The 'We're saving for a deposit' thread

pavlovs_dog

i've not posted here much lately due to cash flow issues and general neglect of my speadsheet. We had been planning to buy a new car in time, but I got a new job over the summer which requires a daily commute, so we had to buy earlier than planned. we borrowed from our house fund to enable us to take advantage of a great buy on a second hand fiesta which should hopefully last us many years. That money should all be paid back by the end of the month.

By Chistmas we will be in a position where we can actively start looking to buy, should something take our fancy. By that point we will have

* between £22-25k deposit (equivilent to 10-15%)
* 6 months take home pay saved as an emergency cushion if one of us loses our job
* up to £3k in case the boiler blows up (or similiarly expensive disaster)
* £2500 saved for fees
* £8000 to start us off with buying furniture and paint to decorate

we are in the fortunate position that we can continue to stay with OHs parents for as long as we wish, so if we can't find anything that we can afford which we like to buy we can simply carry on saving.

Carrie85

Hi everyone,

Just managed to add £600 to my savings and have now broken the £3000 mark. Feeling much more positive as my minimum target for savings by the end of the year was £3000.

Really hoping i can push on to my new £5000 target by the new year, although it might be a bit of a push so i'll see how it goes.

Hope everyone else is doing well

ManPants

Carrie85 wrote: »

Hi everyone,

Just managed to add £600 to my savings and have now broken the £3000 mark.

I'm at the £3000 mark as well after saving £20,000 last year (well 15 months) and putting it down as an extra on my current mortgage. This thread really does help motivate and keep you focused and it is great to hear everyone elses stories as well! Good Luck Carrie and keep going!!

Stupotstu

dippykitty

Carrie85 wrote: »

Hi everyone,

Just managed to add £600 to my savings and have now broken the £3000 mark. Feeling much more positive as my minimum target for savings by the end of the year was £3000.

Really hoping i can push on to my new £5000 target by the new year, although it might be a bit of a push so i'll see how it goes.

Hope everyone else is doing well

Congrats Carrie!:D Hope you can make some headway towards the next target now!

[Deleted User]

Carrie85 wrote: »

Hi everyone,

Just managed to add £600 to my savings and have now broken the £3000 mark. Feeling much more positive as my minimum target for savings by the end of the year was £3000.

Really hoping i can push on to my new £5000 target by the new year, although it might be a bit of a push so i'll see how it goes.

Hope everyone else is doing well

Well done Carrie

I am looking to get to the £5K mark by Christmas as well.

Good luck
P

Carrie85

thanks Palema, congrats on getting past 4K.

It definitely feels like i'm getting somewhere now. Would be great to both get to 5K by our target of christmas / new year.

Am just going to see how i go though as the dreaded christmas shopping will also need to happen :rolleyes:

PennyCrayon_2

Hi,

I'm 25 and currently saving for a deposit on a small flat for myself.

So far I have managed around 11K.

I have to say, this thread is incredibly motivational.

Keep up the good work everyone. :-)

rocketchimp9

Hi
I am up to 14600, got my expenses in today. Me and the OH went to see a house we like last weekend, we loved it so put an offer 132000 in (its on at 150000 which is a little overpriced) this was rejected so went in at 136000, still rejected and told we were way off what they would accept so not upping it. Never mind this thread has given me the motivation to keep saving.

Dinah93

Checked the savings accounts last night, as usual it bore only a vague relation to what I thought we had, so sig is now £1026 higher, meaning we're over 23% there, not 20% as I thought!

Bufger

rocketchimp9 wrote: »

Hi
I am up to 14600, got my expenses in today. Me and the OH went to see a house we like last weekend, we loved it so put an offer 132000 in (its on at 150000 which is a little overpriced) this was rejected so went in at 136000, still rejected and told we were way off what they would accept so not upping it. Never mind this thread has given me the motivation to keep saving.

You did the right thing there i think. if you feel its overpriced then you shouldnt ever chase it. If they have no luck they may just come back and see if you're still interested. Dont bank on it of course but you never know!