Tips for saving up for the deposit?

jonewer

Tassotti wrote: »

Credit Card, then move to interest free (Virgin give you max)

Tass

Thats probably the worst advice EVER

lynzpower

My advice is live like you are in debt.

Set your self minature budgets and stick to them! Take lunches etc. Dont buy anything unneccesary. At all! Give nights out a miss and do cheap stuff, youll find your mates will thank you for it as they are trying to save too! ( or pay of debts you didnt know about etc)

In the meanwhile make bits of money elsewhere, sell bits you dont need on ebay, few quid for old mobile phones and you will be SO surprised how muhc money you have left over. Make sure it works hard for you too.

It will make you happy I promise

Running_Horse

£1,533 minus £450 and bills equals several hundred pounds a month equals several thousand pounds a year equals a big deposit in two or three years when the market is more sensible.

If you can't save out of that, I would doubt your ability to meet mortgage payments and bills.

HugoSP

Have a look at the "Up your Income" board.

Could you move into a cheaper place, or renegotiate the rent on your place?

Run through your shopping bills
Have another look at your energy suppliers
Take advantage of any employee share schemes you've got access to
Have a good look at selling items of worth you don't need
Do you use your car regularly, or could you use public transport and hire a car when you need one?

HugoSP

lynzpower wrote: »

.......Give nights out a miss and do cheap stuff........

Judging by her username I think she already does that

marginalone

Im pretty much on low cost utilities, cheap telephone/mobile/broadband providers. For a 2 bedroom flat £450 is quite cheap..

I will be honest, I am disciplined when I want to be financially, but I do waste a lot of £££ thats for sure!..

I dont drive and I live practically next door to work, hence the attraction of taking out a new 6 month lease.

DGJsaver

marginalone wrote: »

Im pretty much on low cost utilities, cheap telephone/mobile/broadband providers. For a 2 bedroom flat £450 is quite cheap..

I will be honest, I am disciplined when I want to be financially, but I do waste a lot of £££ thats for sure!..

I dont drive and I live practically next door to work, hence the attraction of taking out a new 6 month lease.

Youve got it made , no debt needed , just tighten the strings

Lavendyr

Why not start keeping a spending diary so you can really see what you fritter your money away on? Then you can see much more easily what you need and where you need to cut down.

If you want to buy a house, you need to be financially disciplined, there's no two ways about it, so I think a spending diary could be a good place to start.

PasturesNew

marginalone wrote: »

For a 2 bedroom flat £450 is quite cheap..

I will be honest, I am disciplined when I want to be financially, but I do waste a lot of £££ thats for sure!..

I dont drive and I live practically next door to work, hence the attraction of taking out a new 6 month lease.

Are there any contractors at work that go home weekends? Perhaps you could offer them a Mon-Fri (4 ngihts) lodger deal.

That way you still get the place to yourself at weekends - and they get a place cheaper than staying in B&B.

You could charge, say, £250/month all in perhaps... and bank it.

marginalone

Its a 9 to 5 sales job, I did think about renting the room out but the spare room has all of my stored items!!