The 'We're saving for a deposit' thread

tara747

p.s. forgot why I came here - to tell you all that I managed to hit my £30,000 target by the end of December 2009!!!!!!!! WAYHEY!!!!!!! :beer:

Onwards and upwards now - I intend to save another £10,000 this year plus whatever pay rise I get.

Here's to us savers!

purplevamp

:j Well done tara!! :j

tara747

Thanks purplevamp

mouche

I haven't been back on this board for a while because I haven't been able to save anything towards a deposit since October. My husband was made redundant and though he got a new job immediately afterwards, he's still waiting for his visa to come through. Which means we've unexpectedly become a single income family, not to mention the huge cost of the visa and the fact the new job needs him to drive so we're haemorrhaging money for his lessons. We had bought a car in September just before this happened so our 'spare cash' had gone on that. It's been very tight and no savings have been happening at all. We're hoping his visa will come through soon so that he can start getting paid from February (fingers crossed).

Congratulations to all of you who are doing so amazingly well.

I_want_a_baby

Hi I am going to join in this challenge (and a challenge it will be).

I am currently on maternity leave with my first child and am not going back!! We are privately renting but are moving to a house owned by hubbys employers this year which is cheaper rent and we can get rid of one car saving lots of money!!

I have done a budget and I think we can easily save £100 per month but I then did an 'ambitious budget' which is doing the £100pm and then trying to come in under every other monthly budget putting the balance into savings and that VERY ambitious budget was £5k! So just for the hell of it i'll use that as the target.

My hubby & I have been together for 6 years spent the first 4 years paying off HIS £35,000 of debts which he put into an IVA :mad:.
And in the last year when I was working we managed to save £10k in the house deposit pot so got a good start.

Looking forward to saving the pennies and pounds with you all, will update my signature shortly!!

Good luck everyone!

mariagti

Well done Tara on hitting your target!

maltpress

I decided late last year to start saving for a house deposit - I saw a little house I'd like to buy and do up, and it's still on the market (at the original price of about £99.5k although given how long it's been there I think they'd take less!). With that in mind my initial savings target is £10k, a 10% deposit minus all fees. I know I'll need more to move, but I wanted to start with a realistic amount to save for.

Christmas - and meeting a lovely young lady who I've been taking out for dinner etc - has scuppered my plans just lately, and now I've got my income tax bill (I freelance part time) and that's eaten my first two months of savings. To hit my target now I need to save about £1300 per month, which is realistic, but only if I save everything I earn from freelancing and do about 8 days freelancing a month (i.e. two days a week, which is all I have). I could save more if I get my monthly outgoings down significantly, but I'm not sure how at the moment.

The frustrating thing is that I know the little house I've found will be gone by the time I have the money. I suppose the good thing about that is that at least I know the sort of thing I want is out there.

Now the question: should I view the house I know I can't afford just yet to get an even better idea of what I could get for my money, or do I just forget a particular house for now?

tara747

I_want_a_baby wrote: »

My hubby & I have been together for 6 years spent the first 4 years paying off HIS £35,000 of debts which he put into an IVA :mad:.
And in the last year when I was working we managed to save £10k in the house deposit pot so got a good start.

Looking forward to saving the pennies and pounds with you all, will update my signature shortly!!

Good luck everyone!

Well done on paying all that debt off. :T I wonder how you felt about it e.g. I'm not sure I'd want to help pay off someone else's large debt, especially if I knew they'd run it up on trivial things while I'd been careful with my money and made sacrifices to save. But maybe that's just me and I'm a bad person. How does everyone else feel about this?

p.s. I think you need to change your username :rotfl:

mariagti wrote: »

Well done Tara on hitting your target!

Thanks mariagti

maltpress wrote: »

Now the question: should I view the house I know I can't afford just yet to get an even better idea of what I could get for my money, or do I just forget a particular house for now?

Hmm, it's a tricky one! No harm in looking I suppose!!

Vixstar

maltpress wrote: »

Now the question: should I view the house I know I can't afford just yet to get an even better idea of what I could get for my money, or do I just forget a particular house for now?

I would say forget it until you're closer to having the deposit as it would be terrible to fall in love with it and then lose it - obviously unless you can view it totally dispationately.

jen_1985_04

tara747 wrote: »

Well done on paying all that debt off. :T I wonder how you felt about it e.g. I'm not sure I'd want to help pay off someone else's large debt, especially if I knew they'd run it up on trivial things while I'd been careful with my money and made sacrifices to save. But maybe that's just me and I'm a bad person. How does everyone else feel about this?

I have the same opinion, maybe I'm a bad person too! It has taken me years to save for my deposit and during that time I have been so tempted to splash out on things I don't need, but 90% of the time I have resisted temptation. Maybe I'd feel different if I was head over heels...??