Confused First Time Buyer - Advice would be lovely...

Silaqui

I already have another job in a bar which I do at weekends and during the summer and other holidays, and last year (and hopefully this year) I did exam marking to raise a bit of extra cash. All of that money went/goes on paying off my debts, so I suppose I've got that bit right at least!
I don't know how I managed to get so in debt while at university - I've got £5 grand to pay on my credit card even though I worked two jobs for the whole 4 years!
I've had a look at my incomings and outgoings and done a bit of a budget, I think I'm just spending too much on bits and pieces so am going to start giving myself 'pocket money' instead of taking my card out with me. But I guess that's for another forum!
Hello to all the other teachers by the way!

Running_Horse

If it helps, I get all my direct debits and standing orders to go out just after pay day, do a months shopping, then work out what to do with the remainder. It is amazing what can be saved with a regular overhaul of all your spending. Although I do regularly dip into what I was trying to save before the next pay day. Such is life when you feel you deserve the odd treat for all that hard work. Good luck.

Silaqui

Thanks for your honesty in your previous post RunningHorse, its good for someone to tell it straight sometimes, I can get a bit over eager.
I think thats what I will have to do, just pay a bit more attention to what's going where. Too often I can go all month without looking at my account. I think I've found myself a new years resolution!

Melissa177

How about setting up a regular saver account with a direct debit? Even 100 a month can add up over time. A lot of regular saver accounts pay very good interest rates (A&L do a 12% one, although you need to bank with them also, for example).

Alternatively, how about tutoring kids during half term, and school holidays? Any extra money from this could go into your house buying pot.

If you have no deposit, you really need to sit and wait and save up a bit first - with the credit crunch in full flow, lenders are wary of issuing 100% mortgages.

Running_Horse

Think I'll join you on that new years resolution. Listen, you're young, professional, probably good looking, with your whole life ahead of you. There will be plenty of time for the boring home ownership lark in the future, if you save a little now. Enjoy what will be the best years of your life, before domesticity takes over. Oh to be young again.