The 'We're saving for a deposit' thread

JimLad

Carrie85 wrote: »

Hi everyone,

Just added £600 to my savings taking me to £10,000, feels like a big milestone and am feeling proud of myself.

Slight downside is I think i'm more likely to need 30K to 40K instead of my £25,000 estimate. But oh well i've got this far in just over a year which proves its do able :j

I know the feeling! You need such big deposits these days! Had to up my target to 30k recently

HouseHunter2010 wrote: »

Monthly signature update done. Slowly but surely getting there! :j

I think realistically the target amount will need to be £20,000 but I'm just glad at the moment to be heading in the right direction.

Excellent work! A higher target might make you work harder at saving money?

mcclintock

Some very inspiring stories here. My boyfriend and I are saving towards a deposit but finding it hard to save as much as we want to while living within our means. We live in London which makes it all a bit more difficult! We had a goal of saving 25000 by now, but so far we have just under £10000 between us in cash ISAs plus another £1000 or so in an easy access saver for emergencies. We're supposed to save 1/3 of our income every month, then 1/3 goes on rent and bills and 1/3 on non-essentials. This should be sustainable but we find it so hard!

I guess we are used to being selfish, and are very bad at compromising our lifestyle in order to be able to buy. I'm hoping this thread will inspire us!

JimLad

Well my girlfriend and I have decided that when she finishes her uni course (Sept this year) we are going to move into rented accomodation together. This is going to slightly hamper my savings abilities and i was wondering if anyone here rents and has found it to totally diminish their saving ability? I think we plan on renting for 2 years or so whilst we save up the deposit. I think the prospect of living that long with my folks has sent me over the edge!

James

exogenesis

I am currently renting with my partner and we're finding it difficult to save up our deposit. We considered moving back to one of our parents as we would save around £8000 per year which would get us to our target a lot quicker but it would not be practical. If you can find somewhere reasonably cheap to rent then it'll still be possible, we are saving, just slowly!

[Deleted User]

We're renting and saving for a deposit. It wouldn't make sense for either of us to move back to the folks - they live no where near where we are living and working currently. We're not renting a high end property, or the bottom end either - somewhere in the middle. We are happy where we are but managing to save an acceptable amount each month.

We are managing fine to save - slowley but surely.

It's also probably a good idea to live with your other half before commiting to buying together - you never know, you might drive each other mad!!

tara747

Hi all

Haven't been on for a while but just wanted to update my total. I'm up to £37,577 - July was quite an expensive month so I only saved about £570, but the rest of the year should be cheaper and better savings-wise. I am still on track (hopefully lol). Well done to the rest of you!!! :beer:

Off to update my sig - will catch up with you all soon.

loveGSDs

hello everyone

I've been lurking on this site for months now and thought it was about time I posted.

I decided about a year ago that i'd like to move house, however due to the recession/drop in house prices it meant i wouldnt be able to due to not having a deposit. so i started saving! however iv only managed £1500, so from now on, major effort is needed!

thinking that by signing up to the forum, il get the motivation i need :j

what kind of things have you guys been doing to save? i've cut down on my monthly outgoings by switching gas/phone/tv providers etc and also started a food budget. planning on doing a car boot sale next month too to sell some things i no longer need, but is there anything else you can think of?

thanks

:A

JimLad

loveGSDs wrote: »

what kind of things have you guys been doing to save? i've cut down on my monthly outgoings by switching gas/phone/tv providers etc and also started a food budget. planning on doing a car boot sale next month too to sell some things i no longer need, but is there anything else you can think of?

thanks

:A

Moving in with my girlfriend next week! Only renting as we havent got the deposit yet. THis means though that were gonna be looking at budgets and providers of everything!

Check your mobile provider as many (such as o2 in my case) offer very cheap broadband to their contract customers.

You dont need pay tv, freeview is fine if you dont want sport live. Just watch the highlights or watch them live online!

Going to be moving into a very small flat, so all the junk in my current bedroom needs to go somewhere...Think im gonna car boot or ebay a lot!

Alizarin

Wow, another long break between postings for me - moved house 3 months ago and the finances are FINALLY settling down again!

I think I should be able to save between £100-£200 per month from now on depending on other expenses (I've got car insurance and many family birthdays coming up!). I wanted to have £5000 by the end of the year, but it doesn't look like that's going to happen due to me moving house into a bigger rental house in a more expensive area ... but I don't mind as I LOVE it here!

Good luck to everyone, and congrats on all those who are nearing their goals - it'll happen to me one day! :rotfl:

hostie1985

Hi everyone,

I havent posted in ages!!! Welcome to all the new guys and girls who have joined the thread - I've updated my sig and its now up to £19,421.59 and i'm going to carry on saving.

Alizarin - i've just paid for my car insurance today, £490 straight out of my account - could have been worse, my renewal was £670, so i saved quite abit

Didn't save much money last month (paid my balance of my holiday) and probaly wont save much this month (due to the car insurance), if i could save £250 that would be a result!

Hope the savings are all going well

Hostie

xx