My bills are roughly 1,300 a month then you add shopping on top (i have got that down to £30 a week), then I have the huge train fair of £250 a month just to get me to work (that is just the cost to get to zone 1 in London). I have made a lot of cuts and never go out, do not even own a car and still struggle to save. But life in the UK today doesn't allow it to be easy to save, for example, the only cheap housing are where there are no jobs. That's no good for people like me. I am unable to work from home and I am recently gone up to 37k so I can't ask for a rise yet.

The problem with living in Stevenage or even Dartford is that you end up putting your money in the train businesses' pockets.

Grimsby Town is probably one of the cheapest places to buy, that is where I am from originally and where my family are. I can buy there but I can't live there as there are no jobs. The problem ultimately is the deposit as I would just let a house out and get a second income if I couldn't buy down south. I don't want to wait until I am in my 50s to buy.

littlemissbliss

I could probably save more then £300 a month - its a new salary so I am yet to find out what I will be left with each month. On 34k I struggled to put £300 aside and spent nothing.

littlemissbliss

comeandgo I agree with billy. If you are only saving £300 a month what are you spending your money on.

BILLS!
and crappy train services...

Cakeguts

I would suggest a career move to a similar but different job in either the Midlands or Manchester area. For where you are currently living your job is in the lower end of the pay levels which is probably why they got someone from outside of the South East to take it in the first place.

littlemissbliss

For where you are currently living your job is in the lower end of the pay levels which is probably why they got someone from outside of the South East to take it in the first place.

That's a bit offensive? Because I am northern I get paid lower.

I have been living working in Surrey / London since 2003 and doing a lot of different contract / perm and freelance roles. Did I even say what it is I did?
Most Creative roles are paying around that margin - it has nothing to do with where I am originally from.

Smodlet

If you have recently had a £3k per annum pay rise, that is an increase of £250 per month gross or £200 net. Given your outgoings may well rise in the near future (water rates tend to go up in April, for example, as it is the beginning of a new tax year) you might still be able to save another £150 per month.

Historically, tax allowances have always risen in April which, if they still happen after Brexit, may go some way to counteract any increase in outgoings.

I think the suggestion to look on the Debt free Wannabe board has already been made. You don't have to be in debt to go there; anyone can post a statement of affairs and ask for money saving tips. There is also the old-style money saving board.

Good luck to you, OP and congratulations on the pay rise.

Durban

Is there any chance that you could go in with a family member in order to buy up North?

The reason I ask is that my daughter was in a similar situation. Prices in London and the surrounds way too high so me and her bought a BTL flat in hometown. The 25 percent deposit was steep but buying it together worked out well. It got her a foot in the door and me an investment.

Could that be an option?

littlemissbliss

Durban wrote: »

Is there any chance that you could go in with a family member in order to buy up North?

The reason I ask is that my daughter was in a similar situation. Prices in London and the surrounds way too high so me and her bought a BTL flat in hometown. The 25 percent deposit was steep but buying it together worked out well. It got her a foot in the door and me an investment.

Could that be an option?

That was the original (and still preferred idea). My mum has 60k in the bank and looking to buy 2 BTL properties to invest in as she is making nothing on her savings in the bank. It would be good for me to do as well so i can get on the ladder - however it is that deposit again.
A 5% deposit on a 70k house, no problem. A 25% deposit for the same house is a bit steep.
However, I haven't spoken about a joint purchase, although I still need to get to 10k.
I am hoping to put £400 away (£500 at a push), and hope that the properties do not do up too quickly otherwise ill never keep up.