The 'We're saving for a deposit' thread

nakiwala123

purty wrote: »

Hello everyone

I've been following these threads for a while but haven't posted much - I've been getting rid of some irksome credit card debt. Now it's gone, I want to concentrate on saving for a house deposit, I'm so desperate to get on the property ladder now!

I'm aiming for about £15000-20000 in savings, and have a pitiful £500 at the moment.

I was wondering if any of you brilliant people could give me some tips? I've already started taking lunch to work - and been quite astounded by how much I've saved. So any more tips would be brilliant!

Thanks so much!

Welcome to this thread. You have taken the first steps to getting on the ladder.:TThat £500 will grow right before your eyes and you will eventually start to enjoy the saving process.

The best advise I ever got was to budget! budget! Make sure you put your savings away on payday. Trust me you will never ever have money left at the end of the month to save.

tara747

BettiePage wrote: »

I'd also like to join this thread. I need the motivation to stop buying more Pandora items for my collection. Just realised I have spent just over £200 on it since xmas, gulp!

Ah, we all have our little vices...

Svenena

So, in February I sold a competition win which gave me an extra £230 to put into my ISA.

And I got paid last week, so have another £590 to put towards my savings.

£300 of that has just gone into my new First Direct regular saver (8%), but I'm yet to decide what to do with the rest. At the moment I'm thinking I'll stick it into my current ISA (3.08%), and then from next month it'll be £300 into the FD reg saver and £145 into a new ISA, which will hopefully pay 3.2% or better, as otherwise I'd be better off in a 4% regular saver. At the moment the Santander @ 3.15% is looking like my best bet, but I'll wait and see what else comes up. That will mean I'll have filled my ISA allowance by the end of the tax year, something I've never done before, as the FD reg saver money will get transferred into the ISA next March. I think I'll then need to stick whatever's left above the £445 a month in an easy access account, as I may need to use some of it for a holiday later in the year.

It's very exciting seeing the figure in my signature going up, especially as my money is scattered across loads of different accounts so I don't usually see the total.

tara747

Svenena wrote: »

So, in February I sold a competition win which gave me an extra £230 to put into my ISA.

And I got paid last week, so have another £590 to put towards my savings.

£300 of that has just gone into my new First Direct regular saver (8%), but I'm yet to decide what to do with the rest. At the moment I'm thinking I'll stick it into my current ISA (3.08%), and then from next month it'll be £300 into the FD reg saver and £145 into a new ISA, which will hopefully pay 3.2% or better, as otherwise I'd be better off in a 4% regular saver. At the moment the Santander @ 3.15% is looking like my best bet, but I'll wait and see what else comes up. That will mean I'll have filled my ISA allowance by the end of the tax year, something I've never done before, as the FD reg saver money will get transferred into the ISA next March. I think I'll then need to stick whatever's left above the £445 a month in an easy access account, as I may need to use some of it for a holiday later in the year.

It's very exciting seeing the figure in my signature going up, especially as my money is scattered across loads of different accounts so I don't usually see the total.

Same here. I would love to see it all in one account! Well done btw. :T

afrugalbrunette

I would like to join you all.

It's going to be an absolute age, so many years before we have saved a sizable deposit for our own home but it's a dream and a dream that can become a reality if we really try.

My contributions to the mortgage fund will be pounds at a time at the minute. The amount of surplus income we have is minimal but things won't be like this forever and as old habits die hard i'd best begin this habit so I can make it into an old one

[Deleted User]

hey afrugalbrunette,

Welcome.

I too am going to take a long time to get enough for a descent deposit. But slowley and surely I will get there!

Good luck with your savings

D9

HouseHunter2010

Hi folks! I've just updated my signature since last year. I met my 2010 target but will continue to save until the right property comes on the market. Until then I'll continue to set myself 6 month targets

Watalie

I'd like to join this thread too please - we are saving!

I still have some debts to pay off ....only 3 more months of that but in the meantime my OH is contributing the lions share of the savings... In any case we hope for a substantial amount saved up by the end of the summer. And fingers crossed by early next year we'll be in a position to buy our own house

[Deleted User]

Welcome Watalie - good luck with saving for your deposit

D9

Watalie

Domino9 wrote: »

Welcome Watalie - good luck with saving for your deposit

D9

Thank you