The 'We're saving for a deposit' thread

tara747

JimLad wrote: »

Hey All,

I was talking to some people at work that thought that once i got my deposit amount up, instead of just jumping in straight away i should rent a house for a few months (im currently living with my folks) which would allow me to get furniture and work out my usual solo monthly outgoings. I can afford to rent without denting my deposit savings im sure.

Any thoughts?

You could try working out what your outgoings would be, then putting that away every month on top of what your mortgage would be.

Although I can't remember whether you've lived away from home before. If not, then do rent for a few months at first. It will give you a taste of independence. Sure, it may dent the savings a little but it'll be worth it!

kacie

hi, i've just starated a new job so am going to start saving fora deposit now, i currently have £250 in savings, but will hopefully be able to out about £200 per month in, i'm only working parttime at the moment. I'm aiming to save around £10k, preferably by 2012

hostie1985

welcome to the thread kacie,

its good that u've got target - and an achieveable one as well.

my target is £15k by the end of the year.

i havent updated my sig yet, but i should have about £12800 (i've saved about £1250 this month!!!). that £15k is getting closer each month:j, i have an emergency fund of £2300 which is not counted towards the deposit.

i cant wait to start looking for a place! how is everyone doing with savings?

hostie

xx

Bufger

heya guys,

Started a new job a year ago and tried to stay living to my old means rather than just doing everything the same but with expensive stuff! managed to save £15k because of it. Buying our first house at the moment, 3 bed terrace with a large and lovely kitchen extension! I wanted to carry on saving to hit a better rate but i now plan to continue the saving whilst paying a mortgage and hit a better rate on the remortgage. Still we havent overstretched ourselves at all and can easily afford the monthly payments.

Keep up the good work everyone! Its SO much more satisfying when you can save the money yourself, rather than borrowing from family/banks etc.

^!£$&

Hey guys am back from my holiday to the states and have just about recovered from my jet lag.
Got paid the day I got home too so have added more to my ISA I am feeling really positive about my savings right now, so much so I might raise my goal a little!
Anyway back to work tommorrow boo So gotta go get organised for that

Jaymz

I haven't posted an update for a while so thought I would pop in and do so! I have reached my target of 10% and had decided to aim for 15% but my job is looking very iffy at the moment.
The last couple of months I have left the money I would usually save for my deposit in my current account incase I lose my job. I have decided not to buy a house for the foreseeable future as my job isn't safe and I can see property prices falling massively.

Instead of saving I am now making sure I have enough money to get by if I lose my job.

Well done to all you savers, you are doing great

pennyjar56

Oh no Jaymz sorry to hear that, just when you were so close. I must admit to having enough in my easy access savings for that reason: I've been dripping it over to ISA when I knew it wouldn't leave us short. Unfortunately this month I've managed to deposit two lots of money to my ISA by mistake and now my easy access savings has a pitiful £200 in it. Can't believe I've made such an error! I know I can still get the money back if I really need it, but just don't want to touch the ISA!

When does the savings thing stop feeling like one step forward and two steps back? one month I'm managing to save over a grand and the next month not only am I saving nothing I'm having to dip in for things!

hostie1985

hi everyone!

hope everyone's savings are going well.

i now saved over £12,700 - i'm really pleased. thats 10 months of saving under my belt. sig is updated below as well :-)

hostie

xx

happytails

Just to update. WE got our keys this afternoon :j thanks for such a great inspiring thread! x

dippykitty

happytails wrote: »

Just to update. WE got our keys this afternoon :j thanks for such a great inspiring thread! x

Very exciting!:D Can't wait until I have keys to my very own place, although that is a very long way off yet!